Savings account · Alterna Bank
Alterna Bank High Interest eSavings Account: fees and true cost
Alterna Bank’s High Interest eSavings Account lists 1.05% interest and no monthly fee. On $10,000 that’s about $105 a year before tax, at the posted rate.
CDICOffered in all ten provinces
Fees retrieved November 1, 2026
Mitey reads Alterna Bank’s High Interest eSavings Account rate sheet: $105 a year on $10,000.
What interest does High Interest eSavings Account from Alterna Bank pay?
High Interest eSavings Account lists 1.05% interest with FCAC. On $10,000 that is about $105 a year before tax, with no monthly fee, #8 of 25 savings accounts offered nationwide by interest after fees. Eligible deposits are insured by CDIC up to $100,000 per category. Rates as listed on November 1, 2026; promotional rates may differ.
Is Alterna Bank High Interest eSavings Account the best place for savings?
- Versus the top posted rate: on $10,000, 30 Day Notice Savings Account (EQ Bank, 3%) would pay about $195 more a year after fees.
- Or lock it in: a 1-year GIC at 3.75% (Oaken Financial, posted November 2, 2026) would earn $375 on $10,000, against $105 here — but the money is locked in for the year.
Interest at different balances
| Balance | Rate | Interest a year |
|---|---|---|
| $1,000 | 1.05% | $11 |
| $10,000 | 1.05% | $105 |
| $50,000 | 1.05% | $525 |
| Balance | Rate (annual) |
|---|---|
| $0 to $250,000 | 1.05% |
Every fee FCAC lists for this account
| Item | Fee |
|---|---|
| Monthly fee | No monthly fee |
| Included transactions | Branch: 0 · self-serve: unlimited |
| Debit purchase in Canada (beyond included) | Not available |
| Online or mobile bill payment | No extra fee |
| Interac e-Transfer | No extra fee |
| Online transfer between your accounts | No extra fee |
| Own-bank ATM withdrawal | No extra fee |
| Withdrawal at another institution’s ATM | $1.90 |
| ATM withdrawal in the United States | $3.00 |
| ATM withdrawal in other countries | $5.00 |
| Debit purchase in the United States | Not available |
| In-branch withdrawal | Not available |
| Bill payment in branch | Not available |
| Cheque (as a payment) | Not available |
| Mailed monthly statement | $2.00 |
| Non-sufficient funds (NSF) | Not stated |
| Overdraft protection, monthly | Not stated |
| Overdraft protection, per use | Not stated |
| Overdraft interest | Not stated |
Notes from the institution
Free online savings account
Is the money protected?
CDIC member. Eligible deposits are covered up to $100,000 per category at each CDIC member — see the deposit safety tool.
Other savings accounts at Alterna Bank
- Daily Interest Savings — 0.05% interest
- Daily Interest Savings (Youth Start Package) — 0.05% interest
- Investment Savings Account — 0.05%–0.35% (tiered) interest
Source: FCAC Account Comparison Tool (data submitted by the institution), retrieved November 1, 2026 · Alterna Bank’s product page
Educational information only, not financial, legal or tax advice. CanadianBanks.ca is independent and is not affiliated with, endorsed by or paid by any institution listed. Confirm details with the institution and the official sources linked on each page before you act. Read the full disclaimer.