Wealthsimple Save

2% high interest savings

A smarter way to save

Earn 2% interest

A smarter savings account with higher interest than the big banks. No introductory rates, limited-time offers, or expiries. The rate is the rate, period.

Reach your next milestone

Wealthsimple Save is a perfect place to keep money for emergency expenses, a down payment, or your next vacation. And it integrates seamlessly with your other Wealthsimple accounts on our website and mobile app.

No extra fees or penalties, ever

  • Unlimited free transactions: Never pay fees for transfers or withdrawals

  • No account minimum: Start with as little as $1

  • No low balance fees: No penalties ever

  • Over $4B and counting - More than 150,000 people trust over $4 billion with Wealthsimple companies

  • Everything is encrypted - We use state-of-the-art data encryption when handling your financial information and two-factor authentication (2FA) protection

  • CDIC insured - Through our partners, your account is insured up to $1,000,000 by the Canada Deposit Insurance Corporation

  • Powerful backing - Wealthsimple is backed by $265M in investment from some of the world's largest financial institutions

We keep your money safe

Your security and trust are important to us. We're committed to protecting your account with the highest standards of security available.

Benefits and pricing

Clock

Start saving in 5 minutes

  • Set up your account
  • Make a deposit
  • Earn higher interest

Clicking get started accepts terms of use.

FAQs

For individual Wealthsimple Save accounts, you can have a balance up to $1,000,000. If you would like a larger limit, contact our support team for more details.

Yes, and we won't charge you for any withdrawals. It can take up to 2 business days to withdraw your Wealthsimple Save contributions. We're constantly working on improving the speed of withdraws so you can have access to your money faster.

Great question. The Canada Deposit Insurance Corporation (CDIC) is a crown corporation that insures eligible deposits held at Canadian member institutions in case of a member institution failure (also called a default). In the unlikely case that a member institution holding your Wealthsimple Save contributions were to default, your eligible contributions can be protected up to $1,000,000 for a Save account, and $500,000 for a joint Save account through our multiple CDIC member institutions. You can learn more about CDIC insurance and eligible deposits on their website.

CDIC insures up to $100,000 of eligible deposits per client per member institution within each insured category. Wealthsimple Save allows you to split your eligible contributions between multiple CDIC member institutions, giving you up to $1,000,000 of CDIC insurance coverage for a Wealthsimple Save account, and $500,000 for a joint Wealthsimple Save account. You can learn more about CDIC insurance on their website.

CDIC coverage limits apply to all your eligible deposits with a member institution, including any that you have made directly in the same insured category. If you let us know where you have other deposits in the same insured category, we can invest anything over $100,000 in another CDIC member institution.

Our Wealthsimple Save deposits can be held within Toronto Dominion Bank, Royal Bank of Canada, Bank of Nova Scotia, Canadian Imperial Bank of Commerce, ADS Canadian Bank, National Bank of Canada, Equitable Bank, and B2B Bank. You can learn more about the complete list of CDIC member institutions here.

Yes, we automatically split your deposits between multiple CDIC member institutions to increase your coverage. CDIC coverage limits apply to all your eligible deposits with a member institution, including any that you have made directly in the same insured category. If you let us know where you have other deposits, we can investing anything over $100,000 in another CDIC member institution.