{"id":1046784,"date":"2024-10-30T14:18:34","date_gmt":"2024-10-30T18:18:34","guid":{"rendered":"https:\/\/www.finder.com\/ca\/?p=1046784"},"modified":"2026-06-10T04:55:33","modified_gmt":"2026-06-10T08:55:33","slug":"how-to-open-a-savings-account","status":"publish","type":"post","link":"https:\/\/www.finder.com\/ca\/savings-accounts\/how-to-open-a-savings-account","title":{"rendered":"How to open a savings account"},"content":{"rendered":"

Opening a savings account is easy in Canada. You can do it online, through a bank\u2019s mobile app or at a bank branch. So, whether you\u2019re setting up an account for everyday savings, aiming for higher interest or looking for tax benefits, follow these steps to make the process go smoothly. Here\u2019s a breakdown of the key steps involved in opening a savings account.<\/p>

Can you open a savings account online?<\/h3>

Yes, you can easily open a savings account online with most banks and credit unions in Canada. Many financial institutions have streamlined the process, allowing you to open an account from the comfort of your home without visiting a branch.<\/p>

All you need is access to a computer or smartphone and a stable internet connection. To begin, simply visit the bank\u2019s website, choose the type of savings account you want and fill out the online application form.<\/p>

You\u2019ll be asked to provide documentation like government-issued ID and proof of address. The entire process usually takes just a few minutes to complete.<\/p>

\n
\nRelated: <\/span>Open a bank account online in Canada in five easy steps<\/a>\n<\/div>\n<\/article>

Which banks let you open a savings account online?<\/h3>\n\n\n\n\n\n\n\n\n\n\n
Bank<\/th>\nSavings account<\/th>\nInterest rate<\/th>\n<\/th>\n<\/tr>\n<\/thead>\n
EQ Bank<\/strong><\/td>\nNotice Savings Account<\/td>\n2.35% - 2.75%<\/span><\/td>\n\n
Go to site<\/a><\/div>\n<\/td>\n<\/tr>\n\n
Simplii<\/strong><\/td>\nHigh-Interest Savings Account<\/td>\n4.6% for 5 months, 0.3% thereafter<\/td>\n\n
Go to site<\/a><\/div>\n<\/td>\n<\/tr>\n\n
KOHO Everything Plan<\/strong><\/td>\nHigh-Interest Savings Account<\/td>\n3.5%<\/td>\n\n
\r\n
\r\n \r\n Go to site\r\n <\/a>\r\n\r\n <\/div>\r\n <\/section><\/div>\n<\/td>\n<\/tr>\n\n
Scotiabank<\/strong><\/td>\nHigh Interest Savings Account<\/td>\n5.00% for 3 months, 0.75% thereafter<\/td>\n\n
\r\n
\r\n\t\t\t\t\t \r\n\t\t\t\t\t\tRead review\r\n <\/a><\/div>\r\n\t\t\t\t <\/section><\/div>\n<\/td>\n<\/tr>\n\n
Tangerine<\/strong><\/td>\nSavings Account<\/td>\n4.50% for 5 months, then 0.30% thereafter<\/td>\n\n
Go to site<\/a><\/div>\n<\/td>\n<\/tr>\n\n
Neo Financial<\/strong><\/td>\nSavings Account<\/td>\nup to 2.75%<\/td>\n\n<\/td>\n<\/tr>\n
\n\n
\n
\n Exclusive<\/span>\n
<\/div>\n
\n
\n

<\/p>

+ Get an $80 digital Visa Card<\/strong> when you open a Neo Savings Account<\/strong> online through Finder. Become a Finder Member in seconds for free to claim your reward. Offer ends July 31, 2026<\/strong>. T&Cs apply.<\/p>\n <\/div>\n

\n