Compare the highest-interest savings accounts (HISAs) in Canada. No-fee, CDIC-insured, with competitive promotional and regular rates.
CIBC · savings
The CIBC RRSP Daily Interest Savings Account has no monthly fee, making it risk-free to hold. The regular rate is 2.25%.
CIBC · savings
The CIBC TFSA Tax Advantage Savings Account has no monthly fee, making it risk-free to hold. The promotional rate hits 3% for 4 months. The regular rate is 2.25%.
4 months
Scotiabank · savings
The Scotiabank Right Size Savings for business has no monthly fee, making it risk-free to hold. The promotional rate hits 3.15% for 6 months. The regular rate is 1.5%. Current offer: Earn up to 3.15% interest for 6 months*.
6 months
RBC · savings
The RBC High Interest eSavings Account has no monthly fee, making it risk-free to hold. The promotional rate hits 4.2%. The regular rate is 1.4%.
CIBC · savings
The CIBC eAdvantage Savings Account has no monthly fee, making it risk-free to hold. The promotional rate hits 4.5% for 4 months. The regular rate is 1.4%.
4 months
Scotiabank · savings
The Scotiabank Savings Accelerator Account has no monthly fee, making it risk-free to hold. The promotional rate hits 4.05%. The regular rate is 1.4%.
National Bank of Canada · savings
The National Bank High Interest Savings Account has no monthly fee, making it risk-free to hold. The regular rate is 0.55%.
Scotiabank · savings
The Scotiabank MomentumPLUS Savings Account has no monthly fee, making it risk-free to hold. The regular rate is 0.55%. Current offer: Get a 4.75% interest rate* for 3 months.
TD · savings
The TD High Interest Savings Account has no monthly fee, making it risk-free to hold. The regular rate is 0.05%.
RBC · savings
The RBC Day to Day Savings has no monthly fee, making it risk-free to hold. The regular rate is 0.01%.
Complete Guide
A high-interest savings account (HISA) is the right home for your emergency fund, short-term goals, and any cash you don't need within 24 hours. The best HISAs in Canada pay 3.5–5% interest with no monthly fee, no minimum balance, and full CDIC insurance up to $100,000 per category.
Most banks offer promotional rates (5–6%) for the first 3–6 months to attract new customers. Always check the regular rate that kicks in afterward — that's what you'll actually earn long-term. EQ Bank has historically offered one of the highest everyday rates in Canada.
HISAs win on flexibility (withdraw anytime), GICs win on locked-in rates (better when rates are falling). For an emergency fund: always HISA. For money you can lock up for 1+ year: compare both — GIC rates often beat HISA regular rates by 0.5–1%.
FAQ
