The best savings accounts for teenagers offer some common features: High APY: The annual percentage yield (APY) of an account ...

We assessed 73 savings accounts from 53 financial institutions to develop our ranking of the best high-yield savings accounts for kids and teens, focusing on various data points such as fees, ATM ...

Taxes on a child or teens savings account depends on how much interest is generated. If your kid’s account generates more than $2,300 a year, it may be taxable.

The best savings accounts for teens are from SoFi Bank, Discover Bank, Capital One and Bethpage Federal Credit Union, which all offer above-average rates. Last Updated: May 22, 2025.

Best Kids and Teen Savings Account Rates for March 2025 Spectra Credit Union – 10.38% APY on first $1,000 Chevron Federal Credit Union – 7.00% APY on first $1,000 ...

Also worth noting: Alliant’s adult offering, the High-Rate Savings account, is our top choice for a credit union savings account thanks to its identical 3.10% payout and lack of fees. Best for teens ...

To determine the best savings accounts for kids and teens, we carefully evaluated a wide range of factors, including interest rates, fees, minimum deposit and balance requirements, and product mix.

Teens under age 18 will likely need a parent or guardian to open a savings account. This adult will be designated as a joint account holder . Children’s accounts are converted to standard accounts ...

Today's best savings accounts are paying record rates, and the highest rates of all are offered to kids and teens. See how they can earn up to 10% on their cash in the bank.

Banks and credit unions offer savings accounts for kids and teens to help them reach their financial goals. Learn which kids' savings accounts rate the best.

Educational, rewarding and child-friendly: These are the 5 best savings accounts for kids and teens CNBC Select's top picks help parents teach their children about the value of a dollar early on.