Accounts for Kids
A digital piggy bank that makes money!
The problem with traditional piggy banks? They don’t help money grow. Start your child on the road to financial success with our FDIC-insured kid savings accounts. Enjoy great interest rates, plus online and mobile access while you teach your child the importance of planning for their future.
Tomorrow’s Tycoons
Help your kiddos learn to save with their own savings account! A Tomorrow’s Tycoon account has no monthly fees, unlimited deposits and converts to a Free Savings account at age 18.
| open an account | |
|---|---|
| Open Account1 with as little as | $100 |
| APY (Annual Percentage Yield) | 0.25% |
| Interest Rate | 0.25% |
| Monthly Maintenance Fee | None |
| Average Daily Balance to Avoid Fee | None |
| Transactions Allowed per Month2 | 6 |
| ATM Card | None |
1This account is available only to customers under the age of 18. A parent or legal guardian must be a joint account holder. The account will be transferred to a Free Savings when the minor turns 18. 2You may make up to six transfers or withdrawals by means of a pre-authorized, automatic, PC, or telephonic transfer to another account of yours or to a third party during any calendar month (or statement cycle of at least four weeks).Rates last updated 1/18/2021. Rates are subject to change on any day and will be updated by 10:00 AM EST. Please be sure to check this page after 10:00 AM EST for the rate that will be honored today. Fees may reduce earnings on account. The period used to calculate average daily balance is monthly. For additional information, visit our Disclosures page.
Don’t just take
our word for it
“We had a fantastic experience working with First Internet Bank….great rates and excellent service.”
– Diane T.
Coverdell Education Savings
Get a head start on saving for education expenses! A Coverdell Education Savings1 account is a tax-advantaged savings account in which contributions are invested for the purpose of funding a student’s education. There are annual limits to the amount you may contribute for each child. Learn more about the benefits of Education Savings Accounts.
| Term | Interest Rate | Annual Percentage Yield (APY) | Early Withdrawal Penalties |
|---|---|---|---|
| 12 Months open an account |
0.75% | 0.75% | 180 days interest |
| 18 Months open an account |
0.80% | 0.80% | 180 days interest |
| 24 Months open an account |
0.80% | 0.80% | 360 days interest |
| 36 Months open an account |
0.80% | 0.80% | 360 days interest |
| 48 Months open an account |
0.90% | 0.90% | 360 days interest |
| 60 Months open an account |
0.90% | 0.90% | 360 days interest |
| Money Market open an account |
% | % | None |
1This account is available only to customers under the age of 18. A parent or legal guardian must be a joint account holder. The account will be transferred to Free Savings when the minor turns 18.2You may make up to six transfers or withdrawals by means of a pre-authorized, automatic, PC, or telephonic transfer to another account of yours or to a third party during any calendar month (or statement cycle of at least four weeks). Open with as little as $1,000. Rates last updated 1/18/2021. Rates are subject to change on any day and will be updated by 10:00 AM EST. Please be sure to check this page after 10:00 AM EST for the rate that will be honored today. Fees may reduce earnings on account. The period used to calculate average daily balance is monthly. For additional information, visit our Disclosures page.
Talk to us about savings accounts for kids
We would love to chat. Get in touch however you feel most comfortable.
