Last updated September 30th, 2019.

Top Savings Account Interest Rates – Banks

Bank Account Interest Rate Monthly Fees Debit Transaction Fee Minimum Balance Restrictions
Motive Financial Motive Savvy Savings 2.80% 5$ Unavailable in Quebec; two free debit transactions per month
EQ Bank EQ Bank Savings Plus Account 2.30%* Unavailable in Quebec
Alterna Bank High Interest eSavings 2.30% n/a
Oaken Financial Oaken Savings 2.30% n/a
Wealth One Bank of Canada High Interest Savings 2.30% Unavailable in Quebec
motusbank High Interest Savings 2.10% n/a
Peoples Trust e-Savings 2.00% n/a
Scotiabank MomentumPLUS 2.00% If there is a debit transaction within 360 days, the interest rate reverts to 1.00%
Wealthsimple Save Wealthsimple Save 2.00% n/a
Canadian Tire Bank High Interest Savings 1.50% Unavailable in Quebec

* Interest is calculated daily on the total closing balance and paid monthly. Rates are per annum and subject to change without notice.

Top Savings Account Interest Rates – Credit Unions

Credit Union Account Interest Rate Monthly Fees Debit Transaction Fee Minimum Balance Restrictions
Steinbach Credit Union Regular Savings Account 2.55% $1.00 One free debit transaction per month; interest is paid annually and is calculated using the minimum balance of each month
MAXA Financial MAXA Savings 2.45% $1.50 One free debit transaction per month
Ideal Savings Ideal Savings 2.40% $3.00 Unavailable in Quebec; three free debit transactions per month
Outlook Financial High Interest Savings 2.40% $1.00 One free debit transaction per month
AcceleRate Financial AcceleRate Savings 2.30% $1.00 One free debit transaction per month
Achieva Financial Achieva Savings 2.30% $1.00 One free debit transaction per month
Implicity Financial High Interest Savings 2.30% n/a
Hubert Financial Happy Savings 2.25% Unavailable in Quebec

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These lists are updated monthly, but interest rates are subject to change at any time, so there is no guarantee that they are accurate.

If you find a mistake or an account with a better rate, please send us a message!

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