{"id":1044007,"date":"2024-09-04T00:33:15","date_gmt":"2024-09-04T04:33:15","guid":{"rendered":"https:\/\/www.finder.com\/ca\/?p=1044007"},"modified":"2026-09-02T10:20:46","modified_gmt":"2026-09-02T14:20:46","slug":"tangerine-business-savings-account-review","status":"publish","type":"post","link":"https:\/\/www.finder.com\/ca\/banking\/business-banking\/tangerine-business-savings-account-review","title":{"rendered":"Tangerine Business Savings Account review"},"content":{"rendered":"<h3>Tangerine Business Savings Account: The basics<\/h3><ul><li><strong>Earn up to 2.55% interest.<\/strong> This account has a tiered interest rate structure \u2014 the bigger your balance, the higher your rate. Rates are as follows:<ul><li>$0 \u2013 $99,999.99: 1.95%<\/li><li>$100,000 \u2013 $499,999.99: 2.05%<\/li><li>$500,000or more: 2.55%<\/li><\/ul><\/li><li><strong>No monthly fee<\/strong>. You don\u2019t need to pay a monthly fee with the Tangerine Business Savings Account.<\/li><li><strong>No minimum balance requirement.<\/strong> You don\u2019t need to meet a minimum daily or monthly balance requirement in order to earn interest on your savings.<\/li><\/ul><h3>What are the benefits of the Tangerine Business Savings Account?<\/h3><ul class=\"list-1\"><li><strong>No strings attached<\/strong>. There are no terms and conditions you need to meet in order to earn interest on your balance. While some other accounts require you to deposit a certain amount each month or meet a minimum balance requirement, there are no such restrictions with the Tangerine Business Savings Account.<\/li><li><strong>Unlimited transactions<\/strong>. You can make unlimited transactions with the Tangerine Business Savings Account, so there are no deposit or withdrawal fees to worry about.<\/li><li><strong>Access your funds when needed<\/strong>. If an unexpected expense arises, you can enjoy fast access to funds by withdrawing the money you need to a linked chequing account.<\/li><li><strong>Manage your money 24\/7.<\/strong> You can manage your account at any time online or via the Tangerine mobile banking app.<\/li><li><strong>CDIC protection.<\/strong> Tangerine is a member of the Canada Deposit Insurance Corporation, so deposits of up to $100,000 are covered in the unlikely event that the bank fails.<\/li><\/ul><h3>What are the drawbacks of the Tangerine Business Savings Account?<\/h3><ul class=\"list-3\"><li><strong>Tiered interest rates.<\/strong> You\u2019ll need a balance of $500,000 or more to earn the maximum interest rate of 2.55%.<\/li><li><strong>Higher interest rates available elsewhere.<\/strong> You may be able to find a higher interest rate on business savings accounts from other banks \u2014 but it\u2019s worth noting that these accounts often come with minimum balance requirements.<\/li><li><strong>Not a chequing account.<\/strong> This is a high-interest savings account, not a business chequing account, so it\u2019s not designed to be used to manage your day-to-day banking.<\/li><li><strong>Need a chequing account with a separate bank.<\/strong> Tangerine doesn\u2019t offer a business chequing account, so you\u2019ll need a chequing account with a separate financial institution. This is inconvenient if you prefer to do all your banking with a single bank.<\/li><li><strong>Dormancy fee.<\/strong> If it\u2019s been two years since you last logged in to or accessed your account, a dormancy fee of $20 per year applies.<\/li><li><strong>Need to be a personal client.<\/strong> You\u2019ll need to have a personal Tangerine client number before you can open a Business Savings Account.<\/li><li><strong>No physical branches.<\/strong> Tangerine is an online-only bank, so you can\u2019t visit a branch to get face-to-face customer service if needed.<\/li><\/ul><h3>Compare other business bank accounts<\/h3><script id=\"toppicks-datalayer\">\n  window.dataLayerState = [{\"TopPicksData_cardCategory\":\"Digital access\",\"TopPicksData_providerLabel\":\"RBC\",\"TopPicksData_primaryCta\":\"true\",\"TopPicksData_hasReward\":\"false\",\"TopPicksData_position\":1},{\"TopPicksData_cardCategory\":\"Cashback 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                      <div class=\"topPicks__descriptionRow\">\n                                          <ul class=\"topPicks__features\">\n                                                                              <li><svg class=\"topPicks__featureIcon luna-icon\" width=\"18\" height=\"18\" style=\"--fill: #008024\" aria-hidden=\"true\" focusable=\"false\"><use xlink:href=\"#check-circle-fill\"><\/use><\/svg><span>USD, GBP, EUR accounts<\/span><\/li>\n                                                                                                        <li><svg class=\"topPicks__featureIcon luna-icon\" width=\"18\" height=\"18\" style=\"--fill: #008024\" aria-hidden=\"true\" focusable=\"false\"><use xlink:href=\"#check-circle-fill\"><\/use><\/svg><span>Multi-currency credit card<\/span><\/li>\n                                                                                                        <li><svg class=\"topPicks__featureIcon luna-icon\" width=\"18\" height=\"18\" style=\"--fill: #008024\" aria-hidden=\"true\" focusable=\"false\"><use xlink:href=\"#check-circle-fill\"><\/use><\/svg><span>Pay bills in 37 currencies<\/span><\/li>\n                                                                                                        <li><svg class=\"topPicks__featureIcon luna-icon\" width=\"18\" height=\"18\" style=\"--fill: #008024\" aria-hidden=\"true\" focusable=\"false\"><use xlink:href=\"#check-circle-fill\"><\/use><\/svg><span>Avoid FX fees<\/span><\/li>\n                                                                                                        <li><svg class=\"topPicks__featureIcon luna-icon\" width=\"18\" height=\"18\" style=\"--fill: #008024\" aria-hidden=\"true\" focusable=\"false\"><use xlink:href=\"#check-circle-fill\"><\/use><\/svg><span>For registered Canadian corporations only<\/span><\/li>\n                                                                        <\/ul>\n                                      <\/div>\n                              <\/div>\n\n            <\/article>\n\n                      <\/div>\n              <\/div>\n    <\/div>\n  <\/div>\n<h3>Is Tangerine legit?<\/h3><p>Tangerine Bank started life in Canada in 1997 as ING Direct. Acquired by Scotiabank in 2012, its name was soon changed to Tangerine.<\/p><p>Tangerine Bank is a wholly-owned subsidiary of The Bank of Nova Scotia. It is a member of industry associations such as The Canadian Payments Association and Interac, and it\u2019s also a member of the Canada Deposit Insurance Corporation.<\/p><h3>What should I know before I apply?<\/h3><p>You\u2019ll need to have a business chequing account with another financial institution to open a Tangerine Business Savings Account.<\/p><p>You\u2019ll also need to sign up as a personal Tangerine client before you can open a business account. This can be done online.<\/p><h3>How do I open a Tangerine Business Savings Account?<\/h3><p>You can open an account by completing the following steps:<\/p><ol><li>Visit the Tangerine Business Savings Account website and click \u201cOpen an account\u201d.<\/li><li>If you already have a Tangerine personal client number, you can enter your login details to begin an application. If not, you\u2019ll first need to sign up as a personal client by completing the next steps.<\/li><li>Enter your email address and create a banking PIN.<\/li><li>Provide your name, personal information and contact details.<\/li><li>Once you have a personal client number, complete the application for a Business Savings Account.<\/li><\/ol><h3>Bottom line<\/h3><p>The Tangerine Business Savings Account is well worth a look if you want to boost your bottom line. It pays a competitive rate and has no fees or minimum balance requirements, making it easy to grow your money. Just be aware that a tiered interest rate structure applies, so you\u2019ll need a balance of $500,000 or more to earn the maximum advertised rate.<\/p><p>Compare the Tangerine Business Savings Account with a wide range of other savings accounts before deciding which one is the best fit for your business.<\/p><h3>Frequently asked questions<\/h3><ul class=\"luna-accordionGroup accordionGroup\">\n\t<li class=\"luna-accordion\" data-accordion=\"accordion\">\n    <div class=\"luna-accordion__summary\">\n        <h4 class=\"luna-accordion__heading\">\n            <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"faq-builder-0000000001\" data-toggle=\"collapse\" data-target=\"#faq-builder-0000000001\">\n                <span class=\"luna-accordion__title\">Is there a minimum balance required to open a Tangerine Business Savings Account?<\/span>\n                <svg class=\"luna-icon\" aria-hidden=\"true\">\n                    <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n                    <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n                <\/svg>\n            <\/button>\n        <\/h4>\n    <\/div>\n    <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"faq-builder-0000000001\" data-accordion=\"details\">\n        <div class=\"accordionContent\">\n            <div>\n                <p>No, this account does not have any minimum balance or monthly deposit requirements.<\/p>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/li>\n<li class=\"luna-accordion\" data-accordion=\"accordion\">\n    <div class=\"luna-accordion__summary\">\n        <h4 class=\"luna-accordion__heading\">\n            <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"faq-builder-0000000002\" data-toggle=\"collapse\" data-target=\"#faq-builder-0000000002\">\n                <span class=\"luna-accordion__title\">What fees come with the Tangerine Business Savings Account?<\/span>\n                <svg class=\"luna-icon\" aria-hidden=\"true\">\n                    <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n                    <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n                <\/svg>\n            <\/button>\n        <\/h4>\n    <\/div>\n    <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"faq-builder-0000000002\" data-accordion=\"details\">\n        <div class=\"accordionContent\">\n            <div>\n                <p>The Tangerine Business Savings Account has no monthly fee and it's free to make deposits and withdrawals. However, a dormancy fee of $20 per year applies once you haven't logged in to or accessed your account for 2 years. This fee increases to $40 once your account has been dormant for 10 years.<\/p>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/li>\n<li class=\"luna-accordion\" data-accordion=\"accordion\">\n    <div class=\"luna-accordion__summary\">\n        <h4 class=\"luna-accordion__heading\">\n            <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"faq-builder-0000000003\" data-toggle=\"collapse\" data-target=\"#faq-builder-0000000003\">\n                <span class=\"luna-accordion__title\">Can I open a business chequing account with Tangerine?<\/span>\n                <svg class=\"luna-icon\" aria-hidden=\"true\">\n                    <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n                    <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n                <\/svg>\n            <\/button>\n        <\/h4>\n    <\/div>\n    <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"faq-builder-0000000003\" data-accordion=\"details\">\n        <div class=\"accordionContent\">\n            <div>\n                <p>No, Tangerine doesn't offer any business chequing accounts. You'll need to link your Tangerine Business Savings Account to a chequing account at another financial institution.<\/p>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/li>\n<li class=\"luna-accordion\" data-accordion=\"accordion\">\n    <div class=\"luna-accordion__summary\">\n        <h4 class=\"luna-accordion__heading\">\n            <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"faq-builder-0000000004\" data-toggle=\"collapse\" data-target=\"#faq-builder-0000000004\">\n                <span class=\"luna-accordion__title\">Does Tangerine offer any other savings accounts for businesses?<\/span>\n                <svg class=\"luna-icon\" aria-hidden=\"true\">\n                    <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n                    <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n                <\/svg>\n            <\/button>\n        <\/h4>\n    <\/div>\n    <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"faq-builder-0000000004\" data-accordion=\"details\">\n        <div class=\"accordionContent\">\n            <div>\n                <p>Yes, Tangerine also offers a Business US Dollar Savings Account that pays interest on USD account balance and has no monthly fee or minimum balance requirement. Read our full review for more details.<\/p>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/li>\n<li class=\"luna-accordion\" data-accordion=\"accordion\">\n    <div class=\"luna-accordion__summary\">\n        <h4 class=\"luna-accordion__heading\">\n            <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"faq-builder-0000000005\" data-toggle=\"collapse\" data-target=\"#faq-builder-0000000005\">\n                <span class=\"luna-accordion__title\">How does interest work on the Tangerine Business Savings Account?<\/span>\n                <svg class=\"luna-icon\" aria-hidden=\"true\">\n                    <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n                    <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n                <\/svg>\n            <\/button>\n        <\/h4>\n    <\/div>\n    <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"faq-builder-0000000005\" data-accordion=\"details\">\n        <div class=\"accordionContent\">\n            <div>\n                <p>Interest is calculated daily and paid monthly. The interest rate you get ranges from 1.95% to 2.55% and varies depending on your account balance. To earn the maximum interest rate of 2.55%, you'll need to have a balance of $500,000 or more.<\/p>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/li>\n\n<\/ul>","protected":false},"excerpt":{"rendered":"<p>Learn about the rates, fees and eligibility criteria of the Tangerine Business Savings Account.<\/p>\n","protected":false},"author":516,"featured_media":1082450,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_focuskw":"","_yoast_wpseo_title":"Tangerine Business Savings Account review | Finder Canada","_yoast_wpseo_metadesc":"Need a business savings account? 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However, a dormancy fee of $20 per year applies once you haven't logged in to or accessed your account for 2 years. This fee increases to $40 once your account has been dormant for 10 years."}},{"@type":"Question","name":"Can I open a business chequing account with Tangerine?","acceptedAnswer":{"@type":"Answer","text":"No, Tangerine doesn't offer any business chequing accounts. You'll need to link your Tangerine Business Savings Account to a chequing account at another financial institution."}},{"@type":"Question","name":"Does Tangerine offer any other savings accounts for businesses?","acceptedAnswer":{"@type":"Answer","text":"Yes, Tangerine also offers a Business US Dollar Savings Account that pays interest on USD account balance and has no monthly fee or minimum balance requirement. Read our full review for more details."}},{"@type":"Question","name":"How does interest work on the Tangerine Business Savings Account?","acceptedAnswer":{"@type":"Answer","text":"Interest is calculated daily and paid monthly. The interest rate you get ranges from 1.95% to 2.55% and varies depending on your account balance. To earn the maximum interest rate of 2.55%, you'll need to have a balance of $500,000 or more."}}]}]},"article_modified_time":"2026-08-13T07:03:05+00:00"},"custom_fields":{"_masthead_variant":["{\"id\":\"standard-blue\",\"showFeaturedImage\":false,\"presetId\":\"\",\"shouldUsePrimaryCTAFieldName\":false,\"shouldUseSecondaryCTAFieldName\":false,\"primaryCTA\":null,\"secondaryCTA\":null,\"widgetShortcode\":\"\",\"widgetHeading\":\"\",\"widgetStats\":\"\",\"hasPrioritizedWidget\":false,\"hasMaximizedWidget\":false,\"shouldUseOverrideCTALabel\":false,\"overrideCTA\":null,\"cleanTopPicks\":\"\",\"tilesMenuId\":\"\"}"],"show_author_box":["yes"],"_masthead_subheading":["{\"text\":\"Earn [nb:value niche_code=&quot;CAFSA-BUS&quot; record_type=&quot;PRODUCT&quot; record_id=&quot;5ecde1c0-14ce-42be-a75f-b7f9bf6fa567&quot; field=&quot;RATES.APY3&quot; decorator=&quot;GLOBAL.VALUE.PERCENTAGE&quot;] to [nb:value niche_code=&quot;CAFSA-BUS&quot; record_type=&quot;PRODUCT&quot; record_id=&quot;5ecde1c0-14ce-42be-a75f-b7f9bf6fa567&quot; field=&quot;RATES.INTEREST_RATE&quot; decorator=&quot;GLOBAL.VALUE.PERCENTAGE&quot;] interest on your business savings, but you&rsquo;ll need a balance of [nb:value niche_code=&quot;CAFSA-BUS&quot; record_type=&quot;PRODUCT&quot; record_id=&quot;5ecde1c0-14ce-42be-a75f-b7f9bf6fa567&quot; field=&quot;RATES.APY3_MIN&quot; decorator=&quot;GLOBAL.VALUE.MONEY&quot;] or more to get the maximum rate.\"}"],"_content_type":["niche-content\/recommendation\/product-review"],"custom_post_template":["single-product-review.php"]},"amp_enabled":false,"_links":{"self":[{"href":"https:\/\/www.finder.com\/ca\/wp-json\/wp\/v2\/posts\/1044007","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.finder.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.finder.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.finder.com\/ca\/wp-json\/wp\/v2\/users\/516"}],"replies":[{"embeddable":true,"href":"https:\/\/www.finder.com\/ca\/wp-json\/wp\/v2\/comments?post=1044007"}],"version-history":[{"count":6,"href":"https:\/\/www.finder.com\/ca\/wp-json\/wp\/v2\/posts\/1044007\/revisions"}],"predecessor-version":[{"id":1083079,"href":"https:\/\/www.finder.com\/ca\/wp-json\/wp\/v2\/posts\/1044007\/revisions\/1083079"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.finder.com\/ca\/wp-json\/wp\/v2\/media\/1082450"}],"wp:attachment":[{"href":"https:\/\/www.finder.com\/ca\/wp-json\/wp\/v2\/media?parent=1044007"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.finder.com\/ca\/wp-json\/wp\/v2\/categories?post=1044007"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.finder.com\/ca\/wp-json\/wp\/v2\/tags?post=1044007"},{"taxonomy":"asset_tag","embeddable":true,"href":"https:\/\/www.finder.com\/ca\/wp-json\/wp\/v2\/asset_tag?post=1044007"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}