Teach kids about money with an Alliant Kids Savings Account

The perfect teaching tool on how to set savings goals.

Mother and daughter saving money
The Run Down
  • High-rate savings account with interest rate 14x higher71 than most banks
  • Ideal for kids 12 and younger – and an easy way to open a savings account for a grandchild 
  • Joint ownership for parents, grandparents or guardian (joint owner must be an Alliant member)
  • 24/7 ability to review balances and transfer money in online banking and mobile banking
  • No monthly fees22 for members electing eStatements
  • Alliant pays the $5 initial deposit22 to get your child started!
Rates
3.10 %
APY 63
3.06 %

With an average daily balance of $100 or more. APY= Annual Percentage Yield.63 

Simple, quick, secure

Bank like a financial pro with the Alliant mobile app. Make payments, deposit checks, manage cards and so much more. 

Learn more


Why savers choose Alliant

★★★★★
Best Savings Accounts: Kids and Teens
USA Today

★★★★★
Best Savings Accounts: Kids and Teens
CNBC

★★★★★
Best Savings Accounts: Kids and Teens
Investopedia


Why an Alliant Kids Savings Account?

Open to children ages 12 and younger.

Teach the power of compound interest

Show kids how their savings can grow. Once your child or grandchild has $100 or more in a Kids Savings Account, it pays dividends — to the tune of 3.10% APY.63

Start good savings habits

Transfer your child's allowance directly into their account. Easily set up supplemental accounts for your child’s goals, from saving for a bike to setting aside money for college.

Bank effortlessly online or on-the-go

Track child's progress toward savings goals online. Help child deposit birthday/holiday checks with a phone or tablet using our mobile banking app or at an ATM with the complimentary Alliant Savings ATM Card.60

Tips for raising money-smart kids

  • Being smart and safe when using digital banking tools can be critically important: Use the Alliant Mobile Banking App to show kids how to make transactions, monitor their balances, track their interest earned, and deposit their birthday or holiday checks.
  • Link your child’s Alliant Kids Savings Account with your Alliant Savings or Checking account so you can transfer money to the child with just a few clicks. Next time you give your child money, do it digitally.
  • Check out our tips on how to teach kids to save and manage their money.

mother showing daughter how to save on laptop computer

Open a Kids Savings Account

Ready to get started? Apply from your smartphone or computer, 24/7.

Fill out the Kids Savings application online. Joint owner not already an Alliant member? Joint owner will open a separate membership and savings account as part of the application process.

Once the application is approved, use the child's information to setup a username and password for the child's Alliant online banking account.

Setup up recurring transfers to the Kids Savings Account using Alliant online banking or the mobile app.

Kids Savings Account Rates

3.10 %
APY 63
3.06 %

Kids Savings FAQs

As a joint owner on an Alliant Kids Savings account, will I be able to view it in online banking?

Yes, as a joint owner, you can view your child’s Alliant Kids Savings account once given access. To view Alliant joint account(s) within online banking, the primary account owner must first give access.

Your child should log in to Alliant online banking, then click into his or her savings account in the left sidebar of the main My Accounts page.

  • Select “Account Details.”
  • Select “Manage Joint Owners.”
  • Select “Manage Online Access.”
  • Follow the onscreen prompts to select the account(s) your child would like you to have access to.
  • Click the “Update” button. 

After your child completes the above steps, you can then log in to your own Alliant online banking to view your child’s savings account.

My child is older than 12. What kind of savings account should I open for him?

If you would like to open a savings account for a minor who is 13‐17 years old, an Alliant Teen Checking account can be opened which also comes with a savings account.

What happens when my child turns 13 years old?

When your child reaches the age of 13, they will be eligible to apply for the Teen Checking account. Their Alliant Kids Savings Account will remain as a savings account, and any funds in the account will remain in the account unless or until they withdraw or transfer them. The only change is that they will also have the option of applying for an Alliant Teen Checking Account. If they do open a checking account, they will then have a debit card that enables them to access both their savings and checking accounts, so that they can easily transfer funds between the accounts.

Are my account funds insured to protect me from loss?

Alliant deposit accounts are federally insured up to $250,000 by the NCUA. To learn the details of funds coverage, visit the NCUA page on the Alliant website

What are the benefits of a kids savings account?

The Alliant Kids Savings Account is a great way to teach your children about banking and help them develop good money habits. Kids can watch their money grow, and you’ll have access to tools to help them best utilize their account.

How do I setup Online Banking for a Kids Savings account?

You can create a login to access the Kids Savings account in online banking and the mobile app. When you set up your Alliant Online Banking credentials, you should use the minor’s information when setting up the Kids Savings account. If you opened your account over 30 days ago, you will need the membership number (10 digits), which was mailed with the welcome letter after becoming a member.

Once you create a login for yourself and your Kids Savings account, you can link and provide the joint owner access to view the Kids Savings account from their own account login.

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