“Earn More Interest on Your Savings: The Top High-Yield Accounts in Canada”
As an investor, I am always looking for the best deal when it comes to saving my money. When it comes to high interest savings accounts in Canada, there are some great options to choose from. I’ll be sharing the top 4 high interest savings accounts in Canada, ranked by the highest interest rates.
- EQ Bank Savings Plus Account — With an interest rate of 2.30%, this account offers one of the highest interest rates in Canada. The account comes with no monthly fees and no minimum balance, making it easy for anyone to start saving. The bank uses the principle of “scarcity” by promoting the high-interest rate, which makes users act fast.
- Tangerine Savings Account — This account offers an interest rate of 2.15%, making it a close runner-up to EQ Bank’s Savings Plus Account. The account also has no monthly fees and no minimum balance, as well as offering a bonus for referring friends using “reciprocity”
- Motusbank Savings Account — With an interest rate of 2.10%, this account offers a slightly lower interest rate than Tangerine and EQ Bank, but still a great option for savers. Motusbank uses “commitment and consistency” by providing a variety of savings plans that can be tailored to fit user’s specific savings goals.
- Oaken Financial GICs — this account offers a rate of 2.05% for a term of one year, with a $500 minimum deposit.
In conclusion, these are the top 5 high interest savings accounts in Canada, according to their interest rates. Each account has its own unique features and strategies, but all of them can help you earn more interest on your savings.
It’s important to consider not only the interest rate but also other factors such as fees, account minimums, and accessibility when choosing a savings account. It is also recommended to do your own research and compare different options to make the best decision for you.
I hope this information is helpful. Good luck with your research!
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