In recent years, online savings accounts have become increasingly popular in Canada as they offer more competitive interest rates and a convenient banking experience. With so many options available, it can be challenging to find the online savings account that best suits your needs. We have gathered a list of the top 16 online savings accounts in Canada to help you make an informed decision.

1. EQ Bank Savings Plus Account

EQ Bank offers a high-interest savings account with no monthly fees, no minimum balance requirements, and unlimited free transactions. Their interest rate is one of the highest among Canadian banks.

2. Tangerine Savings Account

Tangerine’s Savings Account offers a competitive interest rate, no monthly fees, and unlimited transactions. Additionally, you can benefit from their promotional interest rate for the first five months.

3. Simplii Financial High Interest Savings Account

Simplii Financial is known for its high-interest rates and zero monthly fees. They also provide access to thousands of CIBC ATMs for free.

4. Motusbank High Interest Savings Account

Motusbank offers a top-tier interest rate, no monthly fees, and free unlimited transactions. The account is available to all Canadian residents.

5. Alterna Bank High Interest eSavings Account

Alterna Bank’s eSavings Account features an attractive interest rate along with zero monthly fees, no minimum balance requirement, and free unlimited transactions.

6. Scotia OnLine Momentum PLUS Savings Account

Scotia’s Momentum PLUS Savings account allows users to earn more by offering tiered interest rates based on how long you save.

7. Oaken Financial Savings Account

Oaken provides a competitive interest rate and no-fees on their savings accounts, along with a convenient online banking system.

8. RBC High Interest eSavings Account

RBC’s eSavings Account offers attractive interest rates with free electronic self-serve transactions and no monthly fees.

9. BMO Bank of Montreal Savings Builder Account

BMO’s Savings Builder Account provides a unique bonus interest rate feature for customers who regularly deposit and maintain their account balance.

10. CIBC eAdvantage Savings Account

CIBC’s eAdvantage Savings account offers a competitive interest rate with no monthly fees for those who utilize electronic self-serve transactions.

11. HSBC High Rate Savings Account

HSBC offers customers the opportunity to earn more with a higher interest rate on their savings accounts and no monthly account fees.

12. Neo Financial Savings Account

Neo Financial provides an innovative savings solution with cashback benefits combined with the functionality of a traditional savings account.

13. PC Financial Interest Plus Savings Account

PC Financial’s Interest Plus account offers the opportunity to earn regular recurring bonuses based on the account balance without any monthly fees.

14. Canadian Tire High Interest Savings Account

Canadian Tire Bank features a high-interest rate on its online savings accounts along with convenient access to online banking services.

15. Manulife Advantage High Interest Savings Account

Manulife Bank focuses on helping Canadians save money by providing competitive interest rates and no monthly fees on their Advantage High Interest Savings Accounts.

16. Wealth One Bank of Canada High-Interest Savings Account

Wealth One Bank’s High-Interest Savings Account features an attractive interest rate without any hidden fees or minimum balance requirements.

Each of these 16 online savings accounts offers different features, interest rates, and perks designed to appeal to various types of savers – whether you prioritize high interest, flexibility, or convenience when selecting your account, this list is an excellent place to start your search.