Reviewed by Jen, founder of MoneyMint · Updated September 25, 2026
Tangerine Savings Account
Our take: A completely fee-free savings account with unlimited transactions and direct CDIC protection — and while the 0.30% posted rate is modest, new Tangerine clients can currently earn a 4.50% promotional rate on this account for their first 5 months.
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- Our review
Tangerine built its brand on simple, fee-free banking, and the Savings Account is the plainest expression of that idea: no monthly fee, no minimum balance, and a flat interest rate on every dollar you deposit. It’s a straightforward option for anyone who wants a no-fuss place to keep money separate from day-to-day spending. The one thing worth knowing before you open it: if you’re new to Tangerine, its New Client Two Rate Savings Offer currently pays 4.50% on this account for 5 months (153 days), on balances up to $1,000,000, subject to Tangerine’s qualifying conditions. After the promo ends, you earn the standard 0.30% posted rate.
MoneyMint rating
#12 of 13 savings accounts · How we rate
$30
interest on $10,000 over a year at this account’s effective rate. Compare savings rates →
Not Sure? Three Accounts People Compare It With
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EQ Bank Personal Account
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Tangerine Savings Account
Rate confirmed September 25, 2026
Rates and fees in this review were confirmed on tangerine.ca on September 25, 2026. Tangerine’s posted and promotional interest rates can change at any time and are not guaranteed. This is general information, not financial advice — confirm the current rate on Tangerine’s own page before you open an account.
Frequently Asked Questions
What interest rate does the Tangerine Savings Account pay?
As of September 25, 2026, Tangerine’s Savings Account pays a flat posted rate of 0.30% on every dollar in the account, regardless of balance. New clients can currently get a 4.50% promotional rate for their first 5 months.
Does the Tangerine Savings Account have a promotional rate?
Yes, for new clients. Tangerine’s New Client Two Rate Savings Offer pays 4.50% on this account for 5 months (153 days) on balances up to $1,000,000 (registered TFSA, RSP and RIF Savings Accounts get 5.00%). It’s for new clients whose Client Number is created between July 28 and November 30, 2026, and other conditions apply. After the promo, the account earns the standard 0.30% posted rate.
Are there any fees on the Tangerine Savings Account?
No. There’s no monthly fee and no minimum balance requirement, and Tangerine advertises no unfair fees or service charges on the account. Transactions are unlimited.
Is my money protected in a Tangerine Savings Account?
Yes. Tangerine Bank is a CDIC member in its own right, separate from its parent company Scotiabank, so eligible deposits are insured within CDIC limits.
Can I open more than one Tangerine Savings Account?
Yes. Tangerine allows up to 10 non-registered Savings Accounts per client, which makes it easy to set aside money for separate goals without any extra fees.