9 Best Savings Accounts for Kids of 2026

This list is for parents and grandparents opening a savings account in a child's name, from a newborn's first deposit to a teen who wants to watch their own balance. It covers bank savings accounts built or priced for minors and two family money apps that pay a savings rate. We compared documented features, fees and rates from each provider's own US pages in November 2026; we did not open the accounts. Rankozo weights value at 40%, features at 35% and ease of use at 25%. Here value reflects monthly fees, minimum deposits and the published savings rate, features reflect parent controls, child access and automatic deposits, and ease of use reflects how easily an adult can open and fund the account, including from another bank.

1. 01Top value

   

   Capital One Kids Savings Account

   9.2/10

   Online joint savings account for a child and an adult, with no fees, no minimum and one rate on all balances.

   Price

   Freemonthly fee

   No monthly fees and no minimum deposit

   “No monthly or maintenance fees on a Kids Savings Account.” Quoted from the pricing page, November 11, 2026.

   Free plan

   Yes

   Value (40%)

   9.6

   Features (35%)

   8.6

   Ease of use (25%)

   9.2

   Best forparents and grandparents who want the highest rate with no fees

   Capital One ranks first because it combines the highest bank rate on this list with no costs at all. The Kids Savings Account paid 2.50% APY on all balances as of 11/11/2026, with no monthly or maintenance fees and no minimum to open or keep it. It is a joint account: one child under 18 and one adult. Each gets their own sign-in, so the child can watch the balance in the app while the adult moves money, sets up an Automatic Savings Plan and manages details. The account links to a checking or savings account at any U.S. bank, which matters for a grandparent who banks elsewhere, and checks made out to the child can be deposited by phone. The limit is age: for a child under 12, the adult must be a parent or legal guardian. The account does not convert at 18; it stays open until an owner closes it, and the child opens a new account to become sole owner.

   • ✓One rate applies to every balance, so a $1 balance earns the same 2.50% APY as a large one
   • ✓No monthly service charge and no minimum balance
   • ✓Separate accounts can be opened for each child or each savings goal

   • ✕If the child is under 12, the adult co-owner must be a parent or legal guardian
   • ✕The child can see the balance, and joint ownership means it is not a locked custodial account
   • ✕Autopilot and Paycheck Percentage features need a Capital One checking and savings account

   APY:

   2.50% on all balances (11/11/2026)

   Monthly fee:

   $0

   Minimum to open:

   $0

   Ownership:

   Joint: one child under 18 and one adult

   At 18:

   Account stays open with the same features

   Bottom line: Capital One Kids Savings Account is the best choice for most families because it pays 2.50% APY on every balance with no fees or minimums. Grandparents of a child under 12 should fund it through a parent or look at Navy Federal.

   Visit capitalone.com ↗

2. 02

   

   Step

   8.8/10

   Teen money app with a secured Visa card and a savings reward for Step Black members.

   Price

   Freeper month

   No monthly subscription fee and no account minimum

   “There are no monthly subscription fees, no account minimum fees, no in-network ATM fees, no interest, and no overdraft fees.” Quoted from the pricing page, November 11, 2026.

   Free plan

   Yes

   Value (40%)

   9.2

   Features (35%)

   8.4

   Ease of use (25%)

   8.8

   Best forteens who want savings rewards and early credit history

   Step ranks second because it is free and pays the highest headline savings figure here, though with conditions. Step says Step Black members earn 3.00% on savings, but it is clear that this is a cash reward funded by Step rather than interest, that the rate is variable, and that Step Black is earned by spending $500 with the Step Card or receiving $300 in qualifying direct deposits in a month. That suits a teen with a part-time job more than a toddler. The other draw is credit: the Step Visa is secured, so a teen cannot overspend, and once they turn 18 and verify, Step reports their existing history to the bureaus. Parents can send money instantly, automate an allowance and track balances, and teens cannot invest without permission. Step lists no monthly subscription, account minimum, in-network ATM or overdraft fees. It is a fintech; deposits are held at Evolve Bank & Trust or Lead Bank.

   • ✓No monthly subscription, account minimum or overdraft fees
   • ✓Builds a credit file once the teen turns 18, which no bank account here does
   • ✓Step Black users are eligible for deposit coverage up to $1,000,000 through Evolve

   • ✕The 3.00% is not interest and needs Step Black status, which most young children will not reach
   • ✕Step is not a bank; accounts sit at Evolve Bank & Trust or Lead Bank
   • ✕Built around a spending card, so it is less suited to a hands-off savings gift for a baby

   Savings rate:

   3.00% reward with Step Black

   Monthly fee:

   $0

   Card:

   Secured Step Visa

   Banks:

   Evolve Bank & Trust or Lead Bank, Members FDIC

   Credit reporting:

   After 18 and verification

   Bottom line: Step is the best choice for teens with a job because it is free and pays a 3.00% savings reward once they reach Step Black. For a baby or young child, a bank account such as Capital One is simpler.

   Visit step.com ↗

3. 03

   

   PNC S is for Savings

   8.3/10

   Branch-bank savings account for young children with a Sesame Street themed save, share and spend tool.

   Price

   Freemonthly fee, $0 under age 25

   $0 for account holders under 25; otherwise $5 a month unless waived

   “Monthly service charge of $5, or $0 if one of the following is met: Account holder is under age 25.” Quoted from the pricing page, November 11, 2026.

   Free plan

   Yes

   Value (40%)

   8.6

   Features (35%)

   8.0

   Ease of use (25%)

   8.2

   Best forparents of young children who want a branch and a teaching tool

   PNC's S is for Savings is the best branch-bank option for a young child because it is free for anyone under 25 and comes with a real teaching tool. The monthly service charge is $5, but it drops to $0 if the account holder is under 25, and the online opening deposit is $0. Interest starts on balances of $1.00, deposits are unlimited and up to six withdrawals a month carry no fee. The feature that sets it apart is the online experience: money added to the account lands on a table with three jars for saving, sharing and spending, and the child decides where it goes, with tips from Sesame Street characters in a Learning Center. Auto Savings can move money in automatically, but only from a PNC checking account. The main gap is the rate, which PNC did not list on the product page, so ask for it before you open.

   • ✓No monthly service charge while the account holder is under 25
   • ✓Nothing needed to open online
   • ✓Unlimited deposits

   • ✕PNC did not publish the account's rate on the product page
   • ✕A fee applies after 6 restricted withdrawals in a monthly period
   • ✕Auto Savings only works from a PNC checking account

   Monthly fee:

   $0 under age 25, otherwise $5 unless waived

   Minimum to open online:

   $0

   Interest:

   From $1.00 balances

   Withdrawals:

   Up to 6 without a fee

   Teaching tool:

   Save, share and spend jars with Sesame Workshop tips

   Bottom line: PNC S is for Savings is the best choice for parents of preschoolers because it is free under age 25 and teaches saving with save, share and spend jars. Ask PNC for the current rate first, since it is not published on the page.

   Visit pnc.com ↗

4. 04

   

   Navy Federal Basic Savings (minor membership)

   8.2/10

   Credit union savings account that comes with a minor membership for children and grandchildren of members.

   Price

   Freemonthly fee

   No monthly service fee; included with membership

   “Included with Navy Federal membership and offers competitive rates with no monthly service fee.” Quoted from the pricing page, November 11, 2026.

   Free plan

   Yes

   Value (40%)

   8.8

   Features (35%)

   7.8

   Ease of use (25%)

   7.6

   Best formilitary and veteran families, including grandparents

   Navy Federal is the cleanest route for a grandparent who is already a member, which is why it ranks above higher-rate banks for that audience. Navy Federal states that children and grandchildren of existing members are eligible for a youth membership, and a parent, grandparent or guardian can apply online, by phone or at a branch. The membership includes a basic savings account with no monthly service fee that earns 0.25% APY. For money that will sit longer, an EasyStart Certificate opens with $50 on 12 to 24 month terms, and an Educational Savings Account is available for school costs. From age 14 a teen can add Free Campus Checking, a debit card and app access, though a parent or guardian must be joint owner or trusted user for the app. The trade-offs are eligibility, which is limited to the armed forces, the DoD, veterans and their families, and a rate far below the online banks.

   • ✓Member grandparents can open a minor membership directly, online, by phone or at a branch
   • ✓No monthly service fee on basic savings
   • ✓Certificates and education savings sit alongside it for longer-term goals

   • ✕Membership is limited to the armed forces, the DoD, veterans and their families
   • ✕0.25% APY is well below Capital One's 2.50%
   • ✕Mobile access for the child requires a parent or guardian listed as joint owner or trusted user

   APY:

   0.25% on basic savings

   Monthly fee:

   $0

   Who can open:

   Member parents, grandparents or guardians

   Certificate minimum:

   $50 EasyStart

   App access:

   Ages 14 and up

   Bottom line: Navy Federal is the best choice for military-connected grandparents because grandchildren of members qualify for a minor membership with a no-fee savings account. Non-members and rate-seekers should start with Capital One.

   Visit navyfederal.org ↗

5. 05

   

   U.S. Bank Smartly Savings

   8.1/10

   Standard U.S. Bank savings account with the monthly fee waived for accounts with a minor.

   Price

   Freemonthly fee, $0 with a minor under 18

   $0 for accounts with a minor under 18; otherwise $5 a month unless waived

   “The $5 monthly maintenance fee is waived when you are an owner of a Bank Smartly® Checking, Safe Debit account, Bank Smartly™ Visa Signature® Card, or for accounts with a minor under the age of 18.” Quoted from the pricing page, November 11, 2026.

   Free plan

   Yes

   Value (40%)

   8.4

   Features (35%)

   7.8

   Ease of use (25%)

   8.0

   Best forteens 13 to 17 who want an account in their own name

   U.S. Bank Smartly Savings is the best bank pick for a teen who wants to own the account. U.S. Bank says a minor aged 13 through 17 can open their own savings account, and a younger child can hold a joint account with an adult. The usual $5 monthly maintenance fee is waived for accounts with a minor under 18, and the opening deposit is $25. The headline rate of up to 3.50% APY is a relationship rate: it needs a Bank Smartly Checking, Safe Debit account or Smartly Visa Signature card plus a qualifying combined balance, so a stand-alone kids account will earn the lower standard rate, which the page did not display when we checked. U.S. Bank includes digital tools for goals and spending, and the application takes about five minutes online. For a grandparent, the joint option for under-13s is the way in, but the rate story is weaker than Capital One's unless the family already banks with U.S. Bank.

   • ✓One of the few banks here that lets a 13 to 17 year old be the account owner
   • ✓No monthly fee while a minor is on the account
   • ✓Online application in about 5 minutes

   • ✕The 3.50% APY needs a Bank Smartly Checking, Safe Debit account or Smartly card plus a qualifying combined balance
   • ✕$25 is needed to open
   • ✕Standard rate was not shown on the page when we checked

   Monthly fee:

   $0 with a minor under 18, otherwise $5

   Minimum to open:

   $25

   Own account from:

   Age 13

   Top APY:

   Up to 3.50% with relationship requirements

   Under 13:

   Joint account with an adult

   Bottom line: U.S. Bank Smartly Savings is the best choice for teens 13 to 17 because they can own the account and the $5 fee is waived for minors. Families without other U.S. Bank accounts will not reach the 3.50% relationship APY.

   Visit usbank.com ↗

6. 06

   

   Greenlight

   8.0/10

   Family money app with kids debit cards, chores, allowance and a savings rate that rises with the plan.

   Price

   $5.99per month per family

   Core $5.99 a month; Max $10.98, Infinity $15.98, Family Shield $19.98

   “Core $5.99 /mo” Quoted from the pricing page, November 11, 2026.

   Free plan

   No

   Value (40%)

   6.8

   Features (35%)

   9.0

   Ease of use (25%)

   8.6

   Best forfamilies who want a debit card, chores and savings in one app

   Greenlight has the richest feature set here, but its monthly price drags it down for families whose main goal is saving. Every plan includes debit cards for up to five kids, chores and allowance, savings goals and the LevelUp financial literacy game. The savings rate rises with the plan: 2% per annum on Core at $5.99 a month, 3% on Max at $10.98, 5% on Infinity at $15.98 and 6% on Family Shield at $19.98, all on an average daily savings balance of up to $5,000 per family. Max adds 1% cash back and investing for kids with parent approval; Infinity adds location sharing and driving reports. The math matters: Core costs about $72 a year, so a family would need a large savings balance before the 2% reward covers the fee. Greenlight makes most sense when the card and chores are the point and savings are a bonus.

   • ✓Savings rate of 2% even on the cheapest plan
   • ✓One subscription covers up to 5 kids
   • ✓Switch plans at any time

   • ✕Costs at least $5.99 a month, or about $72 a year, which outweighs the savings reward on small balances
   • ✕The savings rate applies only to the first $5,000 per family
   • ✕Requires a verified ACH funding account and a primary account in good standing to earn

   Starting price:

   $5.99 a month (Core)

   Savings rate:

   2% to 6% per annum by plan

   Balance cap:

   $5,000 per family

   Kids covered:

   Up to 5 debit cards

   Card issuer:

   Community Federal Savings Bank

   Bottom line: Greenlight is the best choice for families who want debit cards, chores and savings together because Core covers up to 5 kids for $5.99 a month and pays 2%. If you only want a savings account, a free bank account pays more after fees.

   Visit greenlight.com ↗

7. 07

   

   Wells Fargo Way2Save Savings

   8.0/10

   Wells Fargo savings account with automatic Save As You Go transfers and an age-based fee waiver.

   Price

   Freemonthly fee, $0 for owners 24 or under

   $0 when the primary owner is 24 or under; otherwise $5 a month unless waived

   “Primary account owner is 24 years old or under” Quoted from the pricing page, November 11, 2026.

   Free plan

   Yes

   Value (40%)

   8.2

   Features (35%)

   7.8

   Ease of use (25%)

   7.8

   Best forWells Fargo families who want a branch account for a child

   Wells Fargo Way2Save is a solid branch option when the family already banks there. The $5 monthly service fee is waived when the primary account owner is 24 or under, so a child-owned account stays free until 25, and Wells Fargo notes that age stops counting toward the waiver at 25. Opening takes $25. Anyone 13 or older can be the primary owner, children 12 and under need an adult co-owner, and anyone 17 or under must open at a branch, since online applications require applicants to be 18. Save As You Go moves $1 into savings for every completed Bill Pay or one-time debit card purchase from a linked Wells Fargo checking account, which works for a teen with their own card. A Wells Fargo checking account is not required to open Way2Save. The weak spot is the rate: the page showed no Way2Save rate when we checked from a California ZIP code.

   • ✓A child can be the primary owner, which keeps the fee waiver in place until 25
   • ✓No Wells Fargo checking account is needed to open
   • ✓Several other fee waivers, including a $300 minimum daily balance

   • ✕Applicants 17 and under must open at a branch; online opening is 18+
   • ✕Wells Fargo did not show a Way2Save rate when we checked
   • ✕Save As You Go needs a linked Wells Fargo checking account

   Monthly fee:

   $0 for primary owners 24 or under, otherwise $5

   Minimum to open:

   $25

   Primary owner from:

   Age 13

   Under 13:

   Joint account with an adult

   Opening for minors:

   At a branch

   Bottom line: Wells Fargo Way2Save is the best choice for existing Wells Fargo families because a child-owned account has no monthly fee until 25. Rate-focused savers should compare it with Capital One first.

   Visit wellsfargo.com ↗

8. 08

   

   Chase Savings

   7.7/10

   Chase's standard savings account, with no monthly service fee for account owners under 25.

   Price

   Freemonthly fee, $0 for owners under 25

   $0 for account owners under 25; otherwise $5 a month unless waived

   “Chase Savings℠ $0 Monthly Service Fee for account owners under 25” Quoted from the pricing page, November 11, 2026.

   Free plan

   Yes

   Value (40%)

   8.0

   Features (35%)

   7.2

   Ease of use (25%)

   7.8

   Best forfamilies who already bank at Chase

   Chase Savings makes the list for families already at Chase, not as a rate pick. Chase advertises a $0 Monthly Service Fee for account owners under 25; otherwise the fee is $5, waived with a $300 balance at the start of each day, $25 or more in Autosave or other repeating transfers from a personal Chase checking account, or a link to a qualifying checking account. Autosave can move money on a schedule from Chase checking, and checks can be deposited from the Chase Mobile app. Chase sets savings rates by ZIP code and did not publish one on the page we checked, and the savings product page does not spell out how a minor can be added as an owner, so ask at a branch before going in. Chase's own guidance notes that most banks require a parent or guardian to open a teen account or co-own it. The appeal is convenience: one login and a large branch network.

   • ✓Large branch network for in-person deposits
   • ✓Several ways to avoid the $5 fee
   • ✓Pairs with an existing Chase checking account for Autosave

   • ✕The product page does not set out minor ownership rules, so confirm them at a branch
   • ✕Rates are set by ZIP code and were not published on the page we checked
   • ✕Autosave only works from a Chase checking account

   Monthly fee:

   $0 for owners under 25, otherwise $5 unless waived

   Fee waivers:

   $300 daily balance or $25 in automatic transfers

   Rate:

   Variable, set by ZIP code

   Automatic saving:

   Autosave from Chase checking

   Insurance:

   FDIC

   Bottom line: Chase Savings is the best choice for existing Chase families because it has no monthly service fee for owners under 25 and Autosave from Chase checking. It is not a rate leader, so non-Chase families should pick Capital One.

   Visit chase.com ↗

9. 09

   

   Acorns Early

   7.6/10

   Kids debit card and money app from Acorns, formerly GoHenry, with savings goals and an optional custodial investment account.

   Price

   $8per month

   Acorns Early Lite $8 a month; Acorns Gold $12 a month

   “Acorns Early Lite Start your kids’ money journey with a smart money app and debit card. $8 monthly” Quoted from the pricing page, November 11, 2026.

   Free plan

   No

   Value (40%)

   6.4

   Features (35%)

   8.6

   Ease of use (25%)

   8.2

   Best forparents who want savings goals plus a UGMA/UTMA investment account

   Acorns Early, the former GoHenry, is a money app first and a savings product second, which is why it ranks last on value. Plans start at $8 a month for Acorns Early Lite and $12 a month for Acorns Gold, each covering up to four debit cards for kids aged 6 to 18. Kids set savings goals with target dates and optional autosave, and parents get automatic allowance, tasks, more than 100 Money Missions and real-time spending alerts. Acorns does not publish a rate on the kids' savings goals. The part grandparents may care about is Early Invest, a custodial UGMA/UTMA account with a 1% match on the first $7,000 invested each year; that money is invested, not insured, and can lose value. Acorns says Early Invest funds can be used for anything that benefits the child, not only school. For a pure savings account, the free banks above cost less.

   • ✓Custodial investing suits a long-term gift a child cannot withdraw before adulthood
   • ✓Kids run their own savings goals with target dates
   • ✓Covers up to 4 kids per plan

   • ✕Costs $8 a month for Lite or $12 for Gold, and the savings goals pay no published rate
   • ✕The 3.59% APY Emergency Savings is for parents on Gold, not the child
   • ✕Investments are not FDIC insured and can lose value

   Starting price:

   $8 a month (Acorns Early Lite)

   Ages:

   6 to 18

   Cards:

   Up to 4

   Investing match:

   1% on the first $7,000 a year

   Former name:

   GoHenry

   Bottom line: Acorns Early is the best choice for parents who want a kids card plus a custodial investment account because Early Invest adds a 1% match on the first $7,000 a year. Families who only want an interest-bearing savings account should skip the $8 monthly fee.

   Visit acorns.com ↗

Questions or corrections: editorial@rankozo.comSee our disclosure. Prices change; confirm on the vendor page before buying.