Meridian High Interest Savings Account (HISA)

2.9/5 our rating

Open account

Opens Meridian's website

Interest rate: 0.85%
Interest in a year: $85; on $10,000, estimated
Monthly fee: $0

Overview

Meridian's high interest savings account pays one flat rate on every dollar, with no monthly fee. It's convenient for Ontario residents who already bank with Meridian and want their savings in the same place. The rate beats a basic savings account but falls well behind the online banks.

Interest rates

All balances*
0.85%

What you could earn in a year

$1,000

$5,000

$10,000

$25,000

$50,000

$85

in interest on $10,000 over 12 months

An estimate: it assumes today's rates hold for the year, interest compounds monthly, and any fee that can be waived is waived.

Fees

Account fees

Monthly fee

eStatement

Included

Highlights

Earn 0.85% in interest on all balances* in the account
Available for non-registered accounts, TFSAs, RRSPs, FHSAs and RRIFs
No minimum balance needed
No limit on self-serve or in-branch transactions^{1, 2}
$1.00 per Interac e-Transfer in non-registered accounts

Legal

¹Self-serve transactions - include Interac® Direct Payment purchases and ATM withdrawals. Bill payments and pre-authorized debit transactions are not available on savings accounts.

²In-branch transactions - include all in-branch withdrawals, bank drafts and outgoing wire transfers.

³Account fees, rates and services subject to change without notice. HST included.

*Interest rates shown are subject to change without notice and are on a per annum basis. Interest is calculated on the closing daily balance and is paid on the last day of each month.