Education IRA/Coverdell Education Savings Account
Invest in your child's future with a tax-free educational savings account.
Open the gateway to educational opportunities with a Coverdell tax-efficient education savings account or CD. This K-12 through college savings account allows contributions of up to $2,000 annually. Watch your educational investment grow tax-free, and then make tax-free withdrawals for expenses like tuition, textbooks, and more.‡
Education IRA CD
Rates as high as
4.25
Education IRA Savings
Rates as high as
0.05
A great option if you want:
- Open as a savings account or CD.
- Beneficiary does not have to be a relative.
- Beneficiary must be under 18 at the time of opening and must use the funds by age 30.
- Can be used for elementary, high school, and postsecondary schools (college, vocational school, etc.), both public and private.
Table Scrolls Right.
Table Scrolls Right.
| TERM | MINIMUM DAILY BALANCE REQUIREMENT | INTEREST RATE | APY |
|---|---|---|---|
| 6 MONTHS1 | $1,000.00 – $2,499.99 | 2.47% | 2.50% |
| $2,500.00 – $9,999.99 | 2.47% | 2.50% | |
| $10,000.00 – $24,999.99 | 2.47% | 2.50% | |
| $25,000.00 – $49,999.99 | 2.47% | 2.50% | |
| $50,000.00 – $99,999.99 | 2.47% | 2.50% | |
| $100,000.00 + | 2.47% | 2.50% | |
| 9 MONTHS1 | $1,000.00 – $2,499.99 | 4.17% | 4.25% |
| $2,500.00 – $9,999.99 | 4.17% | 4.25% | |
| $10,000.00 – $24,999.99 | 4.17% | 4.25% | |
| $25,000.00 – $49,999.99 | 4.17% | 4.25% | |
| $50,000.00 – $99,999.99 | 4.17% | 4.25% | |
| $100,000.00 + | 4.17% | 4.25% | |
| 12 MONTHS1 | $1,000.00 – $2,499.99 | 2.96% | 3.00% |
| $2,500.00 – $9,999.99 | 2.96% | 3.00% | |
| $10,000.00 – $24,999.99 | 2.96% | 3.00% | |
| $25,000.00 – $49,999.99 | 2.96% | 3.00% | |
| $50,000.00 – $99,999.99 | 2.96% | 3.00% | |
| $100,000.00 + | 2.96% | 3.00% | |
| 18 MONTHS | $1,000.00 – $2,499.99 | 0.15% | 0.15% |
| $2,500.00 – $9,999.99 | 0.15% | 0.15% | |
| $10,000.00 – $24,999.99 | 0.15% | 0.15% | |
| $25,000.00 – $49,999.99 | 0.20% | 0.20% | |
| $50,000.00 – $99,999.99 | 0.25% | 0.25% | |
| $100,000.00 + | 0.25% | 0.25% | |
| 24 MONTHS | $1,000.00 – $2,499.99 | 2.72% | 2.75% |
| $2,500.00 – $9,999.99 | 2.72% | 2.75% | |
| $10,000.00 – $24,999.99 | 2.72% | 2.75% | |
| $25,000.00 – $49,999.99 | 2.72% | 2.75% | |
| $50,000.00 – $99,999.99 | 2.72% | 2.75% | |
| $100,000.00 + | 2.72% | 2.75% | |
| 30 MONTHS | $1,000.00 – $2,499.99 | 0.15% | 0.15% |
| $2,500.00 – $9,999.99 | 0.15% | 0.15% | |
| $10,000.00 – $24,999.99 | 0.15% | 0.15% | |
| $25,000.00 – $49,999.99 | 0.20% | 0.20% | |
| $50,000.00 – $99,999.99 | 0.25% | 0.25% | |
| $100,000.00 + | 0.25% | 0.25% | |
| 36 MONTHS | $1,000.00 – $2,499.99 | 0.20% | 0.20% |
| $2,500.00 – $9,999.99 | 0.20% | 0.20% | |
| $10,000.00 – $24,999.99 | 0.20% | 0.20% | |
| $25,000.00 – $49,999.99 | 0.25% | 0.25% | |
| $50,000.00 – $99,999.99 | 0.30% | 0.30% | |
| $100,000.00 + | 0.30% | 0.30% | |
| 48 MONTHS | $1,000.00 – $2,499.99 | 0.25% | 0.25% |
| $2,500.00 – $9,999.99 | 0.25% | 0.25% | |
| $10,000.00 – $24,999.99 | 0.25% | 0.25% | |
| $25,000.00 – $49,999.99 | 0.30% | 0.30% | |
| $50,000.00 – $99,999.99 | 0.35% | 0.35% | |
| $100,000.00 + | 0.35% | 0.35% |
APY = Annual Percentage Yield. These certificates may be used for Roth, Traditional, or Education IRA accounts. A penalty may be imposed for early withdrawal. $1,000 minimum opening balance. Interest is compounded and credited monthly. Fees could reduce earnings on the account.
¹6-, 9-, and 12-month IRA CDs are currently eligible for Salal Rewards Points.
Table Scrolls Right.
| MINIMUM DAILY BALANCE REQUIREMENT | INTEREST RATE | APY |
|---|---|---|
| $100.00 – $2,499.99 | 0.01% | 0.01% |
| $2,500.00 – $9,999.99 | 0.01% | 0.01% |
| $10,000.00 – $24,999.99 | 0.01% | 0.01% |
| $25,000.00 – $49,999.99 | 0.03% | 0.03% |
| $50,000.00 – $99,999.99 | 0.03% | 0.03% |
| $100,000.00 + | 0.05% | 0.05% |
APY = Annual Percentage Yield. This savings account may be used for Roth, Traditional, or Education IRA accounts. No minimum balance required. Fees could reduce earnings on the account.
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