The Best Interest Rates on Savings Accounts and How to Find Them

Introduction: What is a Savings Account

Savings accounts are the most popular way of saving money. Money deposited in these accounts earns interest, which is the profit made by a lender when he or she loans money to someone.

Savings account is an account in a bank where people deposit their money and earn interest on it. The money deposited in these accounts earns interest, which is the profit made by a lender when he or she loans money to someone. Savings account offers a safe place for people to save their money with higher rates of return than regular savings accounts.

5 Tips for Choosing Which Interest Rate You Want & Researching the Terms of the Accounts

When it comes to choosing the best interest rates on savings accounts, it can be hard to know where to start. The best way is to do your research and find out which accounts offer the best interest rates.

There are a few things you should keep in mind when looking for the best interest rate on a savings account. First, look at the annual percentage yield (APY). This is usually listed as a decimal number and represents how much money you will earn in one year if you deposit $1,000 into the account and don’t make any more deposits or withdrawals. Next, look at how often you plan on depositing money into your account. If you plan on depositing money every month, then an account with a monthly maintenance fee might be better for you than an account

Interest Rates Comparison Chart of All 5 Banks With Account Details & Information

The table below compares the interest rates of five banks with the highest yields in Canada. All the information is based on a year of savings.

Interest Rates Comparison Chart of All 5 Banks With Account Details & Information:

BMO - 2.45%

CIBC - 2.35%

RBC - 1.85%

TD - 1.75%

Scotiabank - 1.70%