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1. • 
     • Scotiabank MomentumPLUS Savings Account – 5.70% in the first three months for new account holders. Tangerine Savings Account – 6.00% in the first five months for new account holders. Simplii High Interest Savings Account – 6.25% in the first five months for new account holders. (Must apply by Oct. 31, 2024. Limits apply.)
     www.forbes.com/advisor/ca/banking/savings/best-savings-accounts/

     Best Savings Accounts In Canada For October 2024 - Forbes

2. People also ask

   What are the best high-interest savings accounts in Canada?

   • This combination of a high interest rate and limited conditions makes EQ Bank one of the top recommended best high-interest savings accounts in Canada. Regular interest rate: 5% interest, plus 1% cash back on select purchases. Earn up to 5% with KOHO's paid plans. Credit card: Earn 1% cash back on groceries, eating & drinking and transportation.

   Best high-interest savings accounts in Canada - Money.ca

   money.ca/banking/savings-accounts/best-high-interest-savings-accounts

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   Why do Canadian banks offer high-interest savings accounts?

   • You will typically find high-interest savings accounts offered by online, branchless banks or credit unions because they don’t have the same expenses and overhead as Canada’s Big Five Banks or other brick and mortar financial establishments, so they can pass on the savings on to their customers in the form of a higher than average interest rate.

   Best High-Interest Savings Accounts In Canada For September 2024

   www.forbes.com/advisor/ca/banking/savings/best-high-interest-savings-accounts/

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   What is the APY for a high-interest savings account in Canada?

   • Therefore, if you have a principal amount of $1,000, but you make no regular contributions in addition to that and you have an APY of 2.5% with interest calculated daily, by the end of the year you will have $1,025.31 in your account. The best high-interest savings account in Canada offers an APY of 5.50%.

   Best High-Interest Savings Accounts In Canada For September 2024

   www.forbes.com/advisor/ca/banking/savings/best-high-interest-savings-accounts/

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   What is the Neo high-interest savings account?

   • The Neo High-Interest Savings Account offers the 4% interest rate, as well as unlimited free transactions, and no minimum deposit requirements. You can also have up to 10 accounts for all your savings goals in the app.

   Best high-interest savings accounts in Canada - Money.ca

   money.ca/banking/savings-accounts/best-high-interest-savings-accounts

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   What is the CIBC eadvantage savings account rate?

   • Tangerine Savings Account – 6.00% in the first five months for new account holders. Simplii High Interest Savings Account – 6.25% in the first five months for new account holders. (Must apply by Oct. 31, 2024. Limits apply.) CIBC eAdvantage Savings Account – 5.50% in the first 120 days for new account holders.

   Best Savings Accounts In Canada For September 2024

   www.forbes.com/advisor/ca/banking/savings/best-savings-accounts/

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   Should you use a high interest rate savings account?

   • A general rule of thumb is that the higher the interest rate, the more limitations come with the account. Consider your savings goal, too. As outlined below, you’ll get the best results if you use an account designed for the time-frame of your savings goal: short-term, medium-term or long-term. Which savings account should you use?

   The best savings and investment accounts in Canada for 2024

   www.moneysense.ca/save/banking/best-savings-accounts/

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3. www.moneysense.ca › save › best-high-interestThe best high-interest savings accounts in Canada for 2024

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   2 days ago · Find the best and most up-to-date savings rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated return based on the size of your balance.

4. money.ca › banking › savings-accountsBest high-interest savings accounts in Canada - Money.ca

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   Sep 6, 2024 · This is one of the best non-promotional interest rates in Canada right now. Not only do you get a good rate, the EQ Personal Account also comes with many more advantages, and very few...

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5. www.forbes.com › advisor › caBest Savings Accounts In Canada For October 2024 - Forbes

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   Oct 9, 2024 · 1. Simplii HISA. Learn More. APY. 0.35% – 4.25% for eligible deposits. Minimum Deposit Requirement. $0. Other Features: No maintenance or monthly fees. Set up automatic deposits. From Aug 1st...

   • CIBC and RBC are Canada’s best banks for savings accounts, together having earned seven out of the ten spots on Forbes Advisor Canada’s list of the...
   • Most savings accounts in Canada do not have a monthly fee, but that doesn’t mean they’re free. Many savings accounts require you to have a paid che...
   • Savings accounts are available to Canadians of all ages, including newborns. Children 0-12 years old can sign up for a youth savings account like t...
   • Look for savings accounts that offer welcome bonuses and introductory interest rates such as the RBC High Interest eSavings account, which pays 4.6...
   • Your savings account number is available from your financial institution. You can find it on a statement or through your online banking portal.
   • You can close a savings account over the phone or by visiting a branch. Note the account will need to have a positive balance, as well as enough mo...
   • Most savings accounts in Canada earn interest, but only a few earn enough to make a difference. Look for a regular interest rate of at least 1.50%,...
   • The highest savings account rate in Canada is currently a tie between four banks, each offering regular interest rates of 4.20%. With a starting ba...
   • Annual percentage yield, or APY, represents the amount of interest the bank pays on your deposits for one year. For example, an APY of 1.0% would p...
   • Savings accounts in Canada are extremely safe. Deposits at major banks are covered by CDIC insurance, which protects your savings up to $100,000 in...

6. www.forbes.com › advisor › caBest High-Interest Savings Accounts In Canada For October ...

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   Oct 9, 2024 · Discover the best high yield savings accounts in Canada with interest rates of 2.50% and higher. Do you want your savings to grow while you're sleeping? Try a high-interest savings...

   • The best banks in Canada for savings accounts are the ones that pay the best everyday rates of interest and charge the lowest fees. These include M...
   • While most savings accounts in Canada don’t charge monthly fees, some charge transaction fees as high as $5. The Oaken Savings Account and Alterna...
   • There are no age restrictions on savings accounts in Canada and some youth accounts are even available to newborns. Children as young as 12 may be...
   • Look for savings accounts that offer promotional interest rates or welcome offers. Keep in mind, you’re usually better off in the long run with a h...
   • You can find your savings account number on your monthly statement, or through your online or mobile banking portal.
   • You can close a savings account over the phone or in-person at a branch. You’ll need to ensure there’s enough money in the account to cover any fee...
   • Most, but not all, savings accounts in Canada earn interest. To get the best return on your savings, look for a savings account that pays a high in...
   • The best savings accounts in Canada currently pay up to 4.50% interest, calculated daily and paid monthly. With compounding, savings of $1,000 can...
   • Annual percentage yield, or APY, refers to the interest rate paid by a bank to a savings account holder on deposits for one year. For example, a $1...
   • Savings accounts in Canada are very safe. The Canadian Deposit Insurance Corporation protects savings up to $100,000 in the event your participatin...

7. www.ratehub.ca › savings-accounts › best-savingsBest Savings Accounts in Canada | Ratehub.ca

   www.ratehub.ca › savings-accounts › best-savings

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   Sep 10, 2024 · Major Canadian banks pay 0% interest on chequing accounts, whereas savings accounts can pay between 1.5% - 4%. With a savings account, you can separate money that is in surplus to your day-to-day requirement and earn a little extra.

8. www.moneysense.ca › save › bankingThe best savings and investment accounts in Canada for 2024

   www.moneysense.ca › save › banking

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   May 1, 2024 · Best regular interest rate savings account at a credit union: Maxa Financial High-Interest Savings Account. Best regular interest rate in a hybrid account: Wealthsimple Cash. Best...

9. www.ratehub.ca › savings-accounts › accountsBest high interest savings accounts in Canada 2024 - Ratehub.ca

   www.ratehub.ca › savings-accounts › accounts

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   Oct 3, 2024 · Compare the best high interest savings accounts and top providers across Canada, and get the best interest rates. Learn how to get the most of your HISA.