I'm still very happy with Ally for general banking - still prefer their app over others that I have seen. For Savings they are still very good but also have a "

I'm still very happy with Ally for general banking - still prefer their app over others that I have seen. For Savings they are still very good but also have a "No Penalty CD" thats at 4.25% APR and their "High Yield CD" is at 4.8% for 18 months https://www.ally.com/bank/cd-rates/ https://www.ally.com/bank/cd-rates/ For kids we did go with Chase, and I maintain a balance to avoid fees and allow for a monthly transfer for allowances. I have a recurring transfer from Ally to Chase to keep things level. Easy to setup and forget about. https://account.chase.com/banking/first-banking https://account.chase.com/banking/first-banking That aside... I think you may want to look at US Treasury "Series I Savings Bonds". The rate changes every 6 months but you can lock in a 6.89% for that time (if you get them before April 30, 2023). Again, you need to keep them for at least a year and other terms apply. Their website is not great but once you get over that.... https://www.treasurydirect.gov/ https://www.treasurydirect.gov/