1.EQ Bank Personal Account
EQ Bank
2.75%
Earn a $20 bonus by signing up with a referral link and depositing at least $100 within 30 days.
CA$0
CA$0
Unlimited free everyday banking transactions
The EQ Bank Personal Account stands out as the top choice because it offers no monthly fees and unlimited transactions, making it ideal for those who prioritize cost-effective banking. Its competitive interest rate of 2.75% with direct deposits further enhances its appeal, ensuring that customers can maximize their savings without incurring additional costs.
Pros:
- No monthly fees
- Unlimited transactions
Cons:
- Limited branch access
4.60%
CA$0
CA$0
Unlimited free transactions
What sets the RBC High Interest eSavings Account apart is its attractive promotional interest rate of 4.60% for the first three months, making it a compelling choice for new savers. This account provides flexibility with no minimum balance requirements, allowing users to earn interest while maintaining easy access to their funds.
Pros:
- Promotional interest rate
- No minimum balance
Cons:
- Lower rate after promotional period
3.Tangerine Savings Account
Tangerine
4.50%
CA$0
CA$0
Standard daily banking transactions are generally free
The standout feature here is the promotional interest rate of 4.50% for new clients, which is a significant draw for those looking to maximize their savings. This account is designed with no monthly fees and no minimum balance, making it accessible for a wide range of customers.
Pros:
- High promotional rate
- No monthly fees
Cons:
- Standard rate drops after promotional period
4.60%
CA$0
CA$0
Certain transactional debits and transfers outside of CIBC incur fees
This account shines for its promotional interest rate of 4.60% for the first three months, making it an attractive option for new customers. With no monthly fees and the potential for bonus interest, it offers a solid value proposition for those looking to grow their savings.
Pros:
- High promotional rate
- No monthly fees
Cons:
- Fees for external transactions
5.Simplii High Interest Savings Account
Simplii Financial
4.60%
CA$0
CA$0
Unlimited transactions
A key differentiator is the competitive promotional interest rate of 4.60% for the first five months, which is particularly appealing for new clients. This account also features no monthly fees, allowing users to save without worrying about additional costs.
Pros:
- Competitive promotional rate
- No monthly fees
Cons:
- Standard rate applies after promotional period
4.65%
Earn a $150 cash bonus by opening a Savings Amplifier Account and depositing at least $10,000 within 30 days.
CA$0
CA$0
Unlimited self-serve transfers to other BMO accounts
The BMO Savings Amplifier Account earns a promotional interest rate of 4.65% for the first 120 days, making it a strong contender for those looking to maximize their savings. Additionally, the cash bonus for new customers adds significant value, enhancing its appeal.
Pros:
- Cash bonus for new customers
- No monthly fees
Cons:
- Fees for assisted transactions
7.Neo Savings Account
Neo Financial
3.00%
CA$0
CA$0
Fee-free day-to-day transactions
This account offers a competitive interest rate of up to 3.00%, which is appealing for those looking for a straightforward savings option. With no monthly fees and flexible access to funds, it provides a solid choice for savers.
Pros:
- Competitive interest rates
- No monthly fees
Cons:
- No direct welcome bonus
8.KOHO Everything Plan
KOHO
3.50%
New members can receive a $20 cash bonus and a $75 cash rebate.
CA$22
CA$0
No foreign transaction fees
The KOHO Everything Plan is unique as it combines high-yield savings with cash back rewards, offering a 3.5% interest rate on savings. This account is particularly beneficial for those who can offset the subscription fee through daily spending rewards.
Pros:
- High interest rate
- Cash back rewards
Cons:
- Monthly subscription fee
9.Scotia High Interest Savings Account
Scotiabank
5.00%
CA$0
CA$0
Unlimited self-service transfers
This account offers a promotional interest rate of up to 5.00% for the first three months, making it an attractive option for new savers. With no monthly fees and unlimited transfers, it provides a flexible and rewarding savings solution.
Pros:
- High promotional rate
- No monthly fees
Cons:
- Tiered regular rates
10.EQ Bank Notice Savings Account
EQ Bank
2.75%
CA$0
CA$0
Withdrawals require a notice period
The EQ Bank Notice Savings Account offers competitive interest rates with the flexibility of unlimited deposits. However, it requires a notice period for withdrawals, which may not suit everyone. This account is ideal for those who can plan their withdrawals in advance.
Pros:
- High interest rates
- No monthly fees
Cons:
- Withdrawal notice required
Final Words
In conclusion, as you explore the best high-interest savings bank accounts in Canada this June 2026, remember that comparing options like EQ Bank’s Personal Account can lead you to significant savings without the burden of fees. Take the time to evaluate different offerings to find the account that best suits your financial goals.
Frequently Asked Questions
The EQ Bank Personal Account offers an interest rate of 2.75%.
No, the RBC High Interest eSavings Account has a monthly fee of CA$0.
The Tangerine Savings Account offers an interest rate of 4.50%.
The EQ Bank Personal Account has no everyday banking fees and allows an unlimited number of transactions each month.
The RBC High Interest eSavings Account has a competitive interest rate of 4.60%, which is higher than the rates of both the EQ Bank Personal Account and the Tangerine Savings Account.
High-interest savings accounts typically offer better interest rates compared to regular savings accounts, helping your money grow faster while still providing easy access to your funds.
Yes, all the mentioned accounts—EQ Bank, RBC, and Tangerine—allow easy access to your funds without any monthly fees.
Yes, high-interest savings accounts in Canada are generally considered safe as they are typically insured by the Canada Deposit Insurance Corporation (CDIC) up to a certain limit.
