Rates
| Amount | Interest Rate | APY |
|---|
Child Savings Accounts
Save for a child's future
Interest-earning savings accounts for children to help prepare for the futureInterest-earning savings accounts for children
to help prepare for the futureInterest-earning savings accounts for children to help prepare for the future
please wait while the page loads
Minor Savings Account
Savings for now. Help a child build a savings account and learn about banking.
No monthly maintenance fee if the child is under the age of 18. Other fees may apply.
Our financial specialists are ready to help. Visit a financial center to learn more and open an account.
Savings for later. Deposit funds into a savings account as a gift for when a child reaches maturity.
$XXXX per month
Not sure? Compare child savings accounts
Minor Savings Account | Custodial (UTMA) Savings Account | |
|---|---|---|
Account ownership | Jointly owned by minor and parent/guardian | Parent/guardian acts as custodian for the minor's account |
Minor has access to funds before age 18 | This feature is supported | This feature is not supported |
This feature is supported | This feature is supported | |
FDIC insured to maximum amount allowed by law | This feature is supported | This feature is supported |
See today's deposit rates | See today's deposit rates | |
Minimum Opening Deposit | $XXXX | $XXXX |
Minimum Daily Balance | $0 | $500 |
Fees and Policies | ||
Monthly Maintenance Fee | No fee if account owner is under the age of 18 At age 18 Minor Savings Account converts to a Bank of America Advantage Savings Account and applicable fees will apply | $8 monthly fee or $0 with a minimum daily balance of $500 |
Or pay $XXXX/month | ||
Withdrawal Limit Fee | Total of $XXXX transfers and withdrawals each monthly statement cycle without a Withdrawal Limit Fee You may be charged a $1.00 fee for each additional transfer and withdrawal you make before your statement cycle ends. You will be charged no more than $XXXX of these fees each statement cycle. If you maintain a minimum daily balance of $300 or more in this account, you won't be charged this fee. | Total of $XXXX transfers and withdrawals each monthly statement cycle without a Withdrawal Limit Fee You may be charged a $XXXX fee for each additional transfer and withdrawal you make before your statement cycle ends. You will be charged no more than $XXXX of these fees each statement cycle. If you maintain a minimum daily balance of $XXXX or more in this account, you won't be charged this fee. |
Other fees and information | Our financial specialists are ready to help. Visit a financial center to learn more and open an account. | Need additional options? Other types of custodial accounts are available. Meet with a specialist at your local financial center to learn more. |
Learn more about rates
All child savings accounts come with...
FDIC insurance
Balances are insured up to applicable limits. Learn more about FDIC insurance
Why choose Bank of America?
Why choose Bank of America?
Bank of America
Preferred Rewards
Get more rewards with your everyday banking™
Resources on how to help your kids save
Please select your county
Enter your zip code
Contact us
- Schedule an appointment
- Schedule an appointment
- Call us
- Phone number:844.375.7027