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Children's Savings Accounts in Maryland

Several banks in Maryland offer significantly higher rates on children's savings accounts to help kids see the results of saving sooner and keep them encouraged. We keep track of these special rates to help you pick the best account for your child to help them get excited about saving early.

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Deposit Amount | $1 $100,000
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Results

Airbankingjunior airsavings 1 Review4.00%-$1k$4.00
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Apple Federal Credit UnioneXtras Student Savings17 Reviews2.80%-$1,500$2.80
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Cardinal BankKid’s Club2.51%-$1k$2.51
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Northwest Federal Credit UnionYouth Club Share Savings 9 Reviews2.28%-$1,500$2.28
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Lake Michigan Credit UnionKids Club Savings35 Reviews1.00%-$1k$1.00
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Bank of GeorgetownJunior Savers1.00%--$1.00
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Capital One 360Kids Savings Account12 Reviews0.75%--$0.75
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WashingtonFirst BankWashingtonFirst Kids Savings0.75%-$2,500$0.75
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American Bank (MD)Kids Club2 Reviews0.75%--$0.75
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First Internet Bank of INTomorrow's Tycoons1 Review0.60%--$0.60
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Pen Air Credit UnionMinor Account Savings2 Reviews0.50%--$0.50
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HEW Credit UnionHEWEY Sub-share Savings7 Reviews0.40%$100-$0.40
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Fairmount BankKid Smart Savings0.35%--$0.35
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Fraternity Federal Savings and Loan AssociationBee a Saver 0.25%--$0.25
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University Federal Credit UnionKidz Savings4 Reviews0.25%--$0.25
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Liberty Bank of MarylandMinor Savings0.25%--$0.25
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Chessie Credit UnionMoola-Moola Savings0.25%--$0.25
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Northrop Grumman Federal Credit UnionYouth Account0.25%--$0.25
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Connexus Credit UnionYouth Savings Account14 Reviews0.25%--$0.25
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Zions BankKids Savings11 Reviews0.24%-$1k$0.24
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Franklin Federal Savings BankKids Count Club0.20%--$0.20
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America's Credit Union Teen Savings 0.20%--$0.20
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Justice Federal Credit UnionYoung Savers Account4 Reviews0.20%--$0.20
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Goldwater BankYouth Savings - AZ Only1 Review0.20%--$0.20
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Astera Credit UnionStar Saver2 Reviews0.15%$100-$0.15
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Prince George's Community Credit UnionCentsables Kids Account0.15%$50-$0.15
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Signal Financial Credit UnionDollar Dog Youth Savings0.15%$25-$0.15
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PeoplesBank, a Codorus Valley CompanyMaverick Savings1 Review0.15%--$0.15
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The Bank of DelmarvaStatement Savings Minor0.15%$100-$0.15
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American BankYoung American Statement Savings3 Reviews0.15%--$0.15
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Amegy BankYoung Savers5 Reviews0.15%--$0.15
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National Bank of Kansas CityYouth Savings Account0.15%--$0.15
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Freedom Of Maryland Credit UnionYouth Share Savings Account0.15%--$0.15
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North American Savings BankStepping Stones Savings1 Review0.14%--$0.14
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Arundel Federal Savings BankGoal Maker Savings0.12%--$0.12
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Provident State Bank, Inc.Minor Savings Account1 Review0.11%$25-$0.11
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Cattaraugus County BankCCB Kids Cash Club0.10%--$0.10
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Partners 1St Credit UnionClown Club1 Review0.10%--$0.10
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Howard BankJunior Savings0.10%--$0.10
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Great Lakes Credit UnionKirby Kids Savings6 Reviews0.10%--$0.10
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Displaying 1-40 of 75 Results



Children's Savings Accounts Trend

Children’s Savings Accounts

A children's savings account is a great way to help your kids and grand kids learn how to save money. Compare banks and credit unions to find the best rate possible on your child's savings account and help them to see results sooner and stay motivated. Some institutions package their children’s accounts into clubs and issue membership cards to account holders after joining. The club experience also includes special events, contests, and games that help teach fundamental principles of saving and spending money. Other children’s savings accounts incentivize saving by offering prizes when particular goals are achieved.

Many banks and credit unions offer high interest rates on children’s accounts, even with low balances, to encourage saving. Some have fairly low maximum balance caps, but most have no limits as to how big the account can grow. The banks with special deals for kids tend to be local, so we have compiled a list of several hundred of these banks and continually verify the rates to help you get the best deal possible.

Using a Children’s Savings Account

A children’s savings account is a useful tool to help your children begin saving for college, as well. Some studies have shown that youth with funded savings accounts are more likely to enter and complete a post-secondary education. Parents or legal guardians are usually joint owners of the account and can decide how much ownership to give their child as they grow into higher levels of responsibility. If you give allowances to your child or children, one strategy that could serve as valuable financial education is to deposit the allowance directly into the account and teach them how to access and spend it. To open most children’s savings accounts, you’ll need to have some form of identification for your child ready (e.g., social security card, birth certificate, school ID, passport, immunization records).

Children’s Savings Account as a Trust

Parents and legal guardians may serve as custodians on children’s savings accounts and treat the account somewhat like a trust account. The child will receive the contents of the account upon reaching a particular age, generally 18. Check out the offerings below to see if there is an account that will help your child get started with his or her financial education.