Compare Canadian Savings Rates
Savings Rates in Canada
Find and compare the best GIC and high-interest savings account (HISA) rates from top Canadian banks and online institutions — updated weekly.
Last updated: May 20, 2026
Today’s Best Rates at a Glance
Updated weekly · All rates in CAD
| Product | Institution | Rate | |
|---|---|---|---|
| GIC – 1 Year Non-redeemable · CDIC insured | Achieva Financial | 3.60% Regular | View all → |
| GIC – 5 Year Non-redeemable · CDIC insured | Achieva Financial | 3.85% Regular | View all → |
| HISA – Everyday No lock-in · CDIC insured | EQ Bank | 2.75% Regular | View all → |
| HISA – Promotional First 3 months · New customers | Scotiabank | 5.00% Promo | View all → |
GIC Rates
Guaranteed Investment Certificates lock in your rate for a fixed term. Compare 1-year to 5-year GICs from Canada’s top banks and credit unions.
Best 1-Yr Rate
3.60%
Compare GIC Rates →
HISA Rates
High-Interest Savings Accounts keep your money accessible while earning a competitive return. No lock-in, no penalty for withdrawals.
Best Everyday Rate
2.75%
Compare HISA Rates →
GIC vs. HISA: Which Is Right for You?
Both are safe, deposit-insured ways to grow your savings — but they work differently. The right choice depends on whether you need flexibility or are willing to lock your money in for a higher return.
🔒 Choose a GIC if you…
- Don’t need the money for 1–5 years
- Want a guaranteed, locked-in rate
- Are saving for a specific future goal
- Want to maximize return on idle cash
💧 Choose a HISA if you…
- Need to access your money anytime
- Are building an emergency fund
- Want flexibility while still earning interest
- Are saving for a short-term goal (under 1 year)
💡 Pro tip: Many Canadians use both — a HISA for their emergency fund and short-term savings, and a GIC ladder for longer-term cash they won’t need immediately.
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Latest Rate Guides
⚠️ Disclaimer: Rates shown are for informational purposes and are verified weekly from publicly available sources. Rates may change without notice. Always confirm current rates directly with the financial institution before making any savings or investment decisions.