Coverdell Education Savings Account

Invest in your child’s education from kindergarten to college with a Coverdell Education Savings Account (ESA).

Save for your child’s future with a Coverdell Education Savings Account. This account offers the potential for tax-free interest earnings when used for qualified educational expenses, giving you a smart way to plan for your child's academic future.

Contribution Eligibility and Amount:

  • Flexible Contributions: There’s no requirement to have earned income to contribute to a Coverdell ESA. However, contribution limits may apply based on your income level.
  • Not Tax-Deductible: Contributions aren’t tax-deductible, but the tax-deferral benefits make this account a valuable tool for education savings. Check with your tax advisor for personalized advice.

Allowable Contribution Amount:

  • For Single Filers:
    • Less than $95,000: Full $2,000 contribution allowed
    • $95,000 to $110,000: Partial contribution allowed
    • Over $110,000: No contribution allowed
  • For Married, Joint Filers:
    • Less than $190,000: Full $2,000 contribution allowed
    • $190,000 to $220,000: Partial contribution allowed
    • Over $220,000: No contribution allowed

Start planning for your child’s educational success. Open a Coverdell ESA at a Capitol Federal branch today!

Blue Bucks® Kids’ Savings Account

A Blue Bucks® Kids’ Savings account is a great way to teach the kids in your life the importance of saving.

  • Low initial investment of $25 
  • Easy online transfers between CapFed® parent and child accounts
  • Blue Bucks Kids’ Club newsletters and activities
  • VIP Parking at most of our locations
Learn More

Featured Certificate of Deposit Rate

12-Month CD
2.25 % APY

Open online or at any CapFed® branch.

*APY = Annual Percentage Yield. May be subject to early withdrawal penalty. $1,000 minimum balance to open and earn APY. Certain restrictions apply when opening an account online. Interest compounded daily and paid quarterly for all terms except 91 Days and 182 days. The interest is compounded daily and paid at maturity for the 91 Days and 182 Days term of deposit. Rates subject to change.
Open Online
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