Want to earn maximum interest on your savings? High interest savings accounts are the answer, typically having no minimum deposit requirement, and earning over 1.00%. Input your estimated account balance, then compare and find the best rate available for you!
| Purchase interest rate | Bank account | Included | 1st year return | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1.25% |
EQ Bank Savings Plus Account
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Free e-transfers and no monthly fees | $62 | Get this rate Get more details | ||||||||||||
0.35%
Interest rate tiers
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Canadian Western Bank Summit Savings Account
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$18 | Get this rate Get more details | |||||||||||||
0.1%
Interest rate tiers
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Canadian Western Bank Peak Performance Account
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$5 | Get this rate Get more details | |||||||||||||
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This account is a winner of the Personal Finance Awards in the Top Savings Account product category. Learn more about our yearly Personal Finance Awards here.
2020 Winner
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Canadian Western Bank is a Schedule 1 bank that offers a range of business banking, personal banking, investing, and financial planning services. Based in Edmonton, Canadian Western Bank focuses solely on Western Canadian clients. Customers can access their accounts either online, at a branch, or through an ATM. Currently, Canadian Western Bank has branches in British Columbia, Alberta, Saskatchewan, and Manitoba.
The Canadian Western Bank Summit Savings Account is the bank’s highest paying savings account. The Summit Savings Account features a tiered interest rate, which pays a higher rate on balances of $15,000 or more. Interest will be paid to you monthly and no monthly balances are required. However, transaction fees will apply to all transactions except internal transfers into your other Canadian Western Bank accounts.
Canadian Western Bank has one of the most competitive savings rates compared to other providers who offer youth accounts. While the interest rate is tiered, the best rate for this account can be made on balances above $500. Moreover, Canadian Western Bank’s youth account features no monthly fee. Transactions and internal transfers can also be made without any additional charges.
The Canadian Western Bank Peak Performance Account is an everyday savings account that pays interest monthly. The Peak Performance Account doesn’t require any monthly fees but transactions and all transfers will be subject to charges after the first two free withdrawals are made. The interest rate is tiered such that a higher interest rate can be made on balances of above $5,000 or above $25,000.
The Performance Gold Leaf Plus account pays interest monthly and has a tiered interest rate that pays higher savings rates when you keep a balance above $5,000 or above $25,000. This is Canadian Western Bank’s senior savings account and you must be at least 57 years of age to qualify for it. There are no transaction fees or transfer fees.
Canadian Western Bank offers a number of personal banking accounts, including chequing accounts. You can also get a loan or a mortgage at this bank.
Canadian Western bank only serves clients located in the provinces of Western Canada. If you’re not located in British Columbia, Alberta, Saskatchewan, or Manitoba, you may need to find a different financial institution to bank with. To find savings accounts that are comparable to those offered by Canadian Western Bank, you can use our savings account comparison tool to find an account that's right for you.