Savings Accounts

First Home Savings Account (FHSA)

The FHSA is a tax-free account which was created specifically to help save for purchasing a first home

Features:

Interest Rate: View Rate

Contribute up to $8 000 a year, and a lifetime value of $40 000
The account is free to open and has no monthly costs
Contributions made to the account are tax deductible

Plan 24 Account

Our standard savings account that encourages developing and maintaining healthy saving habits. Helping members save for a rainy day, big purchase, or family trip

Features:

Interest Rate: 0.05%

Interest calculated daily and paid monthly
Free in-branch withdrawals and transfers
Free online transfers

No minimum balance required to earn interest!

OPEN AN ACCOUNT

Book an Appointment

High Interest Savings Account (HISA)

Our High Interest Savings Account (HISA) offers members a higher interest rate while still planning to utilize some of their savings

Features:

Interest Rate: View Rate

Interest calculated daily and paid monthly
Free in-branch withdrawals and transfers
Free online transfers

No minimum balance is required to earn interest!

OPEN AN ACCOUNT

Book an Appointment

US Savings Account

An excellent account to always keep US funds ready for a future vacation or weekend shopping trip. Tip: Keep and eye on the Exchange Rate and convert your CAD funds to USD at optimal times

Features:

Interest Rate: $0 - $5,000: 0% | $5,000 and up: 0.10%

Interest calculated daily and paid monthly

OPEN AN ACCOUNT

Book an Appointment

Tax-Free Savings Account (TFSA)

Information about TFSAs can be found with our registered products

Tax-Free Savings Account Info

Using your Motor City Account

When it comes to the ways that you can use your account, we know that some might seem automatic like using the Motor City ppp or visiting a branch, and some might not be top of mind all the time. Here's a full list of the ways that you can take full advantage of your account!