If you are a college or a high-school student, it’s always a good idea to open a savings account to maintain and add to your personal savings. As a student, minimum opening deposit, low interest rates, mobile/online banking accessibility, and low service fees are some of the factors to consider before selecting a bank to open an account with. Here’s a list of the best savings accounts for students:

• Capital One Kids Savings Account
  This savings account requires no minimum opening deposit and doesn’t charge any extra service fees. It provides an Annual Percentage Yield (APY) of 0.5 percent, which is more than most banks. You can also select the Parental Control and Saving Goal features if you want. The Capital One Kids Savings Account is, however, an online-only account and doesn’t provide you with 24/7 customer support.
• DCU Primary Savings Account
  One of the best savings accounts for students, the DCU Primary Savings Account provides users with a high 6.17 percent APY on the first $1,000 they deposit. After that, the bank gives an APY of 0.25 percent on the remaining balance. Also, the minimum deposit required is just $5, and the bank doesn’t charge a monthly service fee either. However, due to the limited number of branches, only residents of areas near Massachusetts can open an account in the DCU.
• Synchrony High Yield Savings Account
  This online account isn’t especially for students but offers impressive benefits. With the Synchrony High Yield Savings account, you can open an account with no deposit, and you don’t have to maintain a minimum balance or pay a monthly service charge. The bank offers a comparatively high APY of 1.3%, regardless of the balance in your account. One drawback of having an account with this bank is that you cannot withdraw more than $1,000 from an ATM per day or make a purchase of more than $500 at a point of sale.
• Golden 1 Youth Savings Account
  Among the best savings accounts for students is the Golden 1 Youth Savings Account, which requires only a $1 deposit amount. You can open this account online without a monthly service charge, and the bank offers an APY of 0.1 percent. However, to be eligible for a Golden 1 Youth Savings Account, you need to reside in California and have a family member who already has a Golden 1 account.
• BECU Early Saver Youth Account
  If you want to teach your teen the value for money, the BECU Early Saver Youth Account might be your best bet. Perfect for students under 18, this account offers a high APY of 4.07 percent on the first $500 and 0.02 percent on the remaining balance. Also, it doesn’t charge any monthly service fees and gives you a free ATM card when you open an account. However, you need to be a Boeing employee or reside in Washington State or a few selected counties of Idaho and Oregon to qualify for opening this account.