Coverdell Education Savings Accounts can be used to save for education expenses.
Coverdell Education Savings Account |
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Perfect for | Saving for education expenses |
Share account minimum opening deposit | $1 |
Certificate minimum opening deposit | $500 |
Withdrawals | Distributions are tax-free as long as they are used for qualified education expenses before the owner reaches the age of 30. See current IRS guidelines for penalties. |
Note | Contributions are not tax deductible. |
Check our Savings Rates, Certificate Rates and Fee Schedule for current rates and applicable fees. Dividends are calculated daily and credited monthly.