Reviewed by Jen, founder of MoneyMint · Updated September 17, 2026
Canadian Tire High Interest Savings Account Review
Our take: A genuinely simple, no-fee savings account paying a flat 2.40% on every dollar with no minimum balance and no lock-in period — but there’s no welcome bonus, the rate isn’t tiered up like some competitors’ top offers, and the account isn’t available to residents of Quebec.
- Goes straight to Canadian Tire Bank
- Our review
The Canadian Tire High Interest Savings Account is Canadian Tire Bank’s flagship everyday savings account: no monthly fees, no minimum balance, and a single flat interest rate that applies to your entire balance from the first dollar. It’s a straightforward alternative to accounts that bury their best rate behind a balance tier or a time-limited promo — the tradeoff is that Canadian Tire doesn’t currently advertise a welcome bonus for opening one, and its 2.40% standing rate isn’t the highest on the market. Here’s what you actually get.
MoneyMint rating
#1 of 13 savings accounts · How we rate
$240
interest on $10,000 over a year at this account’s effective rate. Compare savings rates →
Not Sure? Three Accounts People Compare It With
Tangerine Savings Account
Pick this instead if you want an equally simple flat-rate account from a bank with a longer track record, even though its posted rate is lower.
Rate 0.30% flatFee $0
EQ Bank Personal Account
Pick this instead if you want a higher ongoing rate with direct deposit, plus free everyday chequing-style features in the same account.
Rate From 1.00%Fee $0
Scotia High Interest Savings Account (HISA)
Pick this instead if you’re comfortable with a promo-plus-tier rate structure and could reach the higher balance tiers.
Rate 2.80% promoFee $0
Canadian Tire High Interest Savings Account Review
Rate and terms confirmed September 17, 2026
The interest rate and terms in this review were confirmed on ctfs.com on September 17, 2026. MoneyMint does not currently have an affiliate relationship with Canadian Tire Bank; this review is independent editorial content. Canadian Tire Bank’s rates and terms can change at any time. This account is not currently available to residents of Quebec. This is general information, not financial advice — confirm current rates and terms on Canadian Tire Bank’s own page before you open an account.
Frequently Asked Questions
Is the Canadian Tire High Interest Savings Account’s 2.40% rate a limited-time promo?
No. It’s Canadian Tire Bank’s standing annual rate, quoted as of the date of the offer and subject to change without notice, but there’s no separate introductory rate that drops off after a set number of months.
Is the Canadian Tire High Interest Savings Account available in Quebec?
No. Canadian Tire Bank’s deposit products, including this savings account, its Tax Free High Interest Savings Account, and its GICs, are not currently available to residents of Quebec.
Is there a minimum balance or lock-in period on this account?
No. There’s no minimum balance required to open or maintain the account, and no lock-in period — you can transfer money in or out online or by phone at any time.
Is my money insured in a Canadian Tire High Interest Savings Account?
Canadian Tire Bank is a member of the Canada Deposit Insurance Corporation (CDIC), so eligible deposits are insured up to CDIC’s standard limits.