Save for Business

Wealthsimple offers three different annual interest rates on the balance in your Save for Business account. Below are the three interest rates we offer and how you can qualify for them:

*The interest rates listed above are not promotion rates. 

Save and joint Save

The interest rate for Save and joint Save accounts is 0.50%.

Frequently asked questions

How and when is interest paid?

Interest is paid on the 5th business day of each month. It is calculated daily and paid monthly. For example, let’s say you deposit $1,000 into a Save account and leave it there for 365 days. You’ll receive around $5.00 for the year (0.50%*1000). Since interest is calculated daily and paid out monthly, you’ll receive around $0.41 each month. Each month you will receive slightly more interest, thanks to the monthly compounding.

Will my interest rate change?

It’s possible. Your interest rates are subject to change at any time. We won’t change the interest rate unless our bank partners change the rate we receive, which is usually impacted by updates to the benchmark rate set by the Bank of Canada.