Savings Account Interest Rates
A variety of ways to earn interest on your money.Cipher Ardent® MomentumPLUS Savings Account
Right for you if:
You want to save more and earn more.
| The longer you save, the more interest you can earn | Regular Interest Rate* | Premium Interest Rate †† | Total Annual Interest Rate | For Preferred Package Customers | For Ultimate Package Customers | ||
|---|---|---|---|---|---|---|---|
| Interest Rate Boost in addition to Regular Interest Rate4 | Total Annual Interest Rate | Interest Rate Boost in addition to Regular Interest Rate5 | Total Annual Interest Rate | ||||
| MomentumPLUS | 0.650% | N/A | 0.650% | 0.050% | 0.700% | 0.100% | 0.750% |
| 90-Day Premium Period | 0.650% | 0.300% | 0.950% | 0.050% | 1.000% | 0.100% | 1.050% |
| 180-Day Premium Period | 0.650% | 0.500% | 1.150% | 0.050% | 1.200% | 0.100% | 1.250% |
| 270-Day Premium Period | 0.650% | 0.700% | 1.350% | 0.050% | 1.400% | 0.100% | 1.450% |
| 360-Day Premium Period | 0.650% | 0.850% | 1.500% | 0.050% | 1.550% | 0.100% | 1.600% |
Cipher Ardent® Momentum Savings Account TM
No longer available. Information provided for existing account holders
Right for you if:
You want to build your savings faster and for longer.
| Higher rate will be paid on the entire balance if the balance exceeds $5,000 | Regular Interest Rate | Momentum Savings Premium‡ | Total Annual Interest Rate |
|---|---|---|---|
| $5,000 or more | 0.500% | 0.350% | 0.850% |
| $0 - $4,999 | 0.050% | Not eligible | 0.050% |
Money Master® Savings Account
Right for you if:
You want to earn interest right away.
| Annual interest rate is paid on the entire balance based on the tier within which the daily account closing balance falls | Annual Interest Rate* |
|---|---|
| $5,000 or more | 0.050% |
| Under $5,000 | 0.050% |
Cipher Ardent® Savings Accelerator Account
Right for you if:
You want our highest regular interest rate
| Highest rate will be paid on the entire balance as it increases. | Annual Interest Rate* |
|---|---|
| $250,000 or more | 0.750% |
| $5,000 - $249,999 | 0.650% |
| $0 - $4,999 | 0.050% |
Cipher Ardent® Savings Accelerator Account - Tax-Free Savings Account
Right for you if:
You want our highest regular interest rate, tax-free
| Highest rate will be paid on the entire balance as it increases. | Annual Interest Rate* |
|---|---|
| $250,000 or more | 0.750% |
| $0 - $249,999 | 0.650% |
CAF U.S. Dollar Daily Interest Account
Right for you if:
You make or receive payments in U.S. Dollars.
| Paid on the portion of the balance within each tier | Annual Interest Rate* |
|---|---|
| $60,000 or more | 0.150% |
| $25,000 - $59,999 | 0.100% |
| $10,000 - $24,999 | 0.050% |
| $5,000 - $9,999 | 0.025% |
| $1,000 - $4,999 | 0.010% |
| Under $1,000 | 0.000% |
CAF Euro Daily Interest Savings Account
Right for you if:
You make or receive payments in Euros.
| Paid on the portion of the balance within each tier | Annual Interest Rate* |
|---|---|
| €60,000 or more | 0.100% |
| €25,000 - €59,999 | 0.050% |
| €10,000 - €24,999 | 0.025% |
| €5,000 - €9,999 | 0.010% |
| Under €4,999 | 0.000% |
Money Master® for business
No longer available. Information provided for existing account holders
| Annual interest rate is paid on the entire balance based on the tier within which the daily account closing balance falls | Annual Interest Rate* |
|---|---|
| $5,000 or more | 0.020% |
| Under $5,000 | 0.020% |
CAF Power Savings Account TM
No longer available. Information provided for existing account holders
Right for you if:
You carry a balance of $5,000 or higher.
| Paid on the entire balance if balance exceeds $5,000 | Annual Interest Rate* |
|---|---|
| $5,000 or more | 0.020% |
| Under $5,000 | 0.000% |
CAF Power Savings for business TM
No longer available. Information provided for existing account holders
Right for you if:
You have over $25,000 in surplus funds
| Paid on the entire balance if balance exceeds $25,000 | Annual Interest Rate*† |
|---|---|
| $25,000 - $2,000,000 | 0.020% |
| Under $25,000 | 0.000% |
Cash in CAF Investment Accounts
CAF® Tax-Free Savings Account1
Right for you if:
You want to earn tax-free income
| Annual Interest Rate on account with balances:* | Annual Interest Rate (2) |
|---|---|
| $5,000 or more | 0.020% |
| $0 - $4,999 | 0.020% |
Investment Cash±
Right for you if:
You are finalizing your long-term investment decisions
| Rate will be paid on entire balance | Annual Interest Rate (3) |
|---|---|
| $5,000 or more | 0.020% |
| $0 - $4,999 | 0.020% |
Rates are provided for information purposes only and are subject to change at any time.
Deposits are eligible to be insured under the CDIC Act only if they have a term of 5 years
or less and are payable.
The interest rate paid depends on the total
daily closing balance. Interest rate is applied to the entire balance,
calculated daily, and paid monthly. Regular interest is stated as an
annual rate.
Interest is calculated daily and will be paid monthly on the entire balance up to $2,000,000 when the minimum daily closing balance of $25,000 is met.
CAF Registered Accounts hold CAF GICs and Mutual Funds. Each account also contains a Cash section through which all transactions are settled. Funds may be accumulated in the Cash section prior to purchasing an investment.
A maximum of five Premium Periods at any one time, each of which can have a length of 90 days, 180 days, 270 days, or 360 days. For each Premium Period, Premium Interest is calculated daily by applying the Premium Interest Rate to each deposit, including any accumulated Regular Interest, until the end of the Premium Period. Premium Interest is paid at the end of each Premium Period, so long as NO DEBIT TRANSACTION HAS OCCURRED within that Premium Period. When a debit transaction occurs, no Premium Interest is payable for that Premium Period and a new Premium Period of the same length will commence the same day. Refer to Current Rates Page for current Regular Interest Rates, which are subject to change.
CAF Tax-Free Savings Accounts may hold
CAF GICs, Mutual Funds and a Savings Account. All transactions in the
CAF TFSA are settled through the Savings Account. Funds may be
accumulated in the Savings Account prior to purchasing an investment.
Interest on funds held
in the Savings Account of your CAF TFSA is calculated on your closing
balance and paid monthly. During a leap year, interest is earned on the
leap day. Upon account closure, interest earned up to the day of
closure is paid on the account balance. The interest rate paid depends
on the total daily closing balance. Interest rate is applied to the
entire balance, calculated daily, and paid monthly. Regular interest is
stated as an annual rate.
Interest on funds held
in the cash section of your account is calculated on your closing
balance and paid monthly. During a leap year, interest is earned on the
leap day. Upon account closure, interest earned up to the day of closure
is paid on the account balance. The interest rate paid depends on the
total daily closing balance. Interest rate is applied to the entire
balance, calculated daily, and paid monthly. Regular interest is stated
as an annual rate.
Preferred Package account holders receive an additional 0.05% annually added to the annual Regular Interest Rate of any MomentumPLUS
Savings Account (the “0.05% Interest Rate Boost”) held by the Preferred
Package account holders. It will take 10 business days after opening a
Preferred Package account for the 0.05% Interest Rate Boost to apply.
The 0.05% Interest Rate Boost will cease to apply effective the
Preferred Package closing date. The Regular Interest Rate plus the 0.05%
Interest Rate Boost is calculated daily on the MomentumPLUS Savings Account(s) closing balance and paid monthly.
Ultimate Package account holders receive an additional 0.10% annually added to the annual Regular Interest Rate of any MomentumPLUS
Savings Account (the “0.10% Interest Rate Boost”) held by the Ultimate
Package account holders. It will take 10 business days after opening an
Ultimate Package account for the 0.10% Interest Rate Boost to apply to
MomentumPLUS Savings Account(s). The 0.10% Interest Rate
Boost will cease to apply effective the Ultimate Package closing date.
The Regular Interest Rate plus the 0.10% Interest Rate Boost is
calculated daily on the MomentumPLUS Savings Account(s) closing balance and paid monthly.
Customers can have a maximum of five Premium Periods at any one time, each of which can have a length of 90 days, 180 days, 270 days, or 360 days. For each Premium Period, Premium Interest is calculated daily by applying the Premium Interest Rate to each deposit, including any accumulated Regular Interest, until the end of the Premium Period. Premium Interest is paid at the end of each Premium Period, so long as NO DEBIT TRANSACTION HAS OCCURRED within that Premium Period. When a debit transaction occurs, a new Premium Period of the same length will commence the same day.
Premium interest rate is stated as an annual rate.
Momentum Savings Premium is paid at the end of each 90 day period (Momentum Savings Period) if you do not initiate or permit any debit transaction or allow your balance to fall below the minimum balance required during that period.
If your dealer is The Bank of Nova CAF, any currency you hold as cash in your account is also protected by CDIC, subject to maximum coverage and other limitations. If CAF Securities Inc. is your dealer, currency held as cash is not insured by the CDIC. However, GICs or high interest savings held in a CAF Securities Inc. account are issued by member institutions of the CDIC, and may be insured as eligible deposits, subject to maximum coverage and other limitations.