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Rates

View all of our rates in one place to find the product that best matches your needs. Please note that rates are subject to change without notice.

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Introducing our new No Nonsense Rate of 1.65% on all Zag Savings accounts. No conditions attached. It’s savings how it should be: Easy. Start saving now.

Zag Savings: Your Zag Savings account interest rate is annualized, calculated daily and paid monthly into your account on the last day of the month.  Interest will be calculated as soon as the funds are received by Zag Bank and deposited into your Zag savings account.

Zag GIC: For 1-5 year term GICs, interest is annualized, calculated daily, compounded monthly* and paid depending on the interest payment option selected by you.  You have the option to have interest paid out to your Zag Savings Account (or to the External Account from which the funds originated if you don’t have a Zag Savings Account) either  monthly, semi-annually, annually or at maturity (*if you choose the monthly payment option, interest is not compounded and becomes calculated as simple interest). 

For the Zag Tax-Free GIC and Zag RRSP GIC, interest is annualized, calculated daily, compounded monthly and paid at maturity for 1 to 5 year terms.

 For 6 and 9 month term GICs, interest is calculated daily and paid at maturity to your Zag Savings Account (or the External Account from which the funds originated if you don’t have a Zag Savings Account).  Interest is calculated as simple interest on 6 and 9 month GICs and therefore is not compounded. 

The applicable interest rate is determined on the date on which Zag Bank receives your funds.


High Interest Savings Accounts

Zag SavingsAPR*
Zag Savings (Non-registered, Tax-Free and RRSP)1.65%


Guaranteed Investment Certificate (GIC) Accounts

Zag GIC (Non-Registered) and Zag Tax-Free GICAPR*
1 year1.20%
2 years1.30%
3 years1.50%
4 years1.60%
5 years2.00%
6 months0.75%
9 months0.80%
Zag RRSP GICAPR*
1 year1.20%
2 years1.30%
3 years1.50%
4 years1.60%
5 years2.00%


The rates were last updated on October 17, 2016 (midnight EST).