![]() It doesn't charge fees or require minimums. Like the Kids Savings Account, however, it pays significantly less than the 360 Performance Savings Account. ![]() 360 IRA SavingsĬapital One offers both a traditional and Roth IRA Savings Account. Note that when a child turns 18, their account is automatically converted into a 360 Savings account. It's not, however, the place to park larger amounts of cash for a child. But is it worth a rate that's a full 100 basis points lower?įor small amounts of money where the interest rate won't make much difference, this account works well for a child. And you can set up savings goals, which is a useful feature. It does allow parents to link their child's account to their account. Yes, it doesn't come with fees or minimums, but neither does the 360 Performance Savings account. Why and what makes this account unique for children?įrankly, not much. And in the case of Capital One, its Kids Savings Account pays just 0.50% APY, much lower than the 360 Performance Savings. What makes it any different than any other savings account. That's particularly true for a savings account. I'm always skeptical about financial products aimed at children. It's important to keep in mind that 360 Performance Savings accounts do not come with debit cards, ATM cards or checks. Let's first look at the terms of the 360 Performance Savings account: In addition to a standard account, called 360 Performance Savings, the bank also offers savings accounts for kids and for retirement savings in an IRA. Blue Cash EverydayĬapital One offers several different types of savings accounts. Best Business Credit Card Signup Bonuses.
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