At MoneyRates, we rate a range of banking products, including savings, checking, CD, money market, investment, retirement accounts, and loans. For each account we evaluate, we assign a star rating ranging from 1 (poor) to 5 (perfect) based on a set of key factors. These factors include interest rates, fees, accessibility, customer service, user experience, money management tools, and technology. By considering all these factors, we aim to provide consumers with a clear and accurate picture of the products they are considering, allowing them to make informed decisions about their finances. Our reviews are unbiased and thorough, focusing on consumer needs. For details, see our , Looking for the best tax-free savings account? Learn how a TFSA can help you build wealth faster while avoiding taxes on interest and investment gains., 529 Education Fund: Allows saving for education expenses with tax-deferred accumulation and potentially tax-free distributions for eligible education costs. U.S. Series I Savings Bond: Exempt from state and local taxes but subject to federal tax on interest income, with some qualified educational expenses tax-free depending on income limits..