Wealthsimple interest rates vs the Bank of Canada rate
The Bank of Canada rate was 2.25% at the time of last verification. Wealthsimple chequing paid 1.25% (Core), 1.75% (Premium) and 2.25% (Generation). Core and Premium could add 0.5% with direct deposit.
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Numbers as of October 5, 2026.
Today at a glance
The Bank of Canada target was 2.25%, held on September 2, 2026. The last change was a 0.25 point cut on October 29, 2025. Next announcements: October 28, 2026 and December 9, 2026. We do not predict decisions.
Chequing rates
| Tier | Base rate | With direct deposit |
|---|---|---|
| Core | 1.25% | 1.75% |
| Premium | 1.75% | 2.25% |
| Generation | 2.25% | Not eligible |
Direct deposit boost needs $2,000 or more in direct deposits within 30 days. Interest is calculated daily and paid monthly. See chequing.
Margin and line of credit (CAD)
Prime per Wealthsimple: 4.45%.
| Tier | Rate |
|---|---|
| Core | 4.95% |
| Premium | 4.45% |
| Generation | 3.95% |
What a rate move means for you
Simple estimate: $10,000 at 1.25% earns about $125 a year before tax. A 0.25 point drop cuts that by about $25.
How we update this page
After each Bank of Canada announcement we re-check Wealthsimple's pages and update the numbers.
Related guides
Frequently asked questions
What interest does Wealthsimple chequing pay?
At the time of last verification: 1.25% for Core, 1.75% for Premium and 2.25% for Generation, before any direct deposit boost.
How do I get 2.25%?
Generation clients ($500,000 or more) earned 2.25%. Premium clients could reach 2.25% by adding 0.5% with $2,000 or more in direct deposits within 30 days.
When is the next Bank of Canada decision?
October 28, 2026 and December 9, 2026.
Does Wealthsimple change rates when the Bank of Canada does?
Wealthsimple says its rates follow Bank of Canada changes. Check the chequing page after each decision.
Is chequing CDIC covered?
Wealthsimple says eligible balances are held in trust at CDIC members. Check the pricing page for current limits.
Sources
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Last verified October 5, 2026. Official terms always take priority.