Helping your teen get a grip on money is one of the best things you can do for their future. Instead of just giving them cash ...

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

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.

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.

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.

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 ...

Some banks and credit unions pay very high interest rates on their kids savings accounts. Find out if your child qualifies.

To determine which teen checking accounts are best, CNBC Select analyzed and compared options at brick-and-mortar banks, online-only banks and credit unions. The ones we selected for our ranking ...

Both accounts have high interest rates, making each a beneficial way to store $10,000 in today's evolving economy.

The best teen checking account for you will have no monthly maintenance fee, offer ATM access where your teen needs it, and give you tools to supervise and manage the account. Here’s our take on ...

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; BECU – 5.38% APY on ...