Our high-yield Combination Savings account
For when you want to earn higher interest but enjoy more flexibility than a traditional term deposit.
Special rates unlocked every 3 months- Access your money when plans change
Trusted by 65K+ members
FSRA insured up to $250,000
Monthly account fee
$0
What is a Combination Savings Account from YNCU?
A YNCU Combination Savings account gives you a way to earn a special savings rate while keeping more access to your money than a traditional GIC. It is available for new deposits during limited-time sales periods in January, April, July, and October. During those windows, special rates are unlocked for two weeks. To qualify for the special rate, keep at least $5,000 in the account during the rate period.
GrowEarn an exclusive interest rate
Keep at least $5,000 in your Combination Savings account during the rate period to qualify.- Earn the special posted rate on eligible savings while the offer is available.
- Keep larger savings earning more without locking them into a GIC.
AccessMore flexibility than a GIC
- Keep your savings available instead of locking them into a fixed GIC term.
- Access your money when plans change or something unexpected comes up.
- A good fit for larger savings you want to keep earning, without giving up flexibility.
SaveNo recurring monthly fee
- Save more without a monthly account fee shrinking your returns.
- Keep more of your money focused on earning
Special rates open every 3 months
The Combination Savings Account is available for new deposits during limited-time sales periods in January, April, July, and October. During each sales period, special rates are unlocked for two weeks and deposits can be made. To qualify for the special rate, maintain at least $5,000 in the account during the rate period. Interest is calculated daily on the closing balance and paid monthly to your account.
Current status: Combination Savings deposit window is currently open.
| Features | Rate |
|---|---|
| $0 - $4,999 | 0.05% |
| $5,000 - $99,999 | 1.30% |
| $100,000 - $249,999 | 1.40% |
| $250,000 - $499,999 | 1.50% |
| $500,000+ | 1.60% |
Good to know. Combination Savings account details and fees
Here’s what to know before you open an Combination Savings account. Review the account details below to see how your money earns interest, how much you can hold in the account, and what to expect for fees, balance requirements, and withdrawals. See all fees here.
| Features | Combination Savings |
|---|---|
| Monthly account fee | $0 |
| Minimum balance | $5,000 |
| Deposit window | January, April, July, and October |
| Sales period length | 2 weeks |
| Interest | Calculated daily on the closing balance and paid monthly |
| Criteria | Must maintain a $5,000 minimum balance |
| What happens if balance drops below $5,000 | The lowest posted base rate will be applied |
| Transactions allowed | Bill payments, online transfers to YNCU accounts, and withdrawals |
| Transaction not approved | Loan payments, ATM access, debit card transactions, and transfers to accounts at other financial institutions |
| Number of included transactions | One free debit transaction per month |
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Commonly asked questions
Combination Savings opens for new deposits during limited-time sales periods in January, April, July, and October. Each sales period lasts for two weeks.
You need to maintain a minimum balance of $5,000 during the rate period to qualify for the special posted rate.
If your balance drops below $5,000 during the rate period, the lowest posted base rate will be applied.
No additional funds can be deposited until the next sales period opens.
No. Combination Savings gives you more access than a traditional GIC. You can make withdrawals, bill payments, and online transfers to other YNCU accounts, but some transaction types are not available.
Loan payments, ATM access, debit card transactions, and transfers to accounts at other financial institutions are not available.
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Legal stuff
Account eligibility and agreements
Personal savings accounts are offered by Your Neighbourhood Credit Union Limited (“YNCU”), an Ontario credit union. Account opening is subject to applicable membership requirements, identity verification and account eligibility requirements. Your account and related services are governed by the applicable account, debit card and digital banking agreements provided to you.
†Interest rates and calculation
Interest rates are expressed as annual rates and may change. Interest on YNCU savings accounts is calculated daily and paid monthly. The applicable rate depends on the account and any stated balance requirements. See the current rate table for rates, balance thresholds and effective dates.
Where tiered interest rates apply, eligibility for a particular rate and the balance to which that rate applies are determined by the account’s interest calculation rules. An advertised maximum rate is available only when the applicable requirements are met. Refer to the product details and account disclosures for the calculation method.
‡Monthly account fees and other charges
Where a savings account has no monthly account fee, this refers to the monthly account maintenance fee only. It does not mean that all transactions and services are free. Charges may apply to withdrawals, debit transactions, Interac e-Transfers, branch-assisted services and transactions exceeding the account’s included allowance.
Additional charges may apply for services such as printed statements, bank drafts, wire transfers, returned items and withdrawals at non-participating ATMs. See the applicable account details and YNCU’s Fee Schedule for included transactions and current charges.
Deposits and transfers
Where unlimited deposits or eligible online transfers between your own YNCU accounts are included, this refers to the number of qualifying transactions. It does not include every type of withdrawal, transfer, debit purchase or payment without charge. Transfers to other members, other financial institutions or through Interac e-Transfer may have separate fees and limits.
Access to your savings
Access to funds is subject to available balances, deposit holds, transaction limits and the terms of your account. Flexible access does not mean that every withdrawal is immediate or free of charge. Certain savings products and registered plans have additional restrictions.
Account-specific requirements
Features and eligibility requirements vary by savings account. Minimum deposits, balance thresholds, maximum balances, limits on the number of accounts per member, deposit periods and withdrawal restrictions may apply. Review the details for the specific account you choose.
Automatic savings transfers
Scheduled transfers are subject to sufficient available funds in the source account, applicable limits and service availability. Charges may apply under the terms of the source or destination account. Setting up automatic transfers does not guarantee a particular savings balance or return.
Interac e-Transfers
Interac e-Transfer availability, fees and limits depend on your savings account and digital banking service. Interac e-Transfers are not automatically included without charge because an account has no monthly account fee. Applicable transfer limits and service terms apply.
Participating ATM access
Where available with your account and eligible debit card, surcharge-free ATM access applies at participating ATMs. Surcharge-free access refers to the ATM network or operator surcharge; account transaction charges may still apply. Withdrawals at non-participating ATMs may incur YNCU fees and ATM operator charges. ATM locations and availability may change.
Online account opening
Online account opening is available to eligible applicants and account types and is subject to successful identity verification. Completion times vary. Additional information or assistance may be required before an account can be opened or used.
Digital banking
Digital banking features depend on your account, service enrolment and compatible devices and software. Internet or mobile connectivity is required, and your service provider’s charges may apply. Service interruptions and scheduled maintenance may affect availability. Applicable transaction limits and digital banking terms apply.
Registered accounts and tax benefits
A regular personal savings account is not automatically a registered account. To receive the applicable benefits of a TFSA, RRSP, FHSA, RESP or LIRA, funds must be held within the appropriate registered plan.
Registered plans are subject to their own eligibility requirements, contribution or transfer limits, withdrawal rules and applicable tax or pension legislation. Tax treatment depends on your circumstances and compliance with the relevant rules. Excess contributions and certain transactions may result in taxes or penalties. Government grants and incentives are subject to eligibility requirements and program limits and are not guaranteed.
LIRA funds are generally locked in for retirement and are subject to the pension legislation governing the transferred funds. The flexible-access features of a regular savings account do not override registered-plan or locked-in account restrictions.
*Deposit insurance
Eligible deposits payable in Canada in Canadian dollars are protected by the Deposit Insurance Reserve Fund administered by the Financial Services Regulatory Authority of Ontario (“FSRA”), subject to its coverage rules.
Basic coverage for eligible non-registered deposits is up to $250,000 per depositor at YNCU, including principal and interest combined. Eligible deposits held in the same ownership category are combined when determining coverage; opening additional accounts or holding deposits at different YNCU branches does not create separate coverage.
Separate coverage may apply to qualifying joint and trust accounts under FSRA’s rules. Eligible deposits in registered accounts have unlimited coverage. This protection applies to eligible deposits, not to every investment that may be held within a registered plan.
Foreign currency deposits, including U.S. dollar savings accounts, membership shares, mutual funds and securities are not covered. Deposit insurance does not protect against fraud, unauthorized transactions or loss of purchasing power. FSRA’s liability to insure deposits is limited to the assets of the Deposit Insurance Reserve Fund.
Visit FSRA’s deposit insurance page for complete coverage details and exclusions.
Financial information and articles
Articles and educational content are provided for general information and do not constitute financial, investment, tax or legal advice specific to your circumstances. Examples are illustrative and do not guarantee future results. Consult an appropriately qualified professional when making decisions about your savings or registered plans.
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