Savings Accounts
Highest Youth Savings Account Rates
The highest youth savings rate on Banksparency is 5.00% APY, advertised by Farmers & Merchants State Bank on its Custodial Savings. This page tracks 29 active youth savings accounts from 26 banks.
By Aviel Fahl
|Youth Savings Account Rate Summary
26 banks tracked in this category.
The mean of all tracked youth 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 3.63% as of Sep 3, 2026.
Market Snapshot
Top 10 Range
0.50%–5.00% APY
Average APY
1.23% APY
The mean of all tracked youth savings accounts
FDIC National Average
0.38%
savings accounts, cap 4.38% · Aug 2026
Fed funds rate
3.63%
As of Sep 3, 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 youth savings accounts we track advertise 0.50%–5.00% APY.
The neighbouring rankings, if this is not the account you want:
Highest Youth Savings Account Rates Right Now
Ordered by highest APY. 29 products tracked.
Farmers & Merchants State Bank leads at 5.00% APY on its Custodial Savings. The tenth-ranked youth savings rate is 0.50%, so the top ten span 4.50 points. The leader is 13.2 times the FDIC national average of 0.38%.
Farmers & Merchants State Bank
Custodial Savings
Farmers & Merchants State Bank
Youth Savings
First Bank
Kids Cash Savings
| Institution | Product / Term | APY | Sponsored link |
|---|---|---|---|
| Farmers & Merchants State Bank | Custodial Savings | 5.00% | |
| Farmers & Merchants State Bank | Youth Savings | 5.00% | |
| First Bank | Kids Cash Savings | 4.00% | |
| Waterman Bank | Kids Savings | 3.82% | |
| Poppy Bank | Poppy Blooms Youth Savings Account | 3.75% | |
| Climate First Bank | Youth Savings | 3.56% | |
| Citizens Bank Minnesota | WooHoo! U | 3.04% | |
| Capital One | Kids Savings Account | 2.50% | |
| Florence Bank | NextGen Savings | 1.00% | |
| Chelsea Savings Bank | Child Savings | 0.50% | |
| Dundee Bank | Apple Blossom Savings | 0.50% | |
| First Bank and Trust Company of Illinois | Minor Savings | 0.50% | |
| Farmers State Bank | Youth Savings | 0.40% | |
| First State Bank of Campbell Hill | Student | Minor Child Savings Account | 0.30% | |
| Axos Bank | First Savings | 0.25% | |
| Cross County Savings Bank | Stepping Stone Savings | 0.25% | |
| Washita State Bank | WSB Junior | 0.20% | |
| First Federal Bank of Kansas City | Minor Savings Account | 0.15% | |
| Freedom Bank | Minor Savings | 0.15% | |
| Carver Bank | Youth Savings | 0.10% | |
| CBBC Bank | Young Savers | 0.10% | |
| Fall River Five Cents Savings Bank | Nickels Savings | 0.10% | |
| First Bank Elk River | First Dollars Savings | 0.10% | |
| Florence Bank | School Savings | 0.10% | |
| Security State Bank of Marine | Piggy Bank Savers | 0.10% | |
| Security State Bank of Marine | Super Savers | 0.10% | |
| Federation Bank | Pennysavers | 0.05% | |
| THE VINTON COUNTY NATIONAL BANK | Minor Savings | 0.05% | |
| Century Bank | Minor Savings | 0.03% |
Youth Savings Account rate questions
What is the highest youth savings rate right now?
Farmers & Merchants State Bank advertises 5.00% APY on its Custodial Savings, the highest of 29 active youth savings accounts tracked on Banksparency.
What is the average youth savings rate?
The mean of all 29 tracked youth savings account APYs is 1.23%. It is a plain mean across every tracked product.
How do the top youth savings rates compare with the FDIC national average?
The ten highest advertised rates run from 0.50% to 5.00% APY, against an FDIC national average of 0.38%. The FDIC national rate cap for savings accounts is 4.38%.
When were these youth savings rates last observed?
The newest reading on this page is from Monday, September 7, 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.