The thing is, some of the banks chose not to boost those rates when over-all interest rates started to recover. Here’s the lowdown on the annualized interest rates currently paid on both types of premium savings accounts at the six major banks, account by account. Meanwhile, the Scotiabank MomentumPLUS Savings Account pays regular interest of 1.35 per cent plus bonus interest for foregoing withdrawals. The National Bank High Interest Savings Account pays 1.25 per cent regular interest with no minimum balance requirements. In addition to regular interest rates, several banks offer temporary promotional rates for opening a new premium savings account.

Source: thestar October 10, 2022 12:01 UTC