A Coverdell Education Savings Account (ESA) works like an IRA except the funds are to be used for educational purposes. We offer both an open deposit account and Certificates of Deposit. There may be tax benefits or ramifications so please consult a tax advisor to see if this product is right for you.
Dividends pay monthly on open deposit accounts and quarterly on Certificates of Deposit (unless requested otherwise). There are minimum deposit requirements for Certificates of Deposit-early withdrawal penalties apply.