Tangerine savings accounts compared
🗓️
Updated: June 10, 2025
Partners on this page provide us earnings.
Tangerine savings accounts offer customers some benefits that they won’t find even at the largest traditional financial institutions. We’ve taken a look at the best Tangerine savings accounts below.
Best Tangerine Savings Accounts
Savings accounts from Tangerine are some of the most convenient to bank with, because they don’t impose any minimum balances, fees, or service charges whatsoever. At the end of the day, customers want saving money to be simple and easy, and that’s exactly what Tangerine accomplishes. Discover the best of this excellent bank’s savings accounts below, including the Tangerine TFSA, Retirement Savings Plan, and more.
Tangerine Savings Account
One of the best Tangerine savings accounts is also the simplest. With no fees, minimum balances or surcharges, saving money requires no hesitation or extra thought, and is easy with a favourable interest rate.
Without fees or minimums, it’s simple to withdraw or move your money between accounts. It’s also safe, as Tangerine makes deposits of up to $100,000 eligible for CDIC insurance. For customers who need to save at a competitive rate, but don’t want to actively manage their money or worry about hidden charges for doing so, the Tangerine Savings Account is ideal.
- 0.30% rate
- No fees, surcharges, or minimum deposit amounts
Tangerine Tax-Free Savings Account (TFSA)
Put some extra power behind your savings by getting a great rate, and earning interest without the burden of taxes. The Tangerine TFSA is for Canadians above the age of majority who want to put money aside and let it accrue interest at 0.30%, and then not pay the standard tax on interest when they withdraw the money later. While contributions to a TFSA aren’t deductible and an annual ceiling is set at $7,000 for 2025, the deposits and the interest they earn are totally exempt.
Add in Tangerine’s absence of fees, surcharges and minimums and savings are accelerated further. Even better, customers banking with Tangerine can take advantage of the bank’s Automatic Savings Program, which they can use to set up automatic withdrawals from their other bank accounts and maximize their tax-free savings each year. For those who plan their finances strategically, a TFSA is a necessary tool, and Tangerine’s option represents one of the very best in the Canadian market.
- 0.30% rate
- No fees, surcharges, or minimums
- Automatic savings program
Tangerine Retirement Savings Plan (RSP)
Saving for retirement is straightforward and lucrative when you bank with Tangerine. The Tangerine RSP allows those with their eyes on the future to automatically make maximum contributions each year, and earn interest at an excellent rate. Moreover, all deposits to one’s RSP are deductible from yearly income, helping to reduce an account holder’s tax burden while gaining access to compound interest as well.
Customers of Tangerine, as always, can optimize how money moves through their various accounts inexpensively. Exemption from fees and other charges, mandated minimum balances and other restrictions make building a nest egg easier than ever. Combine it with the Automatic Savings Plan to ensure that you contribute your yearly maximum to a retirement account without any extra effort needed.
- Tax-deductible deposits
- 0.30% interest
- Automatic Savings Plan
About Tangerine
Tangerine Bank, referred to as simply Tangerine by most is a subsidiary of Scotiabank that specializes in consumer-friendly credit cards, savings accounts, and chequing accounts for Canadians. The bank provides some unique ways for customers to benefit from their spending and saving efforts, exemplified by products like the Tangerine Money-Back Credit Card, which allows cardholders to choose which purchase categories they earn the most rewards in.
Scott Birke
Content editor, Money.ca
Scott Birke is a financial content editor at Money.ca.
Latest Articles
Disclaimer
The content provided on Money.ca is information to help users become financially literate. It is neither tax nor legal advice, is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. We make no representation or warranty of any kind, either express or implied, with respect to the data provided, the timeliness thereof, the results to be obtained by the use thereof or any other matter. Advertisers are not responsible for the content of this site, including any editorials or reviews that may appear on this site. For complete and current information on any advertiser product, please visit their website.
†Terms and Conditions apply.