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The best youth savings accounts in Canada

The best kids savings accounts are specifically tailored for youth under 18 and can help them learn about financial responsibility. Compare the best youth accounts in Canada.

Compare youth savings accounts

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  1. TD Bank Youth Savings Account

    0.01%$1 first year return based on$5,000 balance
    Monthly fee
    $0.00
    Transaction fees
    $0.00
    E-transfer
    $0.00
  2. RBC Royal Bank Leos Young Savers Account

    0.01%$1 first year return based on$5,000 balance
    Monthly fee
    $0.00
    Transaction fees
    $0.00
    E-transfer
    $0.00

Best savings accounts in Canada

FAQ

Designed for those under 18 years old, a youth savings account can help get your child acquainted with bank accounts and the value of saving money.

What is a youth savings account?


How to choose the right youth savings account


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Other types of savings accounts

High interest savings accounts

High interest savings accounts pay the most interest of any kind of savings account, but are often only available to people who have reached the age of majority (either 18 or 19 years old, depending on your province).

Tax-free savings accounts

Tax-free savings accounts (TFSAs) are a type of registered saving account that earns interest tax-free. By law, TFSAs can only be opened by Canadians who are 18 years of age and over.

Senior savings accounts

Similarly to how banks offer special accounts with lower fees to children, seniors 65 and over can sometimes take advantage of seniors savings accounts that waive minimum balances and transaction fees.

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With over a decade of experience in the finance industry, Natasha works closely with Canada's top financial institutions - from banks to credit unions - to help Ratehub.ca's 1,200,000 monthly users get matched with the right banking products. read full bio

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