Bonus Savings Interest Rates

Several institutions are offering short term savings rate bonuses on high interest savings accounts, typically sometimes on-line accounts.  Here are the offerings, terms and conditions from a few banks.

CIBC eAdvantage Savings Account let you earn 2.0% interest on new deposits when your balance is $5,000 or more.  Online transfers to other CIBC personal accounts are FREE as are most transactions except sending INTERAC e-Transfers and Non-CIBC bank machine withdrawals ($1.50 fee each).  New deposits mean you can't just transfer money in and out again.  You earn this bonus interest until March 31.

Tangerine has a special offer on Savings Accounts.  You cane earn 2.5% interest until March 31 on new deposits to a Tangerine Savings Account, Tangerine RSP Savings Account or Tangerine Tax-Free Savings Account.  The normal savings interest rates are:

Tangerine Savings Account, Tax-Free Savings Account, RSP or RIF Savings Account, US$ Savings Account 0.25%, Tangerine Children’s Savings Account 1.50%.

Want more? Use this Orange Key 40132831S1 and get a $50 when you become a Tangerine saver, plus an additional $25 Bonus you set up an Automatic Savings Program (ASP) into a Tangerine Savings Account.

Not interested in Bonuses? Other institutions offer just over 2% on a permanent basis - check out this list: Best Canadian Savings and TFSA Rates