National Bank High Interest Savings
As of October 22, 2026, the National Bank High Interest Savings pays 0.55% interest on savings.
CDIC insuredRates verified October 22, 2026
Calculate your National Bank interest
Conditions: None; interest paid monthly, no fixed monthly fees
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Key account terms
A competitive savings option from National Bank of Canada, often via their direct banking arm.
- Monthly fee
- $0
- Minimum deposit
- $500
- Transactions
- Restricted
- Transfer speed
- 1-3 Days
Pros and considerations
What we like
- Competitive Big Six posted yields
- Professional portfolio management
- CDIC deposit protection
Watch out for
- Often requires investment account
- Less accessible for daily banking
- Fees may apply
Frequently Asked Questions
Everything you need to know about National Bank's savings rates, terms, and account features.
Is this a standard bank account?
It is often held within a brokerage or direct investing account structure.
Is National Bank deposit-insured and safe?
Yes. With National Bank, eligible deposits are insured up to $100,000 per category by the Canada Deposit Insurance Corporation (CDIC). This protection guarantees that your principal deposit and accumulated interest remain safe against institutional failure.
How is interest calculated and paid on the National Bank High Interest Savings?
Interest is calculated daily based on your account's closing balance and deposited directly into your balance on the final business day of each month, compounding your yield monthly.
Can I withdraw my money from National Bank at any time?
Yes. Unlike a GIC (Guaranteed Investment Certificate) which locks in funds for a predetermined duration, this high-interest savings account offers complete liquidity. You can transfer money out at any time without penalty or loss of earned base interest.
How is interest earned at National Bank taxed in Canada?
In non-registered accounts, interest earned is treated as regular taxable income by the Canada Revenue Agency (CRA). National Bank will issue a T5 tax slip if your annual interest exceeds $50 (or upon request for lower amounts). If held inside a TFSA, interest is 100% tax-free.
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