Fidelity Investments has added a bank deposit portfolio to its five direct-sold 529 college savings plans: New Hampshire’s UNIQUE College Investing Plan, California’s ScholarShare College Savings Plan, Massachusetts’ U.Fund College Investing Plan, the Delaware College Investment Plan and the Fidelity Arizona College Savings Plan.
The account is an FDIC-insured, interest-bearing Negotiable Order of Withdrawal account, meaning that checks can be written against it. The option rounds out Fidelity’s 529 Conservative Portfolio and Index Conservative Portfolio, which both invest in money market, short term and other fixed income investments. The 529 Money Market Portfolio is also available; it invests in short-term debt obligations such as U.S. Treasury bills and certificates of deposit.
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