What bank offers the best interest rates on savings accounts for minors?

Answer 1

One can find the best interest rates on savings accounts for kids from the Money Super Market website. One can also find it from websites like Money, Money Saving Experts, Money Smart and many more.

Answer 2

Some banks which offer savings accounts for kids include Bank Of Montreal, ScotiaBank and TD. All of them have good starter programs to help kids learn about money and the benefits of savings and interest.

Answer 3

Go with your local bank firm or the one you/your parents use. Ask them if they let children have savings accounts. Several banks let you open up an account for your children no matter their age.

Answer 4

All banks do that. All banks have facilities where kids can open bank accounts. However, they will require an adult to be a joint holder or guardian for the account until the kid turns 18. The kid can visit the bank branch themselves to deposit any cash they want (you can even deposit $5 or $10 into a kids savings account). Actually banks these days are encouraging kids to have their own bank account in order to educate them about money and how to save for a better future.

Answer 5

You have two options. One of the best and most legitimate banks in the nation is Ally bank. Check Ally.com to get some great rates. Also, you can grow interest relatively tax free with a 529 plan.

Answer 6

TD Canada Trust has the highest youth interest rates. It is a well known company with many branches across Canada.

Answer 7

Investing in a savings account for a child has the advantage of a long duration of time to build up profit. The highest interest rate savings accounts are offered by Ally Bank and Forbes.