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College Savings Bank, a Division of NexBank, Tops Ranks for Fifth Consecutive Year in FDIC-insured 529 Plan Study

By JoAnna Rotter on 6/4/2021

In a study1 of FDIC-insured 529 college savings plans, College Savings Bank, a Division of NexBank (CSB) ranked first in the nation based on Annual Percentage Yield (APY) net of fees for Certificates of Deposit (1, 2, and 3-year maturity).  CSB also had the second highest yield in the nation for savings accounts, based on APY net of fees. 

 

This is the fifth consecutive year CSB received top ranks in the study.  The study which was conducted by SavingForCollege.com, a leading independent college savings resource and authority on 529 plans, compares yields of federally-insured investment options offered by thirty-one 529 plans in the nation.

 

CSB is the program manager for Arizona’s Bank Plan and Indiana’s CollegeChoice CD 529 Savings Plan, both available nationwide. CSB’s products are FDIC-insured, have no fees and provide tax benefits.  CSB offers a savings account with a variable rate (0.64% APY2) and a range of fixed-rate certificates of deposit – 3-year certificate of deposit (0.75% APY2), 2-year certificate of deposit (0.65% APY2), and a 1-year certificate of deposit (0.65% APY2).

 

The full FDIC-insured 529 Plan study can be found at https://www.savingforcollege.com/article/new-study-fdic-insured-529-plans.  The data of the study is as of April 30, 2021.