What is a savings account?
Compare savings accounts.
Choose the best savings account
Looking for investment options to help grow your savings with tax benefits and higher interest? View our registered accounts and plans for retirement, buying your first home, and more.
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Multiply your money
Earn higher interest to grow your savings while keeping your funds accessible for whenever you need them.
Build your future
Turn your dreams into reality. Whether you're saving for a new car, kitchen renovations, or a vacation, make it easy to set aside money for whatever comes next.
Keep your savings secure
Put your hard-earned cash somewhere you can trust and you know is safe. With ATB Financial’s Deposit Guarantee, all deposits are fully guaranteed by the Province of Alberta.
Frequently Asked Questions
Though the answer will vary from person to person, in general, a savings account is a good option for the short term, especially if you need easy access to your funds. An investment typically can grow your savings more over a longer period of time with the potential to earn a higher return. Some investments limit your access to your funds by requiring you to lock in the funds over a certain period of time.
Certain savings goals - like saving for your child's post-secondary education or saving for retirement - might be best served by specialized investment accounts like a Registered Education Savings Plan (RESPs) or a Registered Retirement Savings Plan (RRSPs). Even if you're not looking that far ahead, you might want to consider a Tax-Free Savings Account (TFSA). These investment accounts also offer varying tax benefits that can help you make the most of your savings.
Get answers to some commonly asked savings questions in our article ‘Is it time to start investing?’
You can sync your ATB savings account with Apple Pay, Samsung Pay or Google Pay™. However we don’t recommend it, since your savings account is designed for you to save (not spend). Plus, when you use your savings account for more than one transaction per month, there will be a $5 transaction fee each time. You’re better off using your chequing account or credit card for everyday transactions.
ATB offers the following savings accounts:
Whatever your savings goals, we offer a variety of savings accounts that feature flexible access, no monthly fees and higher interest rates that help you reach your savings goals faster. To better understand the best savings account for you, explore our Savings Account Selector Tool.
Here’s a quick breakdown of the difference between an ATB chequing and savings account:
- A chequing account is typically used for everyday transactions. It’s an account you use every day to buy and pay for things like gas, groceries, bill payments or make online purchases.
- A savings account helps you grow your money over the short and longer term. Typically this account isn’t used for daily transactions, but instead, it’s used to help you save for something in the future. Funds held in a savings account earn an interest rate but funds in a chequing account do not.
To find the right balance between spending and saving, explore our article: 'What’s your saving style?'
Yes, ATB savings accounts can be opened online. If you prefer to open an account in person, you can do so by visiting one of our branches.
An easy way to automate your savings is through a pre-authorized contribution (PAC), which is an automatic, recurring transfer of a pre-specified amount of money. It’s a great tool and easy way to help you grow a savings or investment account like an RRSP or TFSA. You can schedule PACs to occur how often you would like, for example, weekly, bi-weekly or monthly, and can specify the amount you’d like to be transferred each time. If you are an ATB client, this tutorial outlines how you can set up your own PAC.
For a full list of fees and service charges associated with personal savings accounts, please refer to the Additional Services & Associated Charges document.
In general, interest is calculated on the account’s daily closing balance and paid at the end of the month. Each savings account may offer different types of interest, it’s best to review our savings accounts to understand the different interest types, how they are calculated.
There is no minimum balance required for any of our savings accounts or registered savings accounts. If you’re opening an investment there may be a minimum investment.
Yes, ATB savings accounts can be opened as a joint account. Applications can be done online.
The repayment of money deposited with ATB Financial, and interest payable on that money, is guaranteed by the Province of Alberta.
Yes, any interest earned in a standard savings account is taxable. There are certain exceptions for registered savings accounts, like a Tax Free Savings Account and First Home Savings Account. Visit our Investing page to learn more about those accounts.
To understand the best savings account for you, explore our Savings Account Selector Tool.
You can find our best rates for savings accounts on our Savings Account Rate page.
Your savings roadmap
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Need help reaching your savings goals? Our expert advisors offer personalized financial advice to create a savings plan perfectly tailored to your life. We'll help you find the best account for you.
What’s your saving style?
Learn how you save and grow your savings knowledge to boost your financial confidence.
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Interest is calculated on the daily tiered marginal closing account balance and paid monthly on the last day of the month. Interest is paid in the same currency as the account. Interest rates are calculated on a per annum basis. Interest rates and balance tiers are specific to each account type and are subject to change at any time without advance notice.
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This account provides clients with a standard base interest rate that is paid all the time plus premium rates for maintaining a balance without withdrawals over specific periods of time. Interest is calculated on the daily account closing balance and paid monthly on the last day of the month. Interest is paid in the same currency as the account. Interest rates are calculated on a per annum basis. Interest rates and premium periods are subject to change at any time without advance notice.
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Clients are entitled to the Welcome Bonus Interest rate offer if they meet the following criteria:
The Welcome Bonus Interest offer is limited to one account per client.
If a client has both a sole and a joint account, the account opened first will receive the bonus.
None of the account holders must have held (either individually or jointly) any of the following accounts within the last three years from your first eligible account opening:
No Springboard Savings account in the last 3 years.
No ATB Climber Savings account in the last 3 years.
The Welcome Bonus Interest rate will be calculated on the daily closing account balance and paid out monthly on net new balances. Tax implications may be associated with this offer. This offer is subject to change without notice. -
Interest is calculated on the daily tiered whole closing account balance and paid monthly on the last day of the month. Interest is paid in the same currency as the account. Interest rates are calculated on a per annum basis. Interest rates and balance tiers are specific to each account type and are subject to change at any time without advance notice.
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The material on this page is for informational purposes only and should not be considered as ATB Financial offering tax, legal, financial or investment advice. ATB Financial cannot guarantee the accuracy or completeness of this page, but it is believed to be correct as of the time of publication. ATB High Interest Savings Account and ATB U.S. Investment Savings Account are available through registered investment dealers authorized by ATB Financial. Accounts will be set up in Nominee form only, in the name of the dealer and may only be purchased and redeemed through FundSERV®.
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Springboard Savings is a registered trademark of ATB Financial.
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ATB Climber Savings Account is a trademark of ATB Financial.
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Apple Pay is a trademark of Apple Inc., registered in the U.S. and other countries.
Google Pay is a trademark of Google LLC. -
Springboard Savings is a registered trademark of ATB Financial.