Compare the Best Alterna Bank Youth Savings Accounts

Looking for a cost effective way to teach your child about the importance of saving? Youth savings accounts are accounts that are generally restricted to Canadian residents under the age of 18, accompanied by very few, if any fees. Among the benefits of having a youth savings account are a high (if not unlimited) number of included transactions per month, and no minimum balance. Input the estimated balance of the account, then compare and find the best rate available.

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About Alterna Bank

Alterna Bank is the banking division of Alterna Savings, an Ottawa-based credit union. Alterna Bank offers high-interest savings accounts with competitive interest rates. By becoming a client at Alterna Bank, you can expect service and support online, over the phone, or at branches in Quebec and Ontario.


Compare Alterna Bank's savings accounts

Alterna Bank High Interest eSavings Account

Alterna Bank’s High Interest eSavings Account is an online-only account and can also be accessed via mobile apps. This account offers unlimited free transfers and there’s no minimum balance required. Account holders also enjoy free unlimited bill payments and debits.

Alterna Bank Tax-Free Investment Savings Account

Alterna Bank’s Tax-Free Investment Savings Account helps you save with auto-transfer options and tiered interest rates. No minimum balance is required. Additionally, you get one free withdrawal and transfer every month but you’ll be charged fees for each type of transaction afterwards. Note that the contribution limit for this tax-free savings account follows the Canada Revenue Agency guidelines.

Alterna Bank Investment Savings Account

The Alterna Bank Investment Savings Account features the same tiered interest rate as the Alterna Bank Tax-Free Investment Savings Account. The only difference is that for the Investment Savings Account, interest earned is taxable.


Compare other Alterna Bank products

Alterna Bank also offers RRSP and RRIF savings accounts, but GICs are only offered through Alterna’s credit union and not its banking subsidiary. Additionally, Alterna Bank also offers other financial solutions such as mortgages, credit cards, and term deposits.


Get the best savings account

While Alterna Bank’s high-interest savings account offers one of the most competitive interest rates, it may be in your best interest to browse some more if you’re looking for something a little different. In that case, you can use our savings account comparison tool to find other TFSA, youth, or senior accounts that may better suit what you're looking for.


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