What is the average savings rate in Canada?

The average savings rate in Canada is currently 4.20% as of March 2026.

Updated March 2026

Savings Account Interest Rate in Canada (2026)

4.20%

Ranked #14 of 30 • Global avg 7.90%

Top retail savings accounts in Canada currently yield around 4.20%, below the global average of 7.90%.

Among the 30 economies tracked by NoodlePants, Canada ranks #14 for savings rate — putting it mid-pack globally.

A $10,000 deposit at 4.20% would earn about $420 in interest per year, before tax.

Mortgage Interest Rate	5.80%	View →
Savings Account Interest Rate	4.20%	View →
Credit Card Interest Rate (APR)	20.5%	View →
Average Rent (1BR City Centre)	$1,550/mo	View →
Real Estate Price (per m²)	$5,400/m²	View →

Argentina

110.00%

Brazil

11.50%

Colombia

11.00%

Mexico

9.50%

South Africa

7.50%

India

6.80%

Poland

5.50%

Vietnam

5.20%

New Zealand

5.10%

#10

United Kingdom

4.80%

#11

Czech Republic

4.80%

#12

Australia

4.60%

Pick another country and see a full side-by-side breakdown.

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