1.MomentumPLUS Savings Account
Scotiabank
4.05%
Earn up to $1,500 in first year welcome offers, rewards and savings.
CA$0
N/A
The MomentumPLUS Savings Account stands out as the top choice because it offers a competitive welcome bonus interest rate of 4.05% for the first three months, alongside zero monthly fees. This combination of high yield and no costs makes it an exceptional option for savers looking to maximize their returns.
Pros:
- High promotional interest rate
- No monthly fees
Cons:
- Limited time offer
4.60%
CA$0
N/A
What sets the RBC High Interest Savings Account apart is its impressive interest rate of 4.60% for the first three months, making it a strong contender for those seeking high returns on their savings. This account is particularly appealing for new customers looking to take advantage of promotional rates.
Pros:
- Attractive interest rate
- No monthly fees
Cons:
- Limited promotional period
3.No Fee Chequing Account
Simplii Financial
N/A
Earn $300 and a $50 Skip gift card when you open a No Fee Chequing Account.
CA$0
N/A
This account shines for its straightforward no-fee structure and the enticing welcome bonus of $300 plus a gift card, making it an excellent choice for those who want to avoid monthly charges while enjoying additional perks.
Pros:
- No monthly fees
- Attractive welcome bonus
Cons:
- Limited branch access
Final Words
In summary, while August 2026 may not showcase specific savings account bonuses in Canada, exploring options among digital banks and hybrid accounts can still yield attractive promotions with $0 monthly fees and free transactions. Be sure to compare different offers to find the best fit for your financial needs.
Frequently Asked Questions
The interest rate for the High Interest Savings Account is 4.60%.
No, the MomentumPLUS Savings Account has a monthly fee of CA$0.
The No Fee Chequing Account has no interest rate and a monthly fee of CA$0, allowing for free everyday transactions.
As of August 2026, no verified Canadian savings bonuses have been found. However, many digital banks and hybrid accounts offer $0 monthly fees.
Yes, traditional big-five banks like Scotiabank and RBC often have promotions, such as earning up to $1000 when bundling certain accounts.
While no verified cash bonuses were found for savings accounts, some accounts may have promotional offers depending on the bank or account type.
Several Canadian digital banks and hybrid accounts offer no monthly fees, including the MomentumPLUS Savings Account and High Interest Savings Account.
To fulfill direct deposit requirements for bank bonuses, you typically need to set up recurring deposits from your employer or another source into your account.
