couple gazes at phone to learn more about the Coverdell Education Savings account

Better Education Savings Begin With Coverdell (and Us)

Secondary education is an important investment. A plan to begin saving for your child, grandchild or beneficiary is even more important. That’s why our Coverdell Education Savings account makes sense: It earns tax-free interest and features a low minimum balance, designed to keep you connected with what matters most.

A Better Way to Higher Education

Designed for students aged 18 and younger, this account features a low minimum balance of only $100 and tax-free1 interest potential for higher education, secondary schooling and other similar learning expenses.

The Coverdell Education Savings account is a widely embraced alternative to the 529 plan, which limits users to reallocating funds within a select portfolio range to only twice per year. Instead, this account option is different, and it allows you to choose virtually any investment you like. Ultimately, it gives you more control over and flexibility with your rate of return.

Planning – and saving – for the future just got easier. Let’s get in touch to get started today!

Message Us

Send questions and feedback.

Call Us

800-423-3344

Visit Us

Find a location near you.

Which Account Is Right for Me? Let’s Compare Options.

All Gate City Bank savings accounts come with exclusive benefits of better earning, including:
  • Competitive interest rates
  • Low minimum deposit requirements to open
  • Seamlessly deposit, transfer or withdraw funds in person or electronically
  • Easily enable Simply Save to round up your purchase from a specified checking account and add it automatically to your savings account!
Features Regular Savings Relationship Savings Money Market Savings Minor Savings Coverdell Education Savings
Get started. Open This Account Open This Account Open This Account
Minimum to Open $50 $50 $500 None $100
Minimum to Earn APY2 $200 $100 $500 None $100
Higher Interest Rates Available Not Included. Included. Included. Not Included. Not Included.
FREE Checks Not Included. Not Included. Included. Not Included. Not Included.
Tax-Free Interest Option1 Not Included. Not Included. Not Included. Not Included. Included.
Learn more. Account Details Account Details Account Details Account Details Account Details
  • Regular Savings

  • Relationship Savings

  • Money Market Savings

  • Minor Savings

    • Minimum to Open None
    • Minimum to Earn APY2 None
    • Higher Interest Rates Available Not Included.
    • FREE Checks Not Included.
    • Tax-Free Interest Option1 Not Included.
    • Account Details
  • Coverdell Education Savings

    • Minimum to Open $100
    • Minimum to Earn APY2 $100
    • Higher Interest Rates Available Not Included.
    • FREE Checks Not Included.
    • Tax-Free Interest Option1 Included.
    • Account Details

A Brighter Future Awaits.

father and young son sit together and open the best savings account for kids

Minor Savings

Looking for a savings account that’s perfect for kids of any age? Our user-friendly minor savings option features no fees, competitive interest rates and no minimum balance.

woman in kitchen holds coffee and uses phone to enjoy a low minimum account balance

Relationship Savings

Interested in a savings account that offers no fees, competitive interest rates and a lower minimum balance? Our relationship savings account may be the perfect option for you!

guy in glasses and purple shirt enjoys great savings account rates on phone

Regular Savings

Looking for a savings account that’s perfect for your walk of life? Our regular savings option features no fees, competitive interest rates and a low minimum balance.

happy man in office enjoys money market savings with phone and tablet

Money Market Savings

Looking for a savings account with a higher interest rate? Our user-friendly money market savings option features no fees, a great interest rate and a modest minimum balance. 

1 Consult with a tax professional to understand what impact CESA may have on your tax situation.

2 Maintain the minimum daily balance to maintain the disclosed annual percentage yield. The interest rate and annual percentage yield are accurate as of the effective date shown above only, and are subject to change without notice, at Gate City Bank’s discretion. Fees could reduce earnings on the account.