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Savings calculator

Monthly compounding in CAD. Type the rate from a written offer — we do not invent a market average.

Balance after 5 years
$60,000
Balance after 5 years
$60,000
You put in
$60,000
Interest earned
$0
Protected amount
$100,000

CDIC coverage covers deposits per person, per institution. Balances above that limit are best split across institutions.

Cost breakdown
You put in$60,000Interest earned$0(0%)
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1

Coast Capital Savings

  • Lowest APR
8.74.4(1)
Savings rate
3%–3.5%
≈ $300/yrinterest on $10,000, before tax
Deposit
n/a
  • Free withdrawals
  • FCAC
Open account
Full review

Illustration at the lowest listed rate on a round deposit for one year, before tax; rates are variable unless the account is fixed.

Example

Anyone living in Canada outside Quebec can apply for membership. Approved members buy $5 in Membership Equity Shares (a one-time investment, not a fee). Mortgage and personal-loan rates are not posted on the public site. Homepage GIC specials: 3.50% on a 2-year non-redeemable GIC and 3.00% on a 1-year redeemable GIC (net-new deposits). Source: coastcapitalsavings.com membership details and homepage, 2026-08-27.

2

BMO Savings Amplifier

  • Highest score
8.84.4(1)
Savings rate
—
Deposit
n/a
  • Free withdrawals
  • FCAC
Open account
Full review
Example

Product availability and eligibility are determined by the provider. Check the provider’s current terms before applying. We do not receive commission on this link.

3

BMO Savings Builder

  • Highest score
8.84.4(1)
Savings rate
—
Deposit
n/a
  • Free withdrawals
  • FCAC
Open account
Full review
Example

Product availability and eligibility are determined by the provider. Check the provider’s current terms before applying. We do not receive commission on this link.

Coast Capital: Anyone living in Canada outside Quebec can apply for membership. Approved members buy $5 in Membership Equity Shares (a one-time investment, not a fee). Mortgage and personal-loan rates are not posted on the public site. Homepage GIC specials: 3.50% on a 2-year non-redeemable GIC and 3.00% on a 1-year redeemable GIC (net-new deposits). Source: coastcapitalsavings.com membership details and homepage, 2026-08-27.

Bank of Montreal: Product availability and eligibility are determined by the provider. Check the provider’s current terms before applying. We do not receive commission on this link.

This calculator compounds a starting balance and a regular payment at a rate you type. The rate is an assumption, not a quote from a Canada provider. It does not model every tax wrapper or every withdrawal rule.

Replace the rate with a written offer, then compare savings accounts and term deposits. Local wrappers: local tools. Protection: CDIC coverage. Tax treatment: tax wrappers and savings.