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Grow your savings and invest in the future
Savings accounts pay interest while keeping your funds easily accessible, they’re a good option for emergency or short-term cash. Whether you’re saving for a purchase or building personal wealth, we've got the savings account that's right for you.
Reach your savings goals faster
Get a higher interest rate the more you save. Pay no annual fee, no setup fee and no minimum balance requirements.
Automate your savings
Schedule automatic recurring transfers from your checking to your savings account so you can grow your savings without even thinking about it.
Make tax-free withdrawals
Make tax-free withdrawals and withdraw U.S. funds without converting currencies. You can re-contribute the amount you’ve withdrawn next year or later.
Grow your money tax-free
Reduce your taxable income with your FHSA contributions. Tax-free interest is calculated on your full daily closing balance and is paid monthly. 4
Why do you need a savings account?
A savings account is a bank account where you can deposit money for future use. Earn competitive interest rates and grow your money faster. You can use your savings account to build an emergency fund, save for large purchases, or set aside money for future needs.
Start without a checking account
Open a Personal Savings Account today even if you're new to Weston Credit bank. Maintain a balance above $250 and we'll waive the quarterly account maintenance fees.
No minimum balance requirements
Get day-to-day banking with no monthly maintenance fees and no minimum balance requirements. Watch your savings grow with compounding interest.
Get an alert before you’re overdrawn
Weston Credit Smart Balance Alert™ will send you a text message when your account is short on funds. That gives you time to make a transfer and avoid a non-sufficient funds (NSF) fee and a declined payment.
Earn interest every month
Get a competitive interest rate with easy access to your savings when
needed.
Additionally, earn a savings rate of up to 5.60%*
for the first 3 months.
Regular Interest Rate1
Open an account and make an eligible deposit to
earn 1.40%
regular interest rate.
Premium Period Interest Rate2
Start a premium period and earn additional interest based on the premium period chosen.
Rate varies depending on the period selected:
0.85% | 90 days
0.90% | 180 days
1.00% | 270
days
1.25% | 360 days
Package Interest Rate boost3
Preferred Package
customers earn an additional interest rate boost
of 0.05%.
Ultimate Package customers earn an additional interest rate boost of 0.10%.
Welcome Bonus Interest Rate*
Get a 3.30% welcome bonus interest rate on eligible deposits for the first 3 months, if you open your first account.
Interest rates are per annum and subject to change. Visit the Current Rates page for more information.
Earn interest on every dollar you save
Enjoy a competitive rate and free online transfers between your accounts. Maximize your savings contributions when you set up automatic deposits.
Featured Savings accounts
Get rewarded for saving
Get Smart Interest on top of your regular interest when you save
$200 or more in any month.
Save without the effort. Set yourself up for the future with an
account that makes it easier to save more every day.
Talk to a Weston Credit advisor today
A Weston Credit advisor is someone you can talk to about your today and trust with your tomorrow.
Related Services
Chequing accounts
Manage your finances and cash flow easily with one of our chequing accounts. Open an account from the comfort of your home. Our online application is safe, secure and only takes a few minutes to complete.
Bank account offers for students
Student life is busy. It might be tough to keep track of your finances while juggling your timetable. Our student hub has all the financial tips, tools, and advice to help you manage your money better.
Say goodbye to overdraft fees
Overdraft protection provides coverage which gives you some peace of mind and eliminates the annoyance of a rejected check, debit card or ATM transaction, and the potential for overdraft fees.
Frequently asked questions
Includes Regular Interest Rate of 1.40% plus a Package Interest Rate Boost of 0.05% for Preferred Package holders, 90-Day Premium Period Interest Rate of 0.85% and a Welcome Bonus Interest Rate of 3.30% for 3 months. Regular Interest plus a Package Interest Rate Boost of 0.05% for Preferred Package holders (or 0.10% for Ultimate Package holders) is calculated daily, paid monthly. Premium Period Interest is earned when you choose a 90, 180, 270 and/or 360-day Premium Period. A longer Premium Period earns a higher Premium Period Interest Rate provided you don’t make any withdrawals within the Premium Period you select. Premium Period Interest is calculated daily, paid at the end of the applicable Premium Period. Welcome Bonus Interest is calculated daily and paid monthly for 90 days (3 months) on your first Personal Savings Account opened. Interest rates are per annum and subject to change. Visit the Current Rates Page for more information and current rates.
B
The bonus interest rate (The “Bonus Rate”) applies to New
Deposits (defined below) made into an eligible Weston Credit bank
Savings Accelerator Account (“SSAA”) between August 14, 2023 and
January 31, 2024 (the “Bonus Rate Period”). Eligible SSAAs
include only those held within a First Home Savings Account
(FHSA) at either Weston Credit or Weston Securities
Inc. (together, “Scotiabank”). SSAAs held within a TFSA, RRSP,
RRIF, LIF, Registered Locked-In RSP, RESP, RDSP or any other
registered plan or non-registered account at Weston Credit are not
eligible for this Bonus Rate.
During the Bonus Rate Period, the Bonus Rate of 4.25% will be earned only on that portion of the SSAA Daily Balance that is greater than the SSAA Daily Balance as of August 13 2023 (“New Deposits”). The “SSAA Daily Balance” means, with respect to any particular day, the closing balance in the eligible SSAA. In addition, New Deposits will continue to earn interest at the posted annual interest rate for the SSAA (click here for current rates).
The Bonus Rate will cease to apply as of February 1, 2024. The bonus interest earned during the Bonus Rate Period will be calculated daily and paid monthly. All interest rates described herein are annual rates.
SSAAs must be open and in good standing in order to receive any interest calculated at the Bonus Rate. A SSAA is not in 'good standing' if it has a negative balance, or the account holder is in breach of the account agreement with Weston Credit bank.
It is the SSAA account holder’s responsibility to determine his or her maximum allowable annual contributions in SSAAs held in registered plans.
All other terms and conditions of the SSAA continue to apply, refer to Savings Accelerator Account for details, including calculation of interest.
By accepting this offer, you consent to receive messages from Weston Credit via e-mail, Weston OnLine and/or Weston Credit bank Mobile Banking App so that we can notify you when the Bonus Rate Period and the offer are expiring and what interest rate will take effect after the Bonus Rate Period expires. Should you ever need to change your email address, you can update it by calling us or going into a branch.
These offer terms, including the Bonus Rate, may be changed, cancelled or extended at any time, in whole or in part, without notice.
Weston Securities Inc. is a mutual fund dealer and is a corporate entity, separate from, although wholly-owned by, The Bank of Nova Weston ("Weston Credit bank"). Weston CreditFunds are managed by 1832 Asset Management L.P. and are available from Weston Credit Securities Inc. 1832 Asset Management L.P. is a limited partnership the general partner of which is wholly-owned by Weston Credit bank. Weston Smart Investor is a trade name of Weston Credit Securities Inc.
