How to use this tool: You can simply scan the savings account comparison table below to view interest rates offered by financial institutions across Canada. Or, input your estimated account balance and compare between high-interest savings accounts (HISA), tax-free savings accounts (TFSA), registered retirement savings plan accounts (RRSP) and youth savings accounts. This finder ranks savings accounts by their first year return based on the information you’ve keyed in, to help you find the best account for your financial needs.
Best Savings Account Finder
Traditional savings accounts offer very low interest rates, so if you want to earn on your deposits (rather than simply use your account as a temporary “holding tank” for funds you’ll soon be using for purchases, or directing to longer-term saving and investing vehicles), a high-interest savings account is a no-brainer. When shopping for the best product for your needs, there’s more to consider than just the interest rate. So you can make an informed decision, in addition to using the finder tool to compare the fees and features of several different options available, you can scroll down to read seven editors’ picks for the best high-interest savings accounts in Canada.
Canada’s best high-interest savings accounts 2019
Rates as of November 21, 2019
- Best high-interest savings account rate: LBC Digital High Interest Savings Account*
- Best regular interest rate at an online bank: Motive Financial Savvy Savings Account*
- Best regular interest rate at a credit union: MAXA Financial High Interest Savings Account*
- Best for interest rates and no service fees: EQ Bank Savings Plus Account*
- Best e-savings account: Alterna Bank High Interest eSavings Account*
- Best promotional rate: Tangerine Savings Account
- Best tiered interest product: Scotiabank Momentum Savings Account*
Learn more about these savings accounts in our best high interest savings account in Canada in 2019* post.
What does the * mean?
If a link has an asterisk (*) at the end of it, that means it’s an affiliate link and can sometimes result in a payment to MoneySense which helps our website stay free to our users. It’s important to note that our editorial content will never be impacted by these links. We try our best to look at all available products in the market and where a product ranks in our article or whether or not it’s included in the first place is never driven by compensation. For more details read our MoneySense Monetization policy.