Savings rates Savings accounts

Best savings account rates

Every lender's advertised high-interest savings account rate, highest first. Collected from each lender's own website every hour, or three times a day for a few lenders.

Loading rates…
RankLenderRateBelow highest

Click a lender to see all its rates. Rates may be out of date or incomplete, so confirm the current rate and terms with the lender before you decide.

What is a high-interest savings account?

A savings account that pays more interest than a basic one, while letting you take your money out any time. Most banks work out the interest every day and pay it monthly1. Unlike a GIC's, the rate can change at any time.

These are the regular rates, for a $10,000 balance where the rate depends on the balance. Promotional offers are shown on the main page. New to savings accounts? Start with Rates Explained: Savings.

Before you open one

  • Check whether the rate is for the whole balance, or for tiers of it.
  • Eligible deposits at CDIC member banks are insured up to $100,000 per category2. Credit unions are covered by their province.
  • Interest in a regular account is taxed3. In a TFSA savings account it's generally tax-free.

Compare other rates

Best 1-year GIC rates Best 2-year GIC rates Best 3-year GIC rates Best 4-year GIC rates Best 5-year GIC rates All savings rates side by side

Rates by lender

BMOCIBCEQ BankNational BankRBC Royal BankScotiabankTangerineTD Canada TrustATB FinancialAlterna SavingsCoast Capital SavingsDesjardinsServus Credit UnionManulife BankVancityMeridianFirst NationalAffinity Credit UnionConexus Credit UnionLibro Credit UnionFirstOntario Credit UnionUNI FinancialICICI Bank CanadaAccess Credit UnionAssiniboine Credit UnionSteinbach Credit UnionBeem Credit UnionTru Cooperative BankSimplii FinancialWealthsimpleCanadian Tire BankPC FinancialNeo FinancialSaven FinancialAchieva Financial
References
  1. Meridian: savings account rates and how interest is paid
  2. Canada Deposit Insurance Corporation: what's covered
  3. Canada Revenue Agency: interest and other investment income