Friday, September 11, 2020
College Savings Bank, a Division of NexBank
Tops Ranks for Fourth Consecutive Year in FDIC-insured 529 Plan Study
In a study1 of FDIC-insured 529 plans, College Savings Bank, a Division of NexBank (CSB) ranked first nationally based on Annual Percentage Yield (APY) net of fees for Certificates of Deposit of 1-, 2-, and 3-year maturities. CSB also ranked in the first quartile for savings accounts based on APY net of fees.
The study was conducted by SavingForCollege.com, a leading independent college savings resource and authority on 529 plans, and compares the yields of federally-insured investment options offered by twenty-eight 529 plans in the U.S.
Since the study was published on June 30, 2020, CSB changed its rates. CSB continues to hold the position of first in the nation for Certificates of Deposit (1, 2 and 3-year) based on APY net of fees and remains in the first quartile for savings accounts based on APY net of fees.
Read the study here: https://web-resources.savingforcollege.com/uploads/2020-JUN-Federally-Insured-Products-in-529-Plans.pdf
1) Savingforcollege.com: “2020 FDIC-insured products in 529 Plans.” SavingForCollege.com, June 2020. https://web-resources.savingforcollege.com/uploads/2020-JUN-Federally-Insured-Products-in-529-Plans.pdf. FDIC-insured 529 Plan savings accounts and certificates of deposit accounts ranked by APY (Annual Percentage Yield) net of fees