Financial Consumer Agency of Canada
www.fcac-acfc.gc.ca
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Savings Accounts - Interactive Tool
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Compare your options
These accounts may fit your needs. Click on the tabs to learn more about these accounts. The interest rates highlighted in yellow match the minimum balance you selected in step 2.
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| Institution Account name 
|
Interest1 | Notes | |
|---|---|---|---|
| Interest rate — Account balance
|
Interest calculation2
|
||
| Canadian Tire Bank3 High Interest Savings Account |
1.50% — $0.00 and up
|
C1
|
To open an account, the consumer must have a current chequing account with a financial institution. |
| ICICI Bank Canada HiSave Savings Account |
1.40% — $0.00 and up
|
C1
|
— |
| ING Bank of Canada Investment Savings Account |
1.20% — $0.00 and up
|
C1
|
To open an account, the consumer must have a current chequing account with a financial institution. Time required for transfers: one to two business days and five to seven business days for cheques. |
| HSBC Bank Canada4 Direct Savings |
1.00% — $0.00 to $1,000,000.00
0.00% — $1,000,000.01 and up |
C2
|
— |
| ICICI Bank Canada Premium Savings Account |
1.00% — $0.00 and up
|
C1
|
— |
| Dundee Bank of Canada Dundee Investment Savings Account |
0.80% — $0.00 and up
|
C1
|
Interest calculated on the daily opening balance. Account available through financial advisors on the FundServ network. |
| Manulife Bank Manulife Bank Investment Savings Account |
0.80% — $0.00 and up
|
C1
|
— |
| HSBC Bank Canada4 High Rate Savings |
1.00% — $100,000.00 to $1,000,000.00
0.90% — $50,000.00 to $99,999.99 0.75% — $0.00 to $49,999.99 0.00% — $1,000,000.01 and up |
C1/C2
|
Interest calculated with C1 method on balance up to $1,000,000, and with C2 method above that. |
| RBC Royal Bank RBC High Interest eSavings |
0.75% — $0.00 and up
|
C1
|
— |
| PC Financial5 Interest First Savings Account |
0.65% — $0.00 and up
|
C1
|
— |
| PC Financial5 Interest Plus Savings Account |
0.75% — $1,000.01 and up
0.50% — $0.00 to $1,000.00 |
C1
|
Anniversary bonus interest from 0.03% to 0.25%, depending of the annual balance and time the account has been open. |
| National Bank Special Project Savings Account |
0.40% — $0.00 and up
|
C1
|
Minimum deposit: $10 per month with automatic transfer. Transfers can be done from more than one National Bank account. |
| BMO Bank of Montreal Premium Rate Savings Account |
0.25% — $60,000.00 and up
0.25% — $0.00 to $59,999.99 |
C2
|
Possible to add this account to an Everyday Banking Plan, as part of the fixed monthly fee. |
| CIBC CIBC Premium Growth Account |
0.25% — $60,000.00 and up
0.20% — $25,000.00 to $59,999.99 0.15% — $10,000.00 to $24,999.99 0.15% — $0.00 to $9,999.99 |
C1/C2
|
Interest calculated with C1 method on balance up to $59,999.99, and with C2 method above that. |
| Scotiabank Money Master Savings Account |
0.25% — $5,000.00 and up
0.15% — $0.00 to $4,999.99 |
C1
|
— |
| Alterna Savings/Alterna Bank6 Daily Interest Savings |
0.25% — $25,000.01 and up
0.20% — $10,000.01 to $25,000.00 0.15% — $5,000.01 to $10,000.00 0.10% — $0.00 to $5,000.00 |
C2
|
— |
| CIBC CIBC Bonus Savings Account |
0.75% — $5,000.00 and up
0.10% — $0.00 to $4,999.99 |
C1
|
— |
| Alterna Savings/Alterna Bank6 Tiered Interest Savings |
0.10% — $25,000.01 and up
0.10% — $10,000.01 to $25,000.00 0.10% — $5,000.01 to $10,000.00 0.05% — $0.00 to $5,000.00 |
C2
|
— |
| Citibank Citibank Savings Account |
0.75% — $5,000.00 and up
0.10% — $2,500.00 to $4,999.99 0.05% — $0.00 to $2,499.99 |
C1
|
— |
| HSBC Bank Canada4 Regular Savings |
0.05% — $0.00 and up
|
C1
|
— |
| Scotiabank Scotia Daily Interest Savings Account |
0.05% — $0.00 and up
|
C1
|
— |
| TD Canada Trust Companion Savings Account |
0.25% — $5,000.00 and up
0.05% — $0.00 to $4,999.99 |
C2
|
Transaction fees waived for balance over $25,000. |
| TD Canada Trust Tier Savings Account |
0.25% — $60,000.00 and up
0.25% — $10,000.00 to $59,999.99 0.25% — $5,000.00 to $9,999.99 0.05% — $0.00 to $4,999.99 |
C1/C2
|
Transaction fees waived for balance over $25,000. Interest calculated with C1 method on balance up to $59,999.99, and with C2 method above that. |
| National Bank The Strategist or Natcan Strategist Account7 |
0.50% — $100,000.00 and up
0.40% — $60,000.00 to $99,999.99 0.20% — $25,000.00 to $59,999.99 0.15% — $5,000.00 to $24,999.99 0.02% — $0.00 to $4,999.99 |
C1/C2
|
Interest rates can vary depending on the region. Transaction fees waived for balance over $25,000. Interest calculated with C1 method on balance up to $59,999.99, and with C2 method above that. |
| RBC Royal Bank RBC Day to Day Savings |
0.10% — $5,000.00 and up
0.05% — $3,000.00 to $4,999.99 0.02% — $0.00 to $2,999.99 |
C2
|
— |
| BMO Bank of Montreal Interest Chequing Account |
0.01% — $0.00 and up
|
C1/C2
|
Possible to add this account to an Everyday Banking Plan, as part of the fixed monthly fee. Interest calculated with C1 method on balance up to $24,999.99, and with C2 method above that. |
| Scotiabank Scotia Gain Plan Investment Savings Account |
0.10% — $75,000.00 and up
0.10% — $60,000.00 to $74,999.99 0.05% — $25,000.00 to $59,999.99 0.05% — $10,000.00 to $24,999.99 0.03% — $5,000.00 to $9,999.99 0.01% — $0.00 to $4,999.99 |
C1/C2
|
Interest calculated with C1 method on balance up to $59,999.99, and with C2 method above that. |
| BMO Bank of Montreal Smart Saver Account |
0.80% — $5,000.00 and up
0.00% — $0.00 to $4,999.99 |
C1
|
— |
| Canadian Western Bank8 Summit Savings Account |
1.05% — $5,000.00 to $999,999.99
0.80% — $1,000,000.00 and up 0.00% — $0.00 to $4,999.99 |
C2
|
— |
| RBC Royal Bank RBC Enhanced Savings |
0.20% — $100,000.00 and up
0.15% — $60,000.00 to $99,999.99 0.10% — $25,000.00 to $59,999.99 0.05% — $10,000.00 to $24,999.99 0.02% — $5,000.00 to $9,999.99 0.00% — $0.00 to $4,999.99 |
C1/C2
|
Interest calculated with C1 method on balance up to $59,999.99, and with C2 method above that. |
| Scotiabank Scotia Power Savings Account |
0.75% — $5,000.00 and up
0.00% — $0.00 to $4,999.99 |
C1
|
— |
| TD Canada Trust Guaranteed Investment Account |
0.75% — $5,000.00 and up
0.00% — $0.00 to $4,999.99 |
C2
|
— |
Data last updated: August 2009
1
Interest rates are as of August 13, 2009 and are subject to change at any time. Interest is paid on a monthly basis and is calculated on the daily closing balance, unless otherwise specified.
2
“C1” means that the financial institution applies the highest interest rate to the whole balance.
“C2” means that the financial institution applies a different interest rate to each tier of the balance.
“C1/C2” means that the financial institution applies a combination of both C1 and C2 calculation methods depending on the tier. See the section How interest is calculated in our publication Savings Accounts for more details.
“C2” means that the financial institution applies a different interest rate to each tier of the balance.
“C1/C2” means that the financial institution applies a combination of both C1 and C2 calculation methods depending on the tier. See the section How interest is calculated in our publication Savings Accounts for more details.
3
Canadian Tire Bank accounts are not available in Quebec.
4
HSBC Bank Canada High Rate Savings and Regular Savings accounts are not available in P.E.I. or in the Territories.
5
PC Financial accounts are not available in Quebec.
6
Savings accounts opened under Alterna Savings are only available in Ontario and Quebec.
7
This account is offered by Natcan Trust Company but is administered by the National Bank
of Canada.
8
Canadian Western Bank branches are located in Manitoba, Saskatchewan, Alberta and British Columbia.
