Interest Rates on Savings Accounts in Ontario

Financial Products > Savings Accounts > Ontario
A list of Savings Accounts available in Ontario.
Use this comparison chart to find the highest interest rates and the right savings account.

Savings Account Interest Rate Minimum Balance Withdrawal Fee Deposit Insurance Customer Rating 
Steinbach Regular Savings Account2.55 %$0$?DGCM
MAXA Savings Investment Account2.45 %$0$1.00 (1 Free/Month)DGCM
Outlook High-Interest Savings Account2.40 %$0$1.00 (1 Free/Month)DGCM
Achieva Daily Savings Account2.40 %$25$1.00 (1 Free/Month)DGCM3.25
EQ Bank Savings Plus Account2.30 %$0$0CDIC2.5
AcceleRate Savings2.25 %$0$1.00 (1 Free/Month)DGCM5
Implicity High Interest Savings Account1.80 %$0$0DGCM
Hubert Financial Happy Savings Account1.70 %$0$0DGCM4.81
Steinbach Monthly Savings Account1.65 %$0$?DGCM
Canadian Direct Financial KeyRate Savings Account1.50 %$0$0CDIC
Scotiabank Momentum Savings Account1.50 %$5000$5CDIC
Manulife Advantage Account1.50 %$0$0CDIC4.25
Parama Daily Interest Premium Savings Account1.50 %$0$0DICO
Peoples Choice E-Savings Account1.45 %$0$0CDIC
FirstOntario Credit Union High Interest eSavings1.40 %$0$3.50 (1 Free/Month)DICO4
ICICI HiSAVE Savings Account1.35 %$0CDIC2.75
Meridian Good to Grow High Interest Savings Account1.30 %$0$0DICO
Oaken Savings Account1.25 %$0$0CDIC
Canadian Tire High Interest Savings Account1.25 %$0CDIC
Steinbach Plan 24 Savings1.15 %$0$1 (1 free/month)DGCM
Scotiabank Savings Accelerator Account1.10 %$25000$5CDIC
RBC High Interest eSavings1.05 %$0CDIC2.13
CIBC eAdvantage Savings Account1.05 %$5000$0CDIC
President's Choice Financial Interest Plus Savings Account1.00 %$0CDIC
Tangerine Savings Account1.00 %$0CDIC3.27
Comtech Life Saver High Interest Savings Account0.95 %$0$5.00 (1 free/month)DICO
Windsor Family CU ALTO Savings0.80 %$0$1.50 (1 free/month)DICO
State Bank of India (Canada) Super Saver Account0.60 %$1000$0CDIC
HSBC High Rate Savings0.55 %$0$0CDIC
BMO Smart Saver Account0.50 %$5000$5.00 (1 free/month)CDIC1.06
Comtech Daily Interest Savings Account0.50 %$0$0DICO
Empire Life Treasury Interest Option0.25 %$0$?-
FirstOntario Credit Union Investment Savings0.20 %$0$? (1 Free/Month)DICO
Effort Trust Daily Interest Savings Account0.10 %$0$?CDIC
Alterna CU Investment Savings Account0.05 %$0$2.50 (1 free/month)DICO
National Bank Special Project Savings Account0.05 %$0$5.00 (1 free/month)CDIC
CIBC Premium Growth Account0.05 %$0$1.25CDIC
CIBC Bonus Savings Account0.05 %$0$5.00 (1 free/month)CDIC
TD High Interest Savings Account0.05 %$5000$5.00CDIC
Meridian Advantage Savings Account0.05 %$0$1.00 (1 Free/Month)DICO
Scotiabank Money Master Savings Account0.05 %$0$0CDIC
FirstOntario Credit Union Daily Interest Savings0.05 %$0$0.75 (2 Free/Month)DICO
Laurentian Bank Investment Excellence Account0.05 %$0$1.00 (1 Free/Month)CDIC
Windsor Family CU Plan 24 Savings Account0.03 %$0$1.50 (1 free/month)DICO
Scotia Power Savings Account0.02 %$5000$0CDIC
State Bank of India (Canada) Saving Account0.01 %$100$0CDIC2.88
RBC Day to Day Savings0.01 %$0$0CDIC
TD Every Day Savings Account0.01 %$0$0CDIC2.67
BMO Premium Rate Savings Account0.01 %$0$5.00 (1 free/month)CDIC
Alterna CU Daily Interest Savings0.00 %$0$0.80DICO
RBC Enhanced Savings0.00 %$5000$0CDIC

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Brian on February 6, 2012
In Ontario, I find Ally to be a good option. It pays a very competitive interest rate on every dollar and the interest is compounded daily. It is also insured by the Canada Deposit Insurance Corporation (up to 100 000 dollars) and can link to your regular chequing account.

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