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Registered savings account
The account that lets you grow tax-sheltered savings, risk-free and fee-free.
Interest rates that grow with your assets
ENDS DECEMBER 16
Choose iPhone, Mac, or both
Just register then transfer or deposit $100,000+ within 30 days. Terms and conditions apply.
See how a registered savings account stacks up
Registered savings account | Chequing account | |
|---|---|---|
| What is it | Registered savings account | Chequing and savings account |
| Great for | Short- and medium-term goals | Everyday finances |
| Benefits | Tax-sheltered, fully liquid | Fully liquid |
| Contribution limits | Dependent on account type | None |
Smarter than a regular savings account
Earn without lifting a finger
Keeping your nest egg in a registered account earns you more than your standard savings account — and with no extra effort.
Grow your money tax-free
With a registered savings account, no matter what account type you choose, your money is completely tax-free until the time comes to withdraw it.
No minimum balance
Unlike some regular savings accounts, you won’t need to maintain a minimum amount in your account to earn interest.
Your registered savings account by the numbers
100%
The amount you can withdraw at any time from your registered savings account. Unlike GICs, your cash is never under lock and key.
Three
The number of account types you can open your registered savings account as. Choose from a TFSA, RRSP, or an FHSA.
$100,000
The total of your deposits eligible for CDIC coverage in each account type.
Zero
The catches and risks involved. Earn on your savings without the worry of stock market fluctuations, promotional rates, or fees.
Setting up is simple
Get started in minutes
Skip the bank appointments and paperwork. Opening your account and making contributions or withdrawals takes just a few taps.
Help from real people, any time
We’re ready to answer your questions 7 days a week, by phone, chat, or email.
Choose an account type to suit your goals
TFSA
A Tax-Free Savings Account is a flexible way to invest and save tax free. You can contribute a lifetime value of up to $102,000 and withdraw funds any time without any tax penalties.
RRSP
A Registered Retirement Savings Plan is a tax-advantaged account that allows you to contribute up to 18% of last year’s income, up to a max of $31,560 in 2024, to help reduce your tax bill.
FHSA
With a First Home Savings Account you can save up to $40,000 toward a down payment, tax-free. You can contribute up to $8,000 per year, with any unused limit carrying over to the next year.
Video showing the Wealthsimple app's account transfer process.
Move your account and we'll cover the fees
We'll automatically reimburse the transfer-out fees charged by your brokerage when you move at least $25,000 to us. Conditions apply.
Make your money make money
Open your account in just a few minutes — no paperwork, no branch appointments.