Savings Accounts
Highest Student Savings Account Rates
The highest student savings rate on Banksparency is 5.12% APY, advertised by Windsor Federal Bank on its Student Savings Account. This page tracks 18 active student savings accounts from 17 banks.
By Aviel Fahl
|Student Savings Account Rate Summary
17 banks tracked in this category.
The mean of all tracked student savings account APYs is 1.23%. The FDIC national average for savings accounts is 0.38% as of Aug 2026. The effective federal funds rate is 3.88% as of Sep 17, 2026.
Market Snapshot
Top 10 Range
0.25%–5.12% APY
Average APY
1.23% APY
The mean of all tracked student savings accounts
FDIC National Average
0.38%
savings accounts, cap 4.38% · Aug 2026
Fed funds rate
3.88%
As of Sep 17, 2026
What a higher rate is worth
A year at the FDIC national average returns about $38 in interest on a $10,000 balance. The highest student savings accounts we track advertise 0.25%–5.12% APY.
The neighbouring rankings, if this is not the account you want:
Highest Student Savings Account Rates Right Now
Ordered by highest APY. 18 products tracked.
Windsor Federal Bank leads at 5.12% APY on its Student Savings Account. The tenth-ranked student savings rate is 0.25%, so the top ten span 4.87 points. The leader is 13.5 times the FDIC national average of 0.38%.
Windsor Federal Bank
Student Savings Account
Grand Rapids State Bank
Education Savings
Poppy Bank
Poppy Student Savings
| Institution | Product / Term | APY | Sponsored link |
|---|---|---|---|
| Windsor Federal Bank | Student Savings Account | 5.12% | |
| Grand Rapids State Bank | Education Savings | 4.33% | |
| Poppy Bank | Poppy Student Savings | 3.50% | |
| Merchants State Bank | Coverdell Education | 3.25% | |
| Northwest Community Bank | Student Savings Club Account | 2.53% | |
| StonehamBank, A Co-operative Bank | Optimum Student Savings | 1.00% | |
| The Corner Stone Bank | Special Student Savings | 0.60% | |
| Fidelity Bank, National Association | Student Savings | 0.30% | |
| Union Bank and Trust Company | Simply Savings Student | 0.30% | |
| The First National Bank of Pandora | Student Savings | 0.25% | |
| Northrim Bank | Education Savings | 0.22% | |
| Blue Ridge Bank and Trust Co. | Student Savings | 0.20% | |
| First Northern Bank and Trust Company | Student Savings | 0.15% | |
| United Community Bank | United Student Savings | 0.15% | |
| The Community Bank | Student Statement Savings | 0.10% | |
| Fall River Five Cents Savings Bank | Student Savings | 0.05% | |
| Reading Co-operative Bank | Student Passbook Savings | 0.01% | |
| Reading Co-operative Bank | Student Statement Savings | 0.01% |
Student Savings Account rate questions
What is the highest student savings rate right now?
Windsor Federal Bank advertises 5.12% APY on its Student Savings Account, the highest of 18 active student savings accounts tracked on Banksparency.
What is the average student savings rate?
The mean of all 18 tracked student savings account APYs is 1.23%. It is a plain mean across every tracked product.
How do the top student savings rates compare with the FDIC national average?
The ten highest advertised rates run from 0.25% to 5.12% APY, against an FDIC national average of 0.38%. The FDIC national rate cap for savings accounts is 4.38%.
When were these student savings rates last observed?
The newest reading on this page is from Saturday, September 19, 2026. Banksparency reads each institution's advertised rate on that institution's own website, and it records the date of each reading. Some rates on this page carry an earlier date. A rate can change at any time, so confirm it with the institution before you open an account.