Grow your money faster with High Interest Savings
A high-interest savings account for money you want to earn interest and grow while keeping it within reach.
Great rates that increase at $5,000- Unlimited deposits included
Trusted by 65K+ members
FSRA insured up to $250,000
Monthly account fee
$0
Minimum deposit
$0
What is a High Interest Savings account from YNCU?
A High Interest Savings account helps you earn a higher rate on money you set aside, while keeping it available when needed. YNCU High Interest Savings is a good fit for larger balances, future plans, or savings kept separate from everyday spending.
GrowEarn a higher rate on larger balances
Earn a higher interest rate when your High Interest Savings account balance reaches $5,000.- Keep larger savings, future plans, or backup money in one place while it earns more.
- Hit your savings goals faster by holding more savings here.
SaveStay focused on your goals
- One included transaction, transfer, or withdrawal each month gives you access when you need it.
- Fewer everyday withdrawals can help keep your savings separate from daily spending.
- A good fit for goal money you want to grow, protect, and use with more intention.
AccessibleKeep your money accessible
- Keep your savings available when plans change or something unexpected comes up.
- Access your money without waiting for a term to end or locking it into a GIC.
- A practical place for goal money that still needs to stay within reach.
Reach your savings goals faster
Supercharge your savings by pairing YNCU High Interest Savings with a registered account that fits your goal. From retirement to education to your first home, the right account can help you make use of available tax advantages while your money grows.
RRSP
Learn more about RRSPPut your long-term savings inside an RRSP to help build for retirement while taking advantage of tax benefits.
TFSA
Learn more about TFSAUse a TFSA to keep savings separate from everyday spending—and grow tax-free while still enjoying flexible access to your money.
FHSA
Learn more about FHSAPutting your savings inside an FHSA can help eligible first-time home buyers save for a down payment—with added tax benefits.
RESP
Learn more about RESPGive your child a leg-up by saving for their education with tax-deferred growth and access to government grants for eligible members.
LIRA
Learn more about LIRAA LIRA keeps locked-in pension money set aside and earning interest until it can be used for retirement income.
A quick look at High Interest Savings account rates and fees
We've broken down our interest rates, monthly fees, and transaction details to help you decide if this is the right account to grow your savings and reach your goals faster. See all fees here.
| Features | High Interest Savings |
|---|---|
| Monthly fee | $0 |
| Minimum balance for highest rate | $5,000 |
| Interest | Paid monthly at posted rate |
| Included transactions | One free debit transaction, transfer, or withdrawal per month |
| Additional transactions | $2.25 |
| Interac e-Transfer | $2.25 |
| ATM withdrawals at Exchange Network ATMs | Free |
| Non-Exchange Network ATM withdrawals in Canada | $2 |
| ATM withdrawals outside Canada | $3 |
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Open a High Interest Savings account online in minutes
Become a YNCU member from the comfort of your own home
Security, always with you
YNCU helps protect your account with digital safeguards, fraud prevention support, and FSRA to insure your first $250,000.
Access over 4,700 no-fee ATMs across Canada
With YNCU, you don't have to worry about ATM fees because you have access to thousands of no-fee ATMS from coast-to-coast
Wait, my savings can earn even more?
Commonly asked questions
A YNCU High Interest Savings account is best for members who keep a higher savings balance and want to earn a higher posted rate without locking their money in for a set period of time.
You need a $5,000 minimum monthly balance to receive the best available rate for this product. Balances over $5,000 earn a higher interest rate.
No. Your money is not locked in. You can access your savings when you need to, but this account is designed more for saving than frequent everyday transactions.
The account includes one free debit transaction, transfer, or withdrawal each month. Additional transactions are $2.25.
A regular Savings account is a flexible place to set money aside and access it more often. A High Interest Savings account is better for larger balances you want to grow at a higher posted rate, while still keeping access to your money.
Yes. YNCU is an Ontario credit union. Eligible non-registered deposits, including savings accounts, are insured up to $250,000 through FSRA. Eligible registered deposits have unlimited FSRA coverage.
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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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