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 
|
Features available | Recordkeeping options | Notes | |||
|---|---|---|---|---|---|---|
| Debit card
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Direct payment
|
Pre-authorized debit
|
Cheques
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| Ally (ResMor Trust) High Interest Savings Account |
— | — | — | — | Free electronic or paper statement | To open an account, the consumer must have a current chequing account with a financial institution. Ally (ResMor Trust) accounts are not available in Quebec. |
| Canadian Tire Bank High Interest Savings Account |
— | — | — | — | Free copy of statement annually. Monthly statement free, on request. | To open an account, the consumer must have a current chequing account with a financial institution. Canadian Tire Bank accounts are not available in Quebec. |
| ICICI Bank Canada HiSave Savings Account |
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— | Free electronic statement | |
| ING Bank of Canada Investment Savings Account |
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— | Free quarterly printed statement and free monthly electronic statement | 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 Canada Direct Savings |
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— | Free printed or electronic statement | HSBC Bank Canada High Rate Savings and Regular Savings accounts are not available in P.E.I. or in the Territories. |
| Manulife Bank Manulife Bank Investment Savings Account |
— | — | — | — | Quarterly statements are provided by the client's brokage firm. | |
| Dundee Bank of Canada Dundee Investment Savings Account |
— | — | — | — | Free printed statement | Interest calculated on the daily opening balance. Account available through financial advisors on the FundServ network. |
| HSBC Bank Canada High Rate Savings |
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— | Free printed or electronic statement. Passbook not available. | Interest calculated with C1 method on balance up to $1,000,000, and with C2 method above that. HSBC Bank Canada High Rate Savings and Regular Savings accounts are not available in P.E.I. or in the Territories. |
| ICICI Bank Canada Premium Savings Account |
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— | Free electronic statement | |
| RBC Royal Bank RBC High Interest eSavings |
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Free printed statement. Printed statement with cheque images returned: $2.00. Bank book not available. | |
| PC Financial Interest First Savings Account |
|
— | — | — | Free electronic statement. $1.00/month for a paper statement | PC Financial accounts are not available in Quebec. |
| PC Financial Interest Plus Savings Account |
|
— | — | — | Free electronic statement. $1.00/month for a paper statement. | Anniversary bonus interest from 0.02% to 0.10%, depending on the annual balance and time the account has been open. PC Financial accounts are not available in Quebec. |
| National Bank Special Project Savings Account |
|
|
— | — | Free electronic statement. Printed copy of monthly statement: $1.25. Passbook: $2.25. | Minimum deposit: $10 per month with automatic transfer. Transfers can be done from more than one National Bank account. National Bank accounts are not available in Newfoundland, Nova Scotia, Northwest Territories and Nunavut. |
| BMO Bank of Montreal Premium Rate Savings Account |
|
— | — | — | Printed copy of monthly statement: $2.00 (fee for the first statement is waived if the account is included in a plan) | Possible to add this account to an Everyday Banking Plan, as part of the fixed monthly fee. |
| CIBC CIBC Premium Growth Account |
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Free monthly or quarterly printed statement or free electronic statement or free bank book. | Interest calculated with C1 method on balance up to $59,999.99, and with C2 method above that. |
| Scotiabank Money Master Savings Account |
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— | | |
| Alterna Savings/Alterna Bank Daily Interest Savings |
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Account monthly fee varies depending on account package. Alterna Savings are only available in Ontario and Quebec. | |
| CIBC CIBC Bonus Savings Account |
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Free monthly or quarterly printed statement or free electronic statement or free bank book. | |
| Alterna Savings/Alterna Bank Tiered Interest Savings |
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Account monthly fee varies depending on account package. Alterna Savings are only available in Ontario and Quebec. | |
| HSBC Bank Canada Regular Savings |
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— | Free printed or electronic statement. Free passbook. | HSBC Bank Canada High Rate Savings and Regular Savings accounts are not available in P.E.I. or in the Territories. |
| Scotiabank Scotia Daily Interest Savings Account |
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Printed and electronic statements free. Printed statement with cheque images returned: $2.00 per month. Passbook: $1.50 (fee waived if minimum monthly balance of $500). | |
| TD Canada Trust Companion Savings Account |
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Free electronic statement. Printed statement: $2.25. Bank book: $2.25 (fee waived with minimum monthly balance of $500). | Transaction fees waived for balance over $25,000. |
| TD Canada Trust Tier Savings Account |
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Free electronic statement. Printed statement: $2.25. Bank book: $2.25 (fee waived with minimum monthly balance of $500). | 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 Account1 |
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Free monthly printed or electronic statement. Free passbook. | 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. National Bank accounts are not available in Newfoundland, Nova Scotia, Northwest Territories and Nunavut. |
| RBC Royal Bank RBC Day to Day Savings |
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Free printed statement. Printed statement with cheque images returned: $2.00. Bank book: $2.00. | |
| BMO Bank of Montreal Interest Chequing Account |
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Printed copy of monthly statement: $2.00 (fee for the first statement is waived if the account is included in a plan) | Possible to add this account to an Everyday Banking Plan, as part of the fixed monthly fee. |
| Scotiabank Scotia Gain Plan Investment Savings Account |
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Printed and electronic statements free. Printed statement with cheque images returned: $2.00 per month. Passbook: $1.50 (fee waived if minimum monthly balance of $500). | 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 |
|
— | — | — | One free monthly printed statement | |
| Canadian Western Bank Summit Savings Account |
— | — | |
— | No statement provided, but can be included in a monthly statement of transactions | C1 method on balance up to $1,000,000 and with C2 method above that. Canadian Western Bank branches are located in Manitoba, Saskatchewan, Alberta and British Columbia. |
| CIBC eAdvantageTM Savings Account |
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Free electronic statements | |
| RBC Royal Bank RBC Enhanced Savings |
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Free printed statement. Printed statement with cheque images returned: $2.00. Bank book: $2.00. | Interest calculated with C1 method on balance up to $59,999.99, and with C2 method above that. |
| Scotiabank Scotia Power Savings Account |
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Free electronic statement or free braille statement. | Can be opened in BNS branches. |
| TD Canada Trust Guaranteed Investment Account |
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Free printed and electronic statements. Free bank book. | |
Data last updated: August 2009
1
This account is offered by Natcan Trust Company but is administered by the National Bank
of Canada.
