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.

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.

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

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 ...

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 ...

Your teen can earn 2.00% APY on balances under $1,000 and 0.25% APY on greater balances, which is more than most traditional savings accounts offer. You don’t need to jump through any hoops to ...

This account has no minimum deposit requirement, no monthly fee, and earns 2.50% APY on all balances. You can link the savings account to a checking account from any bank; it doesn't have to be a ...

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 ...

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 ...