Savings Accounts

Choosing the right savings account

Although financial institutions offer a wide range of savings accounts, it can be difficult to find an account that meets your needs. It all depends on what you're looking for and how you plan to use your account.

The interactive tool will help you find the best savings account. This tool includes most of the savings accounts that are available in Canada. All of the savings accounts included have the following features:

• They are in Canadian dollars.
  
  
• They don't have any monthly fees, but you may have to pay a fee for each transaction you make.
  
  
• They pay interest on a monthly basis. The interest is calculated on your daily closing balance, unless otherwise indicated.
  
  

Interest rates can change at any time. Most of the current interest rates are listed on the Web sites of the financial institutions.

Some chequing accounts that also pay interest might not be included in the tables in this publication. For more information about chequing accounts, see the tables in The Cost of Banking Guide.