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Banking

Compare Canadian bank accounts.

Every chequing, savings and newcomer account we’ve reviewed — fees, rates and sign-up cash side by side, verified against each bank’s own site.

Short answer: As of September 16, 2026, the top promotional rate we track is 5.000% at BMO Savings Amplifier (120 days), followed by 4.65%–4.60% promos at Scotiabank MomentumPLUS, Simplii and RBC; the EQ Bank Personal Account’s 1.00% (2.75% with $2,000+ direct deposit) is the best rate that doesn’t expire. The biggest sign-up cash is Scotiabank’s bundle offer, up to $1,000, followed by BMO Performance Chequing’s up to $900 ($17.95/month unless you hold $4,000) and Simplii’s no-fee $350 cash offer. Full rankings and every promo end date are in the cards to the right and our bank account rates and bonuses tracker.

Working out what an account actually costs you? The minimum balance calculator and five other free tools are together on one page: MoneyMint tools and calculators.

Happy to lock your money away for a set term? Compare GIC rates from 11 banks and credit unions, checked weekly.

RankedBest chequing accounts16 accounts · 5 with no feeSee the ranking →RankedBest high-interest savings13 accounts · promos up to 5.00%See the ranking →New to Canada?Accounts with no Canadian credit history requiredNewcomer banking →
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Canadian Bank Accounts We Review

Rates, fees and offers are as last verified by MoneyMint and may have changed — always confirm current terms on the bank’s official page before opening an account. Most “Open an account” links go directly to each bank’s official site. Where MoneyMint earns a commission, it never affects how accounts are ranked. This page is general information, not personalized financial advice.

Common Questions

Which Canadian Bank Account Has the Highest Interest Rate Right Now?

As of September 16, 2026, the highest rate on an account we review is a promotional 5.000% at the BMO Savings Amplifier Account, for 120 days on balances up to $1,000,000, though it requires opening a BMO chequing account and BMO hasn’t published an end date for the current offer. Next is 4.65% for three months at the Scotiabank MomentumPLUS Savings Account, then 4.60% at the Simplii High Interest Savings Account (5 months) and RBC High Interest eSavings (90 days). For a rate that does not expire, the EQ Bank Personal Account pays 1.00% with no conditions or 2.75% with a $2,000-plus monthly direct deposit. See the rates and bonuses tracker for current figures.

What Is the Best No-Fee Chequing Account in Canada?

Four of the ten chequing accounts we review have no monthly fee. As of October 1, 2026, the Simplii Financial No Fee Chequing Account has the largest sign-up bonus among them at $350 cash, while Wealthsimple Chequing pays the highest interest on a chequing balance at up to 2.25%. The largest bonus of any chequing account we review is Scotiabank’s up-to-$1,000 bundle offer, but the Preferred and Ultimate Packages both carry a monthly fee unless you keep a qualifying balance. The best choice depends on whether you value a bonus, interest, or in-branch service.

How Do Bank Account Sign-Up Bonuses Work?

A bank pays a cash bonus after you open an eligible account and complete conditions within a deadline, most often setting up a recurring direct deposit such as a paycheque, and sometimes paying bills or keeping a minimum balance. Bonuses are usually for new customers only and the account must typically stay open for several months. Always read the offer terms before opening the account.

How Does MoneyMint Verify the Rates and Fees Shown Here?

Every fee, rate and bonus is checked against the bank’s own product page, and each review shows the date it was last verified. Promotional rates and bonuses with a published end date are tracked with a countdown on our rates and bonuses page. Most “Open an account” links go directly to each bank’s official site.