{"id":1050243,"date":"2025-01-03T15:07:50","date_gmt":"2025-01-03T20:07:50","guid":{"rendered":"https:\/\/www.finder.com\/ca\/?p=1050243"},"modified":"2026-05-06T14:39:11","modified_gmt":"2026-05-06T18:39:11","slug":"daily-interest-savings-accounts","status":"publish","type":"post","link":"https:\/\/www.finder.com\/ca\/savings-accounts\/daily-interest-savings-accounts","title":{"rendered":"Daily interest savings accounts"},"content":{"rendered":"<p>A high interest rate is a must to help you grow your savings balance faster. But the rate isn&#8217;t the only factor that determines how much interest you earn on your account\u2014it also depends on how often interest is calculated.<\/p><p>In this guide, we&#8217;ll explore how daily interest savings accounts work and how to calculate the interest on your account.<\/p><h3>Summary: Daily interest savings accounts in Canada<\/h3><table class=\"luna-table luna-table--responsiveList\">\n<thead class=\"luna-table__header\">\n<tr>\n<th style=\"text-align: left; width: 30%;\" scope=\"col\">Savings account<\/th>\n<th style=\"text-align: left; width: 25%;\" scope=\"col\">Standard interest rate<\/th>\n<th style=\"text-align: left; width: 20%;\" scope=\"col\">Interest calculated<\/th>\n<th style=\"text-align: left; width: 25%;\" scope=\"col\"><\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"luna-table__body\">\n\n<tr>\n<td><strong>EQ Bank Personal Account<\/strong><\/td>\n<td>1%<\/td>\n<td>Daily<\/td>\n<td><section class=\"hero-rates__cta\">\r\n        <div class=\"applylinks CAFSA has-margin-top-small\">\r\n          <a\r\n            class=\"luna-button luna-button--success luna-button--cta has-margin-bottom-xsmall\"\r\n            rel=\"nofollow\"\r\n            href=\"https:\/\/www.finder.com\/redirect\/ca\/savings-accounts\/eqbank-personal-account-ca-savings-secure.html?nb=1&src_country=ca&redirect_tracking_params=%7B%22placement_type%22%3A%22nb-product%22%2C%22product_id%22%3A%228e951949-63cf-45fa-87c1-10b3c829d73a%22%2C%22product_name%22%3A%22EQ%2BBank%2BPersonal%2BAccount%22%2C%22offer_id%22%3A%2222475%22%2C%22decorator%22%3A%22GLOBAL.PRODUCT.HERO_BUTTON_DYNAMIC_CTA%22%2C%22niche_code%22%3A%22CAFSA%22%2C%22post_id%22%3A%221050243%22%2C%22post_path%22%3A%22savings-accounts%252Fdaily-interest-savings-accounts%22%2C%22post_country%22%3A%22ca%22%2C%22partial%22%3A%7B%22id%22%3A1077303%2C%22name%22%3A%22cafsa-html-table-daily-interest-savings-accounts%22%2C%22country%22%3A%22ca%22%7D%7D\"\r\n            target=\"_blank\">\r\n            Go to site\r\n          <\/a>\r\n\r\n        <\/div>\r\n      <\/section><\/td>\n<\/tr>\n\n<tr>\n<td><strong>Scotia High Interest Savings Account<\/strong><\/td>\n<td>0.75% - 2.2%<\/td>\n<td>Daily<\/td>\n<td><\/td>\n<\/tr>\n<tr><th style=\"border-top: none !important; padding-top: 0 !important; font-weight: normal !important;\" colspan=\"4\">\n\n<article class=\"luna-card--border luna-card--alt\">\n  <div class=\"luna-card__block\">\n    <span class=\"gx-badge__body hasPopover\" style=\"margin-right: 2rem\" rel=\"popover\" data-content='' data-html=\"true\" data-original-title=\"\" title=\"\" >Exclusive<\/span>\n    <div class=\"has-padding-xsmall\"><\/div>\n    <div class=\"u-grid u-grid--alignStretch\">\n      <div class=\"u-grid__col u-4\/5@s u-1\/1\">\n        <p style=\"font-size: 110%;\"><p style=\"font-size: 110%;\">+ Get an <strong>$80 digital Visa Card<\/strong> when you open a <strong>Scotia High Interest Savings Account<\/strong> online through Finder. Become a Finder Member in seconds for free to claim your reward. <strong>Offer ends June 30, 2026<\/strong>. T&Cs apply.<\/p><\/p>\n      <\/div>\n      <div class=\"u-grid__col u-1\/5@s u-1\/1\" style=\"display: flex; justify-content: center;\">\n        <div class=\"rewards--element-container rewards--container\" data-product-id=\"7b85006b-0d70-490f-890d-b1fcf03bbcd4\" data-niche=\"CAFSA\" data-product-name=\"Scotia High Interest Savings Account\" data-provider-name=\"Scotiabank\" data-rewards-campaign-name=\"scotiabank|hisa|may-2026~cafsa\"><script type=\"text\/javascript\">window.rewardsConfigs = window.rewardsConfigs || {};window.rewardsConfigs[\"scotiabank|hisa|may-2026~cafsa\"] = {\"startDate\":\"2026-05-04T08:00:00.000Z\",\"endDate\":\"2026-06-30T03:59:59.000Z\",\"showVisaLogo\":true,\"minimalUx\":true,\"countryCode\":\"CA\",\"isAlwaysOn\":false,\"validationDaysAfterEntry\":null,\"fulfillmentDaysAfterEntry\":null,\"bannerConfig\":{\"badgeText\":\"FINDER REWARDS EXCLUSIVE\",\"title\":\"Get $80 from Finder\",\"titleHighlight\":\"$80\",\"copyText\":\"Open a \\u003Cb\\u003EScotia High Interest Savings Account\\u003C\\\/b\\u003E online through Finder to get an \\u003Cb\\u003E$80 digital Visa card + up to 5.00% interest for 3 months\\u003C\\\/b\\u003E from Scotiabank on your savings. Offer ends June 30, 2026.\",\"termsText\":\"Separate T\\u0026Cs apply.\",\"ctaText\":\"GET DEAL\",\"iconUrl\":\"https:\\\/\\\/www.finder.com.au\\\/parent-theme\\\/members\\\/prod\\\/images\\\/rewards-icon.d44fdf8dde3fe4daca8c6a17d56489ca.svg\",\"nicheText\":\"\",\"mode\":\"modal\",\"metaData\":{\"productId\":\"7b85006b-0d70-490f-890d-b1fcf03bbcd4\"},\"logoUrl\":\"https:\\\/\\\/www.finder.com\\\/ca\\\/svg-image\\\/rewards-scotiabank-logo\",\"nicheCode\":\"CAFSA\",\"value\":\"80\",\"faqUrl\":\"https:\\\/\\\/www.finder.com\\\/ca\\\/savings-accounts\\\/scotiabank-high-interest-savings-account-80-gift-card-reward-may-2026\",\"validationDate\":\"2026-07-31T23:59:59.000Z\",\"fulfillmentDate\":\"2026-08-15T23:59:59.000Z\",\"termsAndConditionsUrl\":\"https:\\\/\\\/www.finder.com\\\/ca\\\/finder-rewards\\\/scotiabank-high-interest-savings-account-promotion-terms-and-conditions-may-2026\",\"isAlwaysOn\":false,\"validationDaysAfterEntry\":null,\"fulfillmentDaysAfterEntry\":null,\"referAFriendValue\":null},\"modalConfig\":{\"requireName\":true,\"title\":\"Get $80 from Finder\",\"subtitleText\":\"Your Visa card will be delivered here. Your details must match your new Scotiabank account\",\"items\":[{\"icon\":\"user\",\"text\":\"Create a Finder account for free in under 1 minute\"},{\"icon\":\"shopping-bag\",\"text\":\"Open a \\u003Cb\\u003EScotia High Interest Savings Account\\u003C\\\/b\\u003E online through Finder\"},{\"icon\":\"confetti\",\"text\":\"Receive your $80 digital Visa card from Finder on or before August 15, 2026\"}],\"heading\":\"Get $80 from Finder\",\"membersHeading\":\"Get $80 from Finder\",\"text\":\"\\u003Cb\\u003EHow it works\\u003C\\\/b\\u003E\\n* Create a Finder account for free in under 1 minute\\n* Open a \\u003Cb\\u003EScotia High Interest Savings Account\\u003C\\\/b\\u003E online through Finder\\n* Receive your $80 digital Visa card from Finder on or before August 15, 2026\",\"membersText\":\"\\u003Cb\\u003EHow it works\\u003C\\\/b\\u003E\\n* Open a \\u003Cb\\u003EScotia High Interest Savings Account\\u003C\\\/b\\u003E online through Finder\\n* Receive your $80 digital Visa card from Finder on or before August 15, 2026\",\"emailCaption\":\"Your Visa card will be delivered here. Your details must match your new Scotiabank account\",\"continueText\":\"GET $80 REWARD\",\"abortText\":\"SKIP REWARD, CONTINUE TO SCOTIABANK\",\"copyText\":\"Ends on June 30, 2026\",\"termsText\":\"T\\u0026Cs apply\",\"logoUrl\":\"https:\\\/\\\/www.finder.com\\\/ca\\\/svg-image\\\/rewards-scotiabank-logo\",\"nicheCode\":\"CAFSA\",\"value\":\"80\",\"faqUrl\":\"https:\\\/\\\/www.finder.com\\\/ca\\\/savings-accounts\\\/scotiabank-high-interest-savings-account-80-gift-card-reward-may-2026\",\"validationDate\":\"2026-07-31T23:59:59.000Z\",\"fulfillmentDate\":\"2026-08-15T23:59:59.000Z\",\"termsAndConditionsUrl\":\"https:\\\/\\\/www.finder.com\\\/ca\\\/finder-rewards\\\/scotiabank-high-interest-savings-account-promotion-terms-and-conditions-may-2026\",\"isAlwaysOn\":false,\"validationDaysAfterEntry\":null,\"fulfillmentDaysAfterEntry\":null,\"referAFriendValue\":null}};<\/script> <a target=\"_blank\" rel=\"sponsored\" href=\"https:\/\/www.finder.com\/redirect\/ca\/savings-accounts\/scotiabank-hisa-savings-account-ca-secure.html?nb=1&src_country=ca&redirect_tracking_params=%7B%22placement_type%22%3A%22product_link%22%2C%22title%22%3A%22Get%2Boffer%22%2C%22site%22%3A%22CAFSA%22%2C%22class%22%3A%22luna-button%2Bluna-button--success%22%2C%22offer_id%22%3A%2227158%22%2C%22niche_code%22%3A%22CAFSA%22%2C%22product_id%22%3A%227b85006b-0d70-490f-890d-b1fcf03bbcd4%22%2C%22product_name%22%3A%22Scotia%2BHigh%2BInterest%2BSavings%2BAccount%22%2C%22provider_id%22%3A%22666e4cf4-a72e-4e60-8325-5b7ee9bfaaa0%22%2C%22provider_name%22%3A%22Scotiabank%22%2C%22post_id%22%3A%221050243%22%2C%22post_path%22%3A%22savings-accounts%252Fdaily-interest-savings-accounts%22%2C%22post_country%22%3A%22ca%22%2C%22partial%22%3A%7B%22id%22%3A1072387%2C%22name%22%3A%22cafsa-html-table-reward-row%22%2C%22country%22%3A%22ca%22%7D%7D\" class=\"luna-button luna-button--success rewards--cta\">Get offer<\/a><\/div>\n      <\/div>\n    <\/div>\n  <\/div>\n<\/article><\/th><\/tr>\n\n<tr>\n<td><strong>Simplii High Interest Savings Account<\/strong><\/td>\n<td>0.3% - 1%<\/td>\n<td>Daily<\/td>\n<td><section class=\"hero-rates__cta\">\r\n        <div class=\"applylinks CAFSA has-margin-top-small\">\r\n          <a\r\n            class=\"luna-button luna-button--success luna-button--cta has-margin-bottom-xsmall\"\r\n            rel=\"nofollow\"\r\n            href=\"https:\/\/www.finder.com\/redirect\/ca\/savings-accounts\/simplii-high-interest-savings-account-ca-savings-secure.html?nb=1&src_country=ca&redirect_tracking_params=%7B%22placement_type%22%3A%22nb-product%22%2C%22product_id%22%3A%22784d7307-f7d0-47ba-8b65-f6db8d03436d%22%2C%22product_name%22%3A%22Simplii%2BHigh%2BInterest%2BSavings%2BAccount%22%2C%22offer_id%22%3A%2221491%22%2C%22decorator%22%3A%22GLOBAL.PRODUCT.HERO_BUTTON_DYNAMIC_CTA%22%2C%22niche_code%22%3A%22CAFSA%22%2C%22post_id%22%3A%221050243%22%2C%22post_path%22%3A%22savings-accounts%252Fdaily-interest-savings-accounts%22%2C%22post_country%22%3A%22ca%22%2C%22partial%22%3A%7B%22id%22%3A1077303%2C%22name%22%3A%22cafsa-html-table-daily-interest-savings-accounts%22%2C%22country%22%3A%22ca%22%7D%7D\"\r\n            target=\"_blank\">\r\n            Go to site\r\n          <\/a>\r\n\r\n        <\/div>\r\n      <\/section><\/td>\n<\/tr>\n\n<tr>\n<td><strong>EQ Bank Notice Savings Account<\/strong><\/td>\n<td>2.35% \u2013 2.75%<\/td>\n<td>Daily<\/td>\n<td><section class=\"hero-rates__cta\">\r\n        <div class=\"applylinks CAFSA has-margin-top-small\">\r\n          <a\r\n            class=\"luna-button luna-button--success luna-button--cta has-margin-bottom-xsmall\"\r\n            rel=\"nofollow\"\r\n            href=\"https:\/\/www.finder.com\/redirect\/ca\/savings-accounts\/eq-notice-savings-ca-secure.html?nb=1&src_country=ca&redirect_tracking_params=%7B%22placement_type%22%3A%22nb-product%22%2C%22product_id%22%3A%22552b8709-1977-4924-9e43-3242d02b273b%22%2C%22product_name%22%3A%22EQ%2BBank%2BNotice%2BSavings%2BAccount%22%2C%22offer_id%22%3A%2224994%22%2C%22decorator%22%3A%22GLOBAL.PRODUCT.HERO_BUTTON_DYNAMIC_CTA%22%2C%22niche_code%22%3A%22CAFSA%22%2C%22post_id%22%3A%221050243%22%2C%22post_path%22%3A%22savings-accounts%252Fdaily-interest-savings-accounts%22%2C%22post_country%22%3A%22ca%22%2C%22partial%22%3A%7B%22id%22%3A1077303%2C%22name%22%3A%22cafsa-html-table-daily-interest-savings-accounts%22%2C%22country%22%3A%22ca%22%7D%7D\"\r\n            target=\"_blank\">\r\n            Go to site\r\n          <\/a>\r\n\r\n        <\/div>\r\n      <\/section><\/td>\n<\/tr>\n\n<tr>\n<td><strong>Neo Savings Account<\/strong><\/td>\n<td>up to 3.00%<\/td>\n<td>Daily<\/td>\n<td><\/td>\n<\/tr>\n<tr><th style=\"border-top: none !important; padding-top: 0 !important; font-weight: normal !important;\" colspan=\"4\">\n\n<article class=\"luna-card--border luna-card--alt\">\n  <div class=\"luna-card__block\">\n    <span class=\"gx-badge__body hasPopover\" style=\"margin-right: 2rem\" rel=\"popover\" data-content='' data-html=\"true\" data-original-title=\"\" title=\"\" >Exclusive<\/span>\n    <div class=\"has-padding-xsmall\"><\/div>\n    <div class=\"u-grid u-grid--alignStretch\">\n      <div class=\"u-grid__col u-4\/5@s u-1\/1\">\n        <p style=\"font-size: 110%;\"><p style=\"font-size: 110%;\">+ Get an <strong>$80 digital Visa Card<\/strong> when you open a <strong>Neo Savings Account<\/strong> online through Finder. Become a Finder Member in seconds for free to claim your reward. <strong>Offer ends June 15, 2026<\/strong>. T&Cs apply.<\/p><\/p>\n      <\/div>\n      <div class=\"u-grid__col u-1\/5@s u-1\/1\" style=\"display: flex; justify-content: center;\">\n        <div class=\"rewards--element-container rewards--container\" data-product-id=\"0b4f0b20-d534-4e79-936c-6ffe0021ea2b\" data-niche=\"CAFSA\" data-product-name=\"Neo Savings Account\" data-provider-name=\"Neo Financial\" data-rewards-campaign-name=\"neo_savings_cafsa_april_2026\"><script type=\"text\/javascript\">window.rewardsConfigs = window.rewardsConfigs || {};window.rewardsConfigs[\"neo_savings_cafsa_april_2026\"] = {\"startDate\":\"2026-04-15T08:00:00.000Z\",\"endDate\":\"2026-06-16T04:59:59.000Z\",\"showVisaLogo\":true,\"minimalUx\":true,\"countryCode\":\"CA\",\"isAlwaysOn\":false,\"validationDaysAfterEntry\":null,\"fulfillmentDaysAfterEntry\":null,\"bannerConfig\":{\"badgeText\":\"FINDER REWARDS EXCLUSIVE\",\"title\":\"Get $80 from Finder\",\"titleHighlight\":\"$80\",\"copyText\":\"Become a Finder Member \\u0026 open a \\u003Cb\\u003ENeo Financial Savings Account\\u003C\\\/b\\u003E online through Finder to receive a \\u003Cb\\u003E$80 digital Visa card\\u003C\\\/b\\u003E. Offer ends June 15, 2026.\",\"termsText\":\"Separate T\\u0026Cs apply.\",\"ctaText\":\"GET DEAL\",\"iconUrl\":\"https:\\\/\\\/www.finder.com.au\\\/parent-theme\\\/members\\\/prod\\\/images\\\/rewards-icon.d44fdf8dde3fe4daca8c6a17d56489ca.svg\",\"nicheText\":\"\",\"mode\":\"modal\",\"metaData\":{\"productId\":\"0b4f0b20-d534-4e79-936c-6ffe0021ea2b\"},\"logoUrl\":\"https:\\\/\\\/www.finder.com\\\/ca\\\/svg-image\\\/rewards-logo-neo\",\"nicheCode\":\"CAFSA\",\"value\":\"80\",\"faqUrl\":\"https:\\\/\\\/www.finder.com\\\/ca\\\/savings-accounts\\\/neo-savings-account-80-gift-card-reward-april-2026\",\"validationDate\":\"2026-07-15T17:00:00.000Z\",\"fulfillmentDate\":\"2026-07-30T17:00:00.000Z\",\"termsAndConditionsUrl\":\"https:\\\/\\\/www.finder.com\\\/ca\\\/finder-rewards\\\/neo-savings-account-promotion-terms-and-conditions-april-2026\",\"isAlwaysOn\":false,\"validationDaysAfterEntry\":null,\"fulfillmentDaysAfterEntry\":null,\"referAFriendValue\":\"25\"},\"modalConfig\":{\"requireName\":true,\"title\":\"Get $80 from Finder\",\"subtitleText\":\"Your Visa card will be delivered here. Your details must match your new Neo Financial account\",\"items\":[{\"icon\":\"user\",\"text\":\"Become a Finder Member for free in under 1 minute\"},{\"icon\":\"shopping-bag\",\"text\":\"Open a Neo Financial Savings Account online through Finder\"},{\"icon\":\"confetti\",\"text\":\"Receive your $80 digital Visa card from Finder on or before July 30, 2026\"}],\"heading\":\"Get $80 from Finder\",\"membersHeading\":\"Get $80 from Finder\",\"text\":\"\\u003Cb\\u003EHow it works\\u003C\\\/b\\u003E\\n* Become a Finder Member for free in under 1 minute\\n* Open a \\u003Cb\\u003ENeo Financial Savings Account\\u003C\\\/b\\u003E online through Finder\\n* Receive your $80 digital Visa card from Finder on or before July 30, 2026\",\"membersText\":\"\\u003Cb\\u003EHow it works\\u003C\\\/b\\u003E\\n* Open a \\u003Cb\\u003ENeo Financial Savings Account\\u003C\\\/b\\u003E online through Finder\\n* Receive your $80 digital Visa card from Finder on or before July 30, 2026\",\"emailCaption\":\"Your Visa card will be delivered here. Your details must match your new Neo Financial account\",\"continueText\":\"GET $80 REWARD\",\"abortText\":\"SKIP REWARD, CONTINUE TO NEO FINANCIAL\",\"copyText\":\"Ends on June 15, 2026\",\"termsText\":\"T\\u0026Cs apply\",\"logoUrl\":\"https:\\\/\\\/www.finder.com\\\/ca\\\/svg-image\\\/rewards-logo-neo\",\"nicheCode\":\"CAFSA\",\"value\":\"80\",\"faqUrl\":\"https:\\\/\\\/www.finder.com\\\/ca\\\/savings-accounts\\\/neo-savings-account-80-gift-card-reward-april-2026\",\"validationDate\":\"2026-07-15T17:00:00.000Z\",\"fulfillmentDate\":\"2026-07-30T17:00:00.000Z\",\"termsAndConditionsUrl\":\"https:\\\/\\\/www.finder.com\\\/ca\\\/finder-rewards\\\/neo-savings-account-promotion-terms-and-conditions-april-2026\",\"isAlwaysOn\":false,\"validationDaysAfterEntry\":null,\"fulfillmentDaysAfterEntry\":null,\"referAFriendValue\":\"25\"}};<\/script> <a target=\"_blank\" rel=\"sponsored\" href=\"https:\/\/www.finder.com\/redirect\/ca\/savings-accounts\/neo-savings-account-ca-secure.html?nb=1&src_country=ca&redirect_tracking_params=%7B%22placement_type%22%3A%22product_link%22%2C%22title%22%3A%22Get%2Boffer%22%2C%22site%22%3A%22CAFSA%22%2C%22class%22%3A%22luna-button%2Bluna-button--success%22%2C%22offer_id%22%3A%2227131%22%2C%22niche_code%22%3A%22CAFSA%22%2C%22product_id%22%3A%220b4f0b20-d534-4e79-936c-6ffe0021ea2b%22%2C%22product_name%22%3A%22Neo%2BSavings%2BAccount%22%2C%22provider_id%22%3A%22527000d2-f183-4ae1-848a-6dd199a98cae%22%2C%22provider_name%22%3A%22Neo%2BFinancial%22%2C%22post_id%22%3A%221050243%22%2C%22post_path%22%3A%22savings-accounts%252Fdaily-interest-savings-accounts%22%2C%22post_country%22%3A%22ca%22%2C%22partial%22%3A%7B%22id%22%3A1072387%2C%22name%22%3A%22cafsa-html-table-reward-row%22%2C%22country%22%3A%22ca%22%7D%7D\" class=\"luna-button luna-button--success rewards--cta\">Get offer<\/a><\/div>\n      <\/div>\n    <\/div>\n  <\/div>\n<\/article><\/th><\/tr>\n\n<tr>\n<td><strong>KOHO Everything Plan<\/strong><\/td>\n<td>3.5%<\/td>\n<td>Daily<\/td>\n<td><\/td>\n<\/tr>\n<tr><th style=\"border-top: none !important; padding-top: 0 !important; font-weight: normal !important;\" colspan=\"4\">\n\n<article class=\"luna-card--border luna-card--alt\">\n  <div class=\"luna-card__block\">\n    <span class=\"gx-badge__body hasPopover\" style=\"margin-right: 2rem\" rel=\"popover\" data-content='' data-html=\"true\" data-original-title=\"\" title=\"\" >Exclusive<\/span>\n    <div class=\"has-padding-xsmall\"><\/div>\n    <div class=\"u-grid u-grid--alignStretch\">\n      <div class=\"u-grid__col u-4\/5@s u-1\/1\">\n        <p style=\"font-size: 110%;\"><p style=\"font-size: 110%;\">+ Get a <strong>$75 digital Visa Card<\/strong> when you open and fund the <strong>KOHO Everything Plan<\/strong> online through Finder. Become a Finder Member in seconds for free to claim your reward. <strong>Offer ends June 30, 2026<\/strong>. T&Cs apply.<\/p><\/p>\n      <\/div>\n      <div class=\"u-grid__col u-1\/5@s u-1\/1\" style=\"display: flex; justify-content: center;\">\n        <div class=\"rewards--element-container rewards--container\" data-product-id=\"bda4c8f7-5608-4c54-8eb0-27ec10413c06\" data-niche=\"CAFSA\" data-product-name=\"KOHO Everything Plan\" data-provider-name=\"KOHO\" data-rewards-campaign-name=\"koho|everything|may-2026~cafsa\"><script type=\"text\/javascript\">window.rewardsConfigs = window.rewardsConfigs || {};window.rewardsConfigs[\"koho|everything|may-2026~cafsa\"] = {\"startDate\":\"2026-05-01T08:00:00.000Z\",\"endDate\":\"2026-07-01T03:59:59.000Z\",\"showVisaLogo\":true,\"minimalUx\":true,\"countryCode\":\"CA\",\"isAlwaysOn\":false,\"validationDaysAfterEntry\":null,\"fulfillmentDaysAfterEntry\":null,\"bannerConfig\":{\"badgeText\":\"FINDER REWARDS EXCLUSIVE\",\"title\":\"Get $75 from Finder\",\"titleHighlight\":\"$75\",\"copyText\":\"Become a Finder Member \\u0026 open and fund the \\u003Cb\\u003EKOHO Everything Plan\\u003C\\\/b\\u003E through Finder to receive a \\u003Cb\\u003E$75 digital Visa card\\u003C\\\/b\\u003E. Offer ends June 30, 2026.\",\"termsText\":\"Separate T\\u0026Cs apply.\",\"ctaText\":\"GET DEAL\",\"iconUrl\":\"https:\\\/\\\/www.finder.com.au\\\/parent-theme\\\/members\\\/prod\\\/images\\\/rewards-icon.d44fdf8dde3fe4daca8c6a17d56489ca.svg\",\"nicheText\":\"\",\"mode\":\"modal\",\"metaData\":{\"productId\":\"bda4c8f7-5608-4c54-8eb0-27ec10413c06\"},\"logoUrl\":\"https:\\\/\\\/www.finder.com\\\/ca\\\/svg-image\\\/rewards-logo-koho\",\"nicheCode\":\"CAFSA\",\"value\":\"75\",\"faqUrl\":\"https:\\\/\\\/www.finder.com\\\/ca\\\/cash-advance-apps\\\/koho-may-2026-promotion\",\"validationDate\":\"2026-07-31T17:00:00.000Z\",\"fulfillmentDate\":\"2026-08-15T17:00:00.000Z\",\"termsAndConditionsUrl\":\"https:\\\/\\\/www.finder.com\\\/ca\\\/finder-rewards\\\/finder-koho-promotion-terms-and-conditions-may-2026\",\"isAlwaysOn\":false,\"validationDaysAfterEntry\":null,\"fulfillmentDaysAfterEntry\":null,\"referAFriendValue\":\"25\"},\"modalConfig\":{\"requireName\":true,\"title\":\"Get $75 from Finder\",\"subtitleText\":\"Your Visa card will be delivered here. 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Your details must match your new KOHO account\",\"continueText\":\"GET $75 REWARD\",\"abortText\":\"SKIP REWARD, CONTINUE TO KOHO\",\"copyText\":\"Ends on June 30, 2026\",\"termsText\":\"T\\u0026Cs apply\",\"logoUrl\":\"https:\\\/\\\/www.finder.com\\\/ca\\\/svg-image\\\/rewards-logo-koho\",\"nicheCode\":\"CAFSA\",\"value\":\"75\",\"faqUrl\":\"https:\\\/\\\/www.finder.com\\\/ca\\\/cash-advance-apps\\\/koho-may-2026-promotion\",\"validationDate\":\"2026-07-31T17:00:00.000Z\",\"fulfillmentDate\":\"2026-08-15T17:00:00.000Z\",\"termsAndConditionsUrl\":\"https:\\\/\\\/www.finder.com\\\/ca\\\/finder-rewards\\\/finder-koho-promotion-terms-and-conditions-may-2026\",\"isAlwaysOn\":false,\"validationDaysAfterEntry\":null,\"fulfillmentDaysAfterEntry\":null,\"referAFriendValue\":\"25\"}};<\/script> <a target=\"_blank\" rel=\"sponsored\" href=\"https:\/\/www.finder.com\/redirect\/ca\/savings-accounts\/koho-everything-plan-ca-savings-account-secure.html?nb=1&src_country=ca&redirect_tracking_params=%7B%22placement_type%22%3A%22product_link%22%2C%22title%22%3A%22Get%2Boffer%22%2C%22site%22%3A%22CAFSA%22%2C%22class%22%3A%22luna-button%2Bluna-button--success%22%2C%22offer_id%22%3A%2227061%22%2C%22niche_code%22%3A%22CAFSA%22%2C%22product_id%22%3A%22bda4c8f7-5608-4c54-8eb0-27ec10413c06%22%2C%22product_name%22%3A%22KOHO%2BEverything%2BPlan%22%2C%22provider_id%22%3A%22cc53d1c3-c4ec-461a-bce0-4235a11de0a2%22%2C%22provider_name%22%3A%22KOHO%22%2C%22post_id%22%3A%221050243%22%2C%22post_path%22%3A%22savings-accounts%252Fdaily-interest-savings-accounts%22%2C%22post_country%22%3A%22ca%22%2C%22partial%22%3A%7B%22id%22%3A1072387%2C%22name%22%3A%22cafsa-html-table-reward-row%22%2C%22country%22%3A%22ca%22%7D%7D\" class=\"luna-button luna-button--success rewards--cta\">Get offer<\/a><\/div>\n      <\/div>\n    <\/div>\n  <\/div>\n<\/article><\/th><\/tr>\n\n<tr>\n<td><strong>Tangerine Savings Account<\/strong><\/td>\n<td>0.3%<\/td>\n<td>Daily<\/td>\n<td><section class=\"hero-rates__cta\">\r\n        <div class=\"applylinks CAFSA has-margin-top-small\">\r\n          <a\r\n            class=\"luna-button luna-button--success luna-button--cta has-margin-bottom-xsmall\"\r\n            rel=\"nofollow\"\r\n            href=\"https:\/\/www.finder.com\/redirect\/ca\/savings-accounts\/tangerine-savings-account-ca-secure.html?nb=1&src_country=ca&redirect_tracking_params=%7B%22placement_type%22%3A%22nb-product%22%2C%22product_id%22%3A%22b018d030-a7af-47a6-ae85-84ed4c42f7cb%22%2C%22product_name%22%3A%22Tangerine%2BSavings%2BAccount%22%2C%22offer_id%22%3A%2226269%22%2C%22decorator%22%3A%22GLOBAL.PRODUCT.HERO_BUTTON_DYNAMIC_CTA%22%2C%22niche_code%22%3A%22CAFSA%22%2C%22post_id%22%3A%221050243%22%2C%22post_path%22%3A%22savings-accounts%252Fdaily-interest-savings-accounts%22%2C%22post_country%22%3A%22ca%22%2C%22partial%22%3A%7B%22id%22%3A1077303%2C%22name%22%3A%22cafsa-html-table-daily-interest-savings-accounts%22%2C%22country%22%3A%22ca%22%7D%7D\"\r\n            target=\"_blank\">\r\n            Go to site\r\n          <\/a>\r\n\r\n        <\/div>\r\n      <\/section><\/td>\n<\/tr>\n\n<tr>\n<td><strong>Wealthsimple Chequing Account<\/strong><\/td>\n<td>1.25% - 2.25%<\/td>\n<td>Daily<\/td>\n<td><section class=\"hero-rates__cta\">\r\n        <div class=\"applylinks CAFSA has-margin-top-small\">\r\n          <a\r\n            class=\"luna-button luna-button--success luna-button--cta has-margin-bottom-xsmall\"\r\n            rel=\"nofollow\"\r\n            href=\"https:\/\/www.finder.com\/redirect\/ca\/savings-accounts\/wealthsimple-cash-ca-savings-account-secure.html?nb=1&src_country=ca&redirect_tracking_params=%7B%22placement_type%22%3A%22nb-product%22%2C%22product_id%22%3A%22964cf5d4-6d6e-4786-8369-d6552cfc7ceb%22%2C%22product_name%22%3A%22Wealthsimple%2BChequing%2BAccount%22%2C%22offer_id%22%3A%2227030%22%2C%22decorator%22%3A%22GLOBAL.PRODUCT.HERO_BUTTON_DYNAMIC_CTA%22%2C%22niche_code%22%3A%22CAFSA%22%2C%22post_id%22%3A%221050243%22%2C%22post_path%22%3A%22savings-accounts%252Fdaily-interest-savings-accounts%22%2C%22post_country%22%3A%22ca%22%2C%22partial%22%3A%7B%22id%22%3A1077303%2C%22name%22%3A%22cafsa-html-table-daily-interest-savings-accounts%22%2C%22country%22%3A%22ca%22%7D%7D\"\r\n            target=\"_blank\">\r\n            Go to site\r\n          <\/a>\r\n\r\n        <\/div>\r\n      <\/section><\/td>\n<\/tr>\n\n<tr>\n<td><strong>Laurentian Bank High Interest Savings Account<\/strong><\/td>\n<td>2.2% - 3.2%<\/td>\n<td>Daily<\/td>\n<td><section class=\"hero-rates__cta\">\r\n                            <div class=\"has-margin-top-small\">\r\n\t\t\t\t\t  <a href=\"https:\/\/www.finder.com\/ca\/savings-accounts\/laurentian-bank-high-interest-savings-account-review\" rel=\"nofollow\" class=\"luna-button luna-button--primary luna-button--ghost luna-button--cta has-margin-bottom-xsmall\">\r\n\t\t\t\t\t\tRead review\r\n                              <\/a><\/div>\r\n\t\t\t\t  <\/section><\/td>\n<\/tr>\n\n<tr>\n<td><strong>TD Growth Savings Account<\/strong><\/td>\n<td>0.5% (balances of $5,000 and over)<\/td>\n<td>Daily<\/td>\n<td><section class=\"hero-rates__cta\">\r\n                            <div class=\"has-margin-top-small\">\r\n\t\t\t\t\t  <a href=\"https:\/\/www.finder.com\/ca\/savings-accounts\/td-savings\/td-high-interest-savings-account-review\" rel=\"nofollow\" class=\"luna-button luna-button--primary luna-button--ghost luna-button--cta has-margin-bottom-xsmall\">\r\n\t\t\t\t\t\tRead review\r\n                              <\/a><\/div>\r\n\t\t\t\t  <\/section><\/td>\n<\/tr>\n\n\n<tr>\n<td><strong>CIBC eAdvantage Savings Account<\/strong><\/td>\n<td>0.3% - 0.6%<\/td>\n<td>Daily<\/td>\n<td><section class=\"hero-rates__cta\">\r\n                            <div class=\"has-margin-top-small\">\r\n\t\t\t\t\t  <a href=\"https:\/\/www.finder.com\/ca\/savings-accounts\/cibc-savings\/cibc-eadvantage-savings-account-review\" rel=\"nofollow\" class=\"luna-button luna-button--primary luna-button--ghost luna-button--cta has-margin-bottom-xsmall\">\r\n\t\t\t\t\t\tRead review\r\n                              <\/a><\/div>\r\n\t\t\t\t  <\/section><\/td>\n<\/tr>\n\n<tr>\n<td><strong>RBC High Interest eSavings Account<\/strong><\/td>\n<td>0.55%<\/td>\n<td>Daily<\/td>\n<td><section class=\"hero-rates__cta\">\r\n                            <div class=\"has-margin-top-small\">\r\n\t\t\t\t\t  <a href=\"https:\/\/www.finder.com\/ca\/savings-accounts\/rbc-savings\/rbc-high-interest-esavings-account-review\" rel=\"nofollow\" class=\"luna-button luna-button--primary luna-button--ghost luna-button--cta has-margin-bottom-xsmall\">\r\n\t\t\t\t\t\tRead review\r\n                              <\/a><\/div>\r\n\t\t\t\t  <\/section><\/td>\n<\/tr>\n\n<tr>\n<td><strong>BMO Savings Amplifier Account<\/strong><\/td>\n<td>0.5%<\/td>\n<td>Daily<\/td>\n<td><section class=\"hero-rates__cta\">\r\n                            <div class=\"has-margin-top-small\">\r\n\t\t\t\t\t  <a href=\"https:\/\/www.finder.com\/ca\/savings-accounts\/bmo-savings\/bmo-savings-amplifier-account-review\" rel=\"nofollow\" class=\"luna-button luna-button--primary luna-button--ghost luna-button--cta has-margin-bottom-xsmall\">\r\n\t\t\t\t\t\tRead review\r\n                              <\/a><\/div>\r\n\t\t\t\t  <\/section><\/td>\n<\/tr>\n\n<tr>\n<td><strong>PC Financial PC Money Account<\/strong><\/td>\n<td>2.2%<\/td>\n<td>Daily<\/td>\n<td><section class=\"hero-rates__cta\">\r\n                            <div class=\"has-margin-top-small\">\r\n\t\t\t\t\t  <a href=\"https:\/\/www.finder.com\/ca\/banking\/pc-money-account-review\" rel=\"nofollow\" class=\"luna-button luna-button--primary luna-button--ghost luna-button--cta has-margin-bottom-xsmall\">\r\n\t\t\t\t\t\tRead review\r\n                              <\/a><\/div>\r\n\t\t\t\t  <\/section><\/td>\n<\/tr>\n\n\n<\/tbody>\n<\/table><h3>What is a daily interest savings account?<\/h3><p>A daily interest savings account is a bank account in which your interest earnings are calculated daily. On most high interest savings accounts, interest is calculated daily and paid monthly.<\/p><p>At the end of each day, the interest you earned is calculated based on your closing balance. This daily interest is then added to your account at the end of the month, allowing you to take advantage of the power of compound interest and build a bigger savings balance faster.<\/p><h3>How to calculate daily interest<\/h3><p>Follow these steps to calculate daily interest:<\/p><ol><li>Divide your savings account interest rate by 100 to convert it a decimal by (e.g., 3% becomes 0.03).<\/li><li>Multiply your daily closing balance by the decimal.<\/li><li>Divide it by the number of days in the year (usually 365).<\/li><\/ol><p>To give you an example, let&#8217;s say you have $5,000 in a Neo Savings Account, which has an interest rate of 3%. You can calculate daily interest with the following formula:<\/p><ul><li>Daily interest = (5,000 x 0.03) \u00f7 365<\/li><\/ul><p>This gives you a daily interest amount of $0.41. At the end of the month, the interest you earn each day is added up and deposited into your account.<\/p><h4>How to calculate daily compound interest<\/h4><p>The formula for calculating daily compound interest is A = P(1 + R\u00f7N)NT<\/p><p>In this formula:<\/p><ul><li>A is your future account balance<\/li><li>P is your initial account balance<\/li><li>R is the annual interest rate (expressed as a decimal)<\/li><li>N is the number of times that interest is compounded annually<\/li><li>T is the number of years money is held in your savings account<\/li><\/ul><p>As an example, let&#8217;s say you deposit $1,000 for one year in an account paying 3% interest.<\/p><ul><li>P is 1,000<\/li><li>R is 0.03<\/li><li>N is 365<\/li><li>T is 1<\/li><li>A = 1,000(1 + 0.03\u00f7365)365 x 1<\/li><\/ul><p>So A = $1,030.45.<\/p><h3>How to calculate monthly interest<\/h3><p>You can calculate the monthly interest rate on your savings account by completing the following steps.<\/p><ol><li>Divide your savings account interest rate by 100 to convert it a decimal by (e.g., 3% becomes 0.03).<\/li><li>Divide the interest rate by 12 to calculate the monthly interest rate (0.03\u00f712 = 0.0025).<\/li><li>Multiply the monthly interest rate by your account balance to calculate the monthly interest you will earn (if your balance is $1,000, then 0.0025 x 1,000 = $2.50).<\/li><\/ol><p>If you want to see your monthly interest rate expressed as a percentage, take the decimal figure (0.0025) and multiply it by 100. This means your monthly interest rate is 0.25%.<\/p><h3>Monthly vs. daily interest savings accounts: Which is better?<\/h3><p>If you&#8217;re comparing <a href=\"https:\/\/www.finder.com\/ca\/savings-accounts\">savings accounts<\/a> and deciding where to deposit your hard-earned money, you may be wondering whether a monthly or daily interest savings account is a better choice.<\/p><p>The answer is that daily interest savings accounts are a better option than monthly interest savings accounts. That&#8217;s because the more often interest is calculated on your account, the faster your balance will increase. The difference may not seem all that substantial, but it will add up over time.<article class=\"luna-card luna-card--primary luna-card--border\">\n  <div class=\"luna-card__block\" style=\"padding:0.7em\">\n<span style=\"font-size:0.9em; font-weight: 800; font-style: italic; text-transform: uppercase;\">Dive deeper: <\/span><a href=\"https:\/\/www.finder.com\/ca\/savings-accounts\/best-high-interest-savings-accounts\" style=\"text-decoration:underline; font-size:0.9em;\">Our picks for the best savings accounts in Canada<\/a>\n<\/div>\n<\/article><h3>What is the highest daily interest savings account?<\/h3><p>There are several competitive options worth comparing if you&#8217;re searching for the best daily interest savings account in Canada. KOHO pays between 2% and <b>3.50%<\/b><span class=\"table-popover\" rel=\"popover\" data-content=\"Opt-in to earn up to 3.50% interest. Interest calculated: daily. Interest paid: monthly.\" title=\"\" data-original-title=\"More info\"<\/span> interest, depending on the plan you select. There are three plans to choose from. The entry-level Essential plan pays <b>2%<\/b><span class=\"table-popover\" rel=\"popover\" data-content=\"Opt-in to earn up to 2% interest. Interest calculated: daily. Interest paid: monthly.\" title=\"\" data-original-title=\"More info\"<\/span> and charges a $4 monthly fee.<\/p><p>PC Financial&#8217;s PC Money Account is another popular option, paying 2.2% interest and also rewarding you for your spending with PC Optimum points. Then there&#8217;s the EQ Bank Notice Savings Account, which pays 2.35% or 2.75% interest if you provide 10 or 30 days&#8217; notice before making a withdrawal.<\/p><p>That said, you might be able to find a higher interest rate elsewhere. But these rates may only apply for a limited introductory period, such as 3 or 5 months, or you may need a large account balance to qualify for the highest possible rate.<\/p><p>Find out more in our guide to <a href=\"https:\/\/www.finder.com\/ca\/savings-accounts\/savings-account-interest-rates\">savings account interest rates<\/a>.<\/p><h3>Bottom line<\/h3><p>The frequency with which interest is calculated on your account has an important impact on how quickly your savings grows. With a daily interest savings account, interest is calculated at the end of each day and typically added to your account at the end of the month. Compare savings account interest rates to find the best place to deposit your money.<\/p><h3>FAQs about daily interest savings accounts<\/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-0000000000\" data-toggle=\"collapse\" data-target=\"#faq-builder-0000000000\">\n                <span class=\"luna-accordion__title\">Do savings accounts pay interest daily?<\/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-0000000000\" data-accordion=\"details\">\n        <div class=\"accordionContent\">\n            <div>\n                <p>Most savings accounts calculate interest daily on your closing balance. The interest you accrue is then paid into your account at the end of each month.<\/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-0000000001\" data-toggle=\"collapse\" data-target=\"#faq-builder-0000000001\">\n                <span class=\"luna-accordion__title\">Does Scotiabank offer a daily interest 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>Yes, interest on the Scotiabank MomentumPLUS Savings Account and the Scotia High Interest Savings Account is calculated daily and paid monthly. The Scotiabank MomentumPLUS Savings Account comes with a regular interest rate of 0.4% with the option to earn more, while the Scotia High Interest Savings Account offers a bonus rate of 5.00% for 3 months, and between 0.75% and 2.2% ongoing.<\/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\">Does RBC offer a daily interest 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>Yes, interest on an RBC High Interest eSavings Account is calculated on your daily closing balance and paid monthly. This account has an ongoing interest rate of 0.55%, but .<\/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\">Does CIBC offer a daily interest 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-0000000003\" data-accordion=\"details\">\n        <div class=\"accordionContent\">\n            <div>\n                <p>Yes. With a CIBC eAdvantage Savings Account, interest is calculated daily based on your closing balance and paid out on the last business day of the month. This account pays between 0.3% and 0.6% interest, depending on your account balance. Plus, .<\/p>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/li>\n\n<\/ul>\n<div id=\"sources\" style=\"position: relative;\"><h3 style=\"position: absolute; width: 1px; height: 1px; padding: 0; margin: -1px; overflow: hidden; clip: rect(0,0,0,0); white-space: nowrap; border: 0;\">Sources<\/h3>\n<div id=\"lazy0000000004\"><\/div>\n<script type=\"application\/json\" id=\"lazyloaded-assets-json-lazy0000000004\" class=\"lazyloaded-assets-json\">{\"critical-scripts\":[],\"scripts\":[\"https:\\\/\\\/www.finder.com\\\/parent-theme\\\/shortcodes\\\/article-source\\\/prod\\\/article-source.de087a0da9824e407767.js\"],\"styles\":[\"https:\\\/\\\/www.finder.com\\\/parent-theme\\\/shortcodes\\\/article-source\\\/prod\\\/article-source.87684078d471e76125dd.css\"]}<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Learn how daily interest savings accounts work and where to find the best 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