{"id":1046505,"date":"2024-10-25T14:14:51","date_gmt":"2024-10-25T18:14:51","guid":{"rendered":"https:\/\/www.finder.com\/ca\/?p=1046505"},"modified":"2026-07-31T15:59:35","modified_gmt":"2026-07-31T19:59:35","slug":"savings-account-interest-rates","status":"publish","type":"post","link":"https:\/\/www.finder.com\/ca\/savings-accounts\/savings-account-interest-rates","title":{"rendered":"Savings account interest rates"},"content":{"rendered":"

The interest rate is the most important factor to consider when comparing savings accounts\u2014the higher the rate, the faster your balance will grow. In this guide, we\u2019ll show you the best savings account interest rates from the Big Five, popular digital banks and major credit unions to help you choose an account and reach your savings goals sooner.<\/p>

Summary: Savings account interest rates in Canada<\/h3>

Check out the table below for savings account interest rates currently available from a wide range of major banks, digital banks and credit unions in Canada.<\/p>
Bank<\/th>Savings account<\/th>Standard interest rate<\/th>Promo rate<\/th>Learn more<\/th><\/tr><\/thead>
EQ Bank<\/strong><\/td>Notice Savings Account<\/td>2.35% - 2.75%<\/span><\/td> \n \n\nNo promotion available<\/td>
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Neo<\/strong><\/td>Savings Account<\/td>2% \u2013 2.75%<\/td> \n \n\nNo promotion available<\/td>
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KOHO Essential Plan<\/strong><\/td>High Interest Savings Account<\/td>2%<\/td> \n \n\nNo promotion available<\/td>
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KOHO Everything Plan<\/strong><\/td>High Interest Savings Account<\/td>3.50%<\/td> \n \n\nNo promotion available<\/td>
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Scotiabank<\/strong><\/td> Scotia High Interest Savings Account<\/td>0.75%<\/td> \n \n\nEarn up to 5% for the first 3 months when you open your first Scotia High Interest Savings Account. T&Cs apply.<\/td>
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Simplii Financial<\/strong><\/td>High Interest Savings Account<\/td>0.3% \u2013 1%<\/td> \n \n\nEarn 4.60% interest for 5 months on up to $200,000 in savings. Terms Apply. Offer ends October 31, 2026.<\/b><\/td>
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Wealthsimple<\/strong><\/td>Chequing Account<\/td>1.25% \u2013 2.25%<\/td> \n \n\nGet a $25 cash bonus when you open your first Wealthsimple account and fund at least $1 within 30 days. Plus, earn up to 2.25% interest.<\/td>
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Achieva Financial<\/strong><\/td>Daily Interest Savings Account<\/td>1.8%<\/td> \n \n\nNo promotion available<\/td>
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Alterna Bank<\/strong><\/td>High Interest eSavings Account<\/td>1.15%<\/td> \n \n\nNo promotion available<\/td>
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ATB Financial<\/strong><\/td>Springboard Savings Account<\/td>0.2% \u2013 0.7%<\/td> \n \n\nGet 4.70% bonus interest on new deposits. Terms Apply. Offer ends March 31, 2026.<\/td>Learn More<\/a><\/td><\/tr>
BMO<\/strong><\/td>Savings Amplifier Account<\/td>0.45%<\/td> \n \n\nNo promotion available<\/td>
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Bridgewater<\/strong><\/td>Bridgewater Smart eSavings Account<\/td>2.7%<\/td> \n \n\nNo promotion available<\/td>
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Canadian Tire Bank<\/strong><\/td>Canadian Tire High Interest Savings Account<\/td>2.4%<\/td> \n \n\nNo promotion available<\/td>
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CIBC<\/strong><\/td>CIBC eAdvantage Savings Account<\/td>0.30% - 0.60%<\/td> \n \n\nGet a special 4.60% offer for 3 months when you open your first account.<\/td>
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CI Direct Investing<\/strong><\/td>CI Direct Investing High Rate Savings Account<\/td>1.25%<\/td> \n \n\nNo promotion available<\/td>Read review<\/a><\/td><\/tr>
Coast Capital Savings<\/strong><\/td>Coast Capital High-Interest Savings Account<\/td>0.3%<\/td> \n \n\nNo promotion available<\/td>Learn More<\/a><\/td><\/tr>
DUCA<\/strong><\/td>Earn More Savings Account<\/td>0.25%<\/td> \n \n\nNo promotion available<\/td>Learn More<\/a><\/td><\/tr>
FirstOntario Credit Union<\/strong><\/td>FirstOntario Credit Union \u200bHigh Interest eSavings Account<\/td>0.60% - 0.80%<\/span><\/td> \n \n\nNo promotion available<\/td>Learn More<\/a><\/td><\/tr>
Hubert<\/strong><\/td>Hubert Happy High-Interest Savings<\/td>2.3%<\/td> \n \n\nNo promotion available<\/td>Learn More<\/a><\/td><\/tr>
ICICI Bank Canada<\/strong><\/td>HiSAVE Savings Account<\/td>1.25%<\/span><\/td> \n \n\nNo promotion available<\/td>Learn More<\/a><\/td><\/tr>
Innovation Credit Union<\/strong><\/td>Savings Account<\/td>0.6%<\/td> \n \n\nNo promotion available<\/td>Learn More<\/a><\/td><\/tr>
Laurentian Bank<\/strong><\/td>High Interest Savings Account<\/td>1% \u2013 2.2% (for balances up to $100,000)<\/td> \n \n\nNo promotion available<\/td>
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Manulife Bank<\/strong><\/td>Advantage Account<\/td>1.5%<\/td> \n \n\nNo promotion available<\/td>Learn More<\/a><\/td><\/tr>
Meridian Credit Union<\/strong><\/td>High Interest Savings Account<\/td>0.85%<\/td> \n \n\nNo promotion available<\/td>Learn More<\/a><\/td><\/tr>
National Bank<\/strong><\/td>High Interest Savings Account<\/td>0.55%<\/td> \n \n\nNo promotion available<\/td>
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Oaken Financial<\/strong><\/td>Oaken Financial Savings Account<\/td>2.8%<\/td> \n \n\nNo promotion available<\/td>Learn More<\/a><\/td><\/tr>
PC Financial<\/strong><\/td>PC Money Account<\/td>2.2%<\/td> \n \n\nEarn 150,000 bonus PC Optimum points (equal to $150) when you open a PC Money Account.<\/td>Learn More<\/a><\/td><\/tr>
RBC<\/strong><\/td>High Interest eSavings<\/td>0.55%<\/td> \n \n\nEarn 4.60% interest for 3 Months when you open your 1st RBC High Interest eSavings account.<\/td>
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Servus Credit Union<\/strong><\/td>Premium Savings Account<\/td>0.15%\u2013 0.75%<\/td> \n \n\nNo promotion available<\/td>Learn More<\/a><\/td><\/tr>
Steinbach Credit Union<\/strong><\/td>High Interest Savings Account<\/td>2% - 2.25%<\/span><\/td> \n \n\nNo promotion available<\/td>Learn More<\/a><\/td><\/tr>
Tangerine<\/strong><\/td>Savings Account<\/td>0.3%<\/td> \n \n\nOpen a Tangerine Savings Account to earn 4.50% for the first 5 months<\/b> (on up to $1,000,000 in deposits) when you sign up by November 30, 2026<\/b>. Thereafter, you'll earn 0.30%.<\/td>
Go to site<\/a><\/div><\/td><\/tr>
TD<\/strong><\/td>ePremium Savings Account<\/td>0.45% (on balances of $10,000 or more)<\/td> \n \n\nNo promotion available<\/td>
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Vancity<\/strong><\/td>Jumpstart High Interest Savings Account<\/td>0.6%<\/td> \n \n\nNo promotion available<\/td>Learn More<\/a><\/td><\/tr><\/tbody><\/table>
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\nDive deeper: <\/span>Compare our top picks for the best banks in Canada<\/a>\n<\/div>\n<\/article>

Big Five Bank savings account interest rates<\/h3>

Want to know how the Big Banks stack up against each other in terms of Canadian currency savings account interest rates? Check out the tables below.<\/p>

RBC savings account interest rates<\/h4>

RBC offers the following rates across its selection of savings accounts.<\/p>
RBC savings account<\/th>Standard interest rate<\/th>Promo rate<\/th><\/tr><\/thead>
High Interest eSavings<\/td>0.55%<\/td>4.6% <\/td><\/tr>
NOMI Find & Save<\/td>0.15%<\/td>N\/A<\/td><\/tr>
Day to Day Savings<\/td>0.005% - 0.010%<\/span><\/td>N\/A<\/td><\/tr><\/tbody><\/table>
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\nDive deeper: <\/span>Learn more about RBC savings account options<\/a>\n<\/div>\n<\/article>

Scotiabank savings account interest rates<\/h4>

Check the table below for a breakdown of Scotiabank\u2019s savings account interest rates.<\/p>
Scotiabank savings account<\/th>Standard interest rate<\/th>Promo rate<\/th><\/tr><\/thead>
Scotia High Interest Savings Account<\/td>
  • Less than $10,000: 0%<\/li>
  • $10,000 \u2013 $99,999: 0.75%<\/li>
  • $100,000 \u2013 $249,999: 1.75%<\/li>
  • $250,000 \u2013 $499,999: 2%<\/li>
  • $500,000 or more: 2.2%<\/li><\/ul><\/td>
Earn up to 5% for the first 3 months when you open your first Scotia High Interest Savings Account. T&Cs apply.<\/td><\/tr>
MomentumPLUS Savings Account<\/td>0.4%<\/td>N\/A<\/td><\/tr>
Savings Accelerator Account<\/td>0.1%\u20130.25%<\/td>N\/A<\/td><\/tr>
Money Master Savings Account<\/td>0.01%<\/td>N\/A<\/td><\/tr><\/tbody><\/table>
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\nDive deeper: <\/span>Learn more about Scotiabank savings account options<\/a>\n<\/div>\n<\/article>

BMO savings account interest rates<\/h4>

The current BMO savings account interest rates for its main savings accounts are shown below.<\/p>
BMO savings account<\/th>Standard interest rate<\/th>Promo rate<\/th><\/tr><\/thead>
Savings Amplifier Account<\/td>0.45%<\/td>5.00%<\/td><\/tr>
Savings Builder Account<\/td>0.25%<\/span><\/td>N\/A<\/td><\/tr>
Premium Rate Savings Account<\/td>0.01%<\/td>N\/A<\/td><\/tr><\/tbody><\/table>
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\nDive deeper: <\/span>Learn more about BMO savings account options<\/a>\n<\/div>\n<\/article>

TD savings account interest rates<\/h4>

Check current TD savings account interest rates below.<\/p>
TD savings account<\/th>Standard interest rate<\/th>Promo rate<\/th><\/tr><\/thead>
ePremium Savings Account<\/td>0.45% on balances of $10,000 or more, 0% on balances less than $10,000<\/td>N\/A<\/td><\/tr>
Growth Savings Account<\/td>0.5% \u2013 0.65%<\/td>N\/A<\/td><\/tr>
Every Day Savings Account<\/td>0.01%<\/td>N\/A<\/td><\/tr><\/tbody><\/table>
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\nDive deeper: <\/span>Learn more about TD savings account options<\/a>\n<\/div>\n<\/article>

CIBC savings account interest rates<\/h4>

Check the table below for the current CIBC savings account interest rates.<\/p>
CIBC savings account<\/th>Standard interest rate<\/th>Promo rate<\/th><\/tr><\/thead>
eAdvantage Savings Account<\/td>
  • $9,999.99 or less: 0.3%<\/li>
  • $10,000 \u2013 $24,999.99: 0.3%<\/li>
  • $25,000 \u2013 $99,999.99: 0.30%<\/li>
  • $100,000 \u2013 $499,999.99: 0.6%<\/li>
  • $500,000 and over: 0.6%<\/li><\/ul>

    Additional interest rate of 0.25% applies on balances up to $200,000 when you save at least $200 per month<\/p><\/td>

N\/A<\/td><\/tr><\/tbody><\/table>
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\nDive deeper: <\/span>Learn more about CIBC savings account options<\/a>\n<\/div>\n<\/article>

What is the average yearly savings rate for Canadians right now?<\/h3>

The average ongoing savings account interest rate in Canada right now is \n\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\n \n \n 0.93%