Our current interest rate for your first $100,000
See our most up to date interest rate.
What happens to my interest rate after $100,000?
To protect your money with us, we split your contributions with other CDIC member institutions every $100,000 increment, up to $1,000,000 for a Smart Savings and $500,000 for a Joint Smart Savings. After your first $100,000, you'll see a weighted average that makes your varied interest rate. You'll see the exact interest rate in your Wealthsimple account.
Below are the interest rates for our CDIC member institutions we deposit with. Interest rates are subject to change at any time.
Renaissance High Interest Savings
RBC Investment Savings
RBC Investment Savings (RBMC)
Altamira Cash Performer
Bank of Nova Scotia Investment Savings
ADS Canadian Bank Investment Savings
TD Investment Savings
TD Investment Savings (TDMC)
Last updated Feb 15, 2019. For the most up to date rates, contact our support team.
For clarification, your interest rate isn't tiered. If you have an account with $100,005, your first $100,000 will have the highest rate from the above list and the $5 will be on the second highest rate. Your exact interest will be weighted against your total account value and shown in your Wealthsimple account.
Why does my interest keep changing?
The institution holding your investment savings accounts (ISA) changes the interest rate they offer. This happens quite infrequently, but it can go up or down.
Will my interest go down?
Yes, your interest rates are subject to change at any time. We won't move your interest down unless the ISA in our Smart Savings product list lowers their rate and we don't have a better option. This typically happens when the Bank of Canada announces an interest rate decrease, and all the banks and financial institutions respond to decrease the interest rates they offer.
How often will my interest change?
In short, it depends. To add more clarity, it's because the banks control the interest rates. When the Bank of Canada makes a change to the interest rate, the other Canadian banks and financial institutions follow.
How is interest paid?
Interest is calculated daily and paid monthly, usually within the first week of the following month.