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Coverdell Education Savings Account
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| It's never too early to start building a college fund for your child. With
a Coverdell Education Savings Account, you can invest up to $2000 a year for
each beneficiary (under the age of 18) - and all of the earnings are tax-free.
Start your account at Guaranty Bank with as little as $100, and then transfer
to a higher-earning CD as your account balance grows. And grow it will, because
your money is FDIC-insured. |
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Learn more about Coverdell Education Savings Accounts by reading our answers to Frequently Asked Questions.
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Features of Coverdell Education Savings Account
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- Tax-free earnings
- Flexibility in how you invest
- Fixed rate and fixed term with an IRA CD
- Variable rate, tiered interest, no fixed term with an EasySaver™ IRA
- FDIC-insured
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Minimum Opening Deposit
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$100: EasySaver™ Coverdell Education Savings Account
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$1,000: Coverdell Education Savings Account CD
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Account Specifications
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- Interest compounded quarterly
- Distributions may only be used for qualified higher-education
expenses such as tuition, fees, books, room and board,
transportation, supplies, uniforms, and technology and equipment
- Contributions must be made before the beneficiary turns 18
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Guaranty Bank offers a variety of services that provide convenience and security to your accounts.
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Equal Housing Lender.
