Financial Product Reviews

As one of 5 available Scotiabank savings accounts, the Scotiabank Savings Accelerator Account is one of the more unique options you can go with. That’s because you can choose to include it as part of a non-registered or registered investment plan.

The Scotiabank Money Master Savings Account is Scotiabank’s basic savings account. It’s a safe and convenient way to begin saving money, as it has no monthly account fees or minimum balance requirements. It also allows for unlimited no-fee transfers to other Scotiabank accounts, meaning your money is more easily accessible than in traditional savings accounts.

The Scotia Total Equity Plan is a parcel of credit products you can access by leveraging the equity you have in your home. This sounds more complicated than it is, really – this is really just a slightly fancier home equity line of credit (HELOC), meaning you can get low-interest credit that is secured by your house.

Most of Canada’s big banks offer insurance, including Scotiabank. On their website, Scotiabank has some information about their insurance offerings, including auto, life, health, travel, creditor, and home insurance. And by “some information,” we mean…some. There’s really not a lot of detail available on their website or when you get an online quote, so it’s really hard to know what’s available.

The Tangerine Savings Account is a digital savings account offered by Tangerine Bank. The shining feature of this account is its welcome bonus – a strong 4.5% for 5 months. After the solid start, the interest rate goes down to 0.3%, which is still competitive with the big 5 banks.

Alterna Bank is a digital bank that offers a TFSA eSavings Account with a competitive interest rate of 1.15%, no monthly fees, and no minimum balance. Though it’s a lesser known online bank, your balance is still secured through the Canada Deposit Insurance Corporation (CDIC).

Saving for the future has never been more important. Whether you're saving for a rainy day, building an emergency fund, for planning for your eventual retirement, you want to get an account with the best savings interest rate you can.

If you’re looking for a simple place to stash some extra cash and earn a higher-than-average interest rate, EQ Bank Personal Account may be exactly what you’re looking for. It does have a few other features, including the ability to easily send International Money Transfers, but otherwise it’s mostly geared to earning you interest.

The Tangerine US Dollar Savings Account is made for people who need a place to put some USD they have kicking around – or even deposit some income that comes in as USD. By using this account, you don’t have to convert the money to CAD, which could be a big help if the exchange rates are particularly bad.

Alterna Bank is a digital bank that offers an RRSP eSavings Account with a competitive interest rate of 1.15%, no fees, and no minimum balance. And even though it’s a relatively unknown bank (compared to the big 5), the balance is still secured through the Canada Deposit Insurance Corporation (CDIC).