Cardinal Bank pays 5%apy on their Cardinal's Kids Club savings accounts up to $1,000. Link Amounts over $1,000 earn the regular statement savings rate, currently .5%.

Boeing Helicopters Credit Union is offering a 6.14%apy 6 year cd for any members up to age 18.

Field of membership is limited.

Yeah, it sounds exclusionary, but it does make sense for banks & credit unions in the short and long terms. Seniors tend to hoard cash rather than play the stock market, not only because they tend to be less familiar with stocks but also because they need the liquidity and safety of cash/CDs. Since they're more likely to buy CDs than the rest of us, they're a little more sensitive to the rates. (In some sense, you could argue that since young and middle-aged adults have the time horizon to take risk premiums on stocks, we don't need that 0.3% bump on CD rates.)

Kids and teens should get some kind of reward for building good money management skills; my dad's credit union (ncsecu.org) pays a 0.25% interest premium on children's savings accounts, and I duly took advantage of that back then.

It is really no different than Senior Discount Tuesdays or Kids Eat Free deals, so as long as it's not more than a 10-15% spread, it doesn't strike me as some grand scheme of discrimination.
.pc

"I agree with RV that it's not illegal, but giving seniors higher cd rates based on age is ridiculous."

I think a little compassion for the elderly is not such a bad thing.
Everyone has their own views on socities responsibility to the very
old, the young and the poor.
Just keep in mind, older folks who HAVE money to put into cd's are not a burden on society as they have saved and are not eligible for public
assistance such as medicaid, food stamps and section 8 housing as any
amount over $2500. would disqualify you.
Also, during the peak earning years of the oldest retirees, there were
no IRA's or 401k's. The money they saved was taxed when they earned it
and taxed yearly on the interest it earned at tax rates much higher than what we pay today. Many had pensions that went away when the companies
went bankrupt, through no fault of their own.
When a lot of these older people pass away they have and will continue to leave huge amounts of assets to their ungrateful children. And some will
have no heirs, so it will go to charities or to the state.
I myself am 57. I don't mind paying extra for medical insurance at work that covers childbirth. Spreading the cost with the group rather than charging only the people who NEED it , but can least afford it, is a good thing for younger families and I am all for it. I don't mind that 80% of my property tax goes to schools, even though I have no kids in school anymore. I am happy that some of my tax money goes to breaks for young families child care expenses and earned income credits,every little bit helps.
I am sorry for the rant, but I think a lousy .5% for some old folks isn't the end of the world. If we are lucky and hang in there, we may be fortunate enough to collect that huge windfall ourselves someday.

Keypoint Credit Union offers a $10 gift card to either Toy's R Us or Barnes&Noble when you open a kids account with an initial deposit of $100 and subsequent automatic monthly deposits of $25/month. Field of membership

Here's an interesting local offer. USE Credit Union offers a $10 gift card for every 10 deposits with a Penny Penguin Kid's Club savings account. Gift cards are good at McDonald's, Blockbuster, Toys "R" Us and more plus there is no limit on how many gift cards you can earn. Maximum 1 deposit a day. Seems like an in branch deal. Must meet the field of membership.

As advertised in the Courier News, Somerset Valley Bank is offering 5.00% Youth Saver Custodial Savings Accounts. One account per child and the 5.00% rate is only good up to $5,000. Call 1-800-991-4248 for more details.

Central One Federal Credit Union is offering 6% apy on a 3 year Senior Sense Certificate and 6.2% apy on a 5 year Senior Sense Certificate. To qualify for these rates, you must have direct deposit of Social Security or a pension into a Central One Share Draft account. The minimum deposit for these certificates is $10,000. Field of membership for Central One FCU primarily includes those who live work, worship, go to school in, and business and legal entities in a number of Massachusetts counties.