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Coverdell Education Savings Accounts


Accounts: Coverdell Education Savings Accounts

 

Coverdell Education Savings Accounts

Description:

  • This account allows you to save for a child’s education with earnings and withdrawals tax-free for education purposes. 

Requirements:

  • Minimum balance to open account is $25.00.
  • Minimum balance to receive the annual percentage yield disclosed is $0.01.

Benefits:

  • Save for a child’s education with earnings that are tax-free.
  • Earnings grow faster with tax-free status.
  • Tax-free withdrawals for qualified education expenses for kindergarten through higher education.
  • You can select your maturity. Choose from next day (IRA Savings) to a five year certificate of deposit.

Cost:

  • No annual fees on these accounts.

  • No service charges on these accounts. 

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