HISA rate update
Savings Rates This Week: Do the 5% Promos Pay?
- The best regular savings rate is Saven’s 2.85%, followed by Oaken at 2.80%. No conditions, no minimum.
- The 5% promotions pay about 2% over a full year. Tangerine’s 5.00% lasts five months and works out to about 2.27%; BMO’s to about 1.97%.
- The best offer this week is Manulife’s 3.00% for two years, double its regular 1.50%, but new accounts must be opened by October 30.
- EQ Bank raised its Personal Account base rate from 1.00% to 1.50%; with a direct deposit the rate stays at 2.75%.
Savings promotions: what they pay over a year
| Bank | Promo rate | For | Then | Full year | Conditions |
|---|---|---|---|---|---|
| Manulife BankAdvantage Account (promotional) | 3.00% | 2 years | 1.50% | 3.00% | new personal non-registered CAD Advantage Account opened Jul 2 – Oct 30, 2026; net new deposits; max $500,000; one account per client |
| TangerineNew Client Savings Offer (registered) | 5.00% | 5 months | 0.30% | 2.27% | new clients with a Client Number created Jul 28 – Nov 30, 2026; open within 60 days; max $1,000,000 per account type |
| TangerineNew Client Savings Offer (non-registered) | 4.50% | 5 months | 0.30% | 2.06% | new clients with a Client Number created Jul 28 – Nov 30, 2026; open within 60 days; max $1,000,000 per account type |
| BMOSavings Amplifier Account (promotional) | 5.00% | 4 months | 0.45% | 1.97% | open a new eligible chequing account (Performance, Premium, Blue Rewards, Plus or Practical) and a Savings Amplifier Account; balances up to $1,000,000 |
| CIBCCIBC eAdvantage Savings Account (new account special) | 4.60% | 3 months | 0.30% | 1.36% | first CIBC eAdvantage Savings Account; limits apply |
Full year = the promotional rate for the promotional period, then the regular rate for the rest of 12 months.
Top HISA rates this week
| # | Bank and account | Rate |
|---|---|---|
| 1 | Saven FinancialHISA · Ontario credit union (FSRA) | 2.85% |
| 2 | Oaken FinancialSavings Account · CDIC | 2.80% |
| 3 | Hubert FinancialHigh Interest Savings · Manitoba credit union (DGCM) | 2.50% |
| 4 | AchievaDaily Interest Savings Account · Manitoba credit union (DGCM) | 1.80% |
| 5 | EQ BankPersonal Account (base rate) · CDIC | 1.50% |
| 5 | Manulife BankAdvantage Account · CDIC | 1.50% |
| 7 | Peoples Banke-savings · CDIC | 1.20% |
| 8 | Alterna BankHigh Interest eSavings Account · CDIC | 1.05% |
| 9 | Innovation Credit UnionSavings Account · CDIC | 0.60% |
| 10 | RBCHigh Interest eSavings · CDIC | 0.55% |
| 10 | National BankHigh Interest Savings Account · CDIC | 0.55% |
| 12 | TDePremium Savings Account · CDIC | 0.45% |
| 12 | BMOSavings Amplifier Account · CDIC | 0.45% |
| 14 | Conexus Credit UnionSavings · Saskatchewan credit union | 0.35% |
| 15 | TangerineSavings Account · CDIC | 0.30% |
| 15 | SimpliiHigh Interest Savings Account · CDIC | 0.30% |
| 15 | CIBCeAdvantage Savings Account · CDIC | 0.30% |
Regular rates a new customer gets with no conditions, at a $10,000 balance, non-registered, Canadian dollars. HISA rates are variable and can change at any time.
Higher rates with conditions
| Bank and account | Rate | Condition |
|---|---|---|
| EQ BankPersonal Account (bonus with direct deposit) | 2.75% | recurring direct deposits of at least $2,000/month |
| EQ Bank30 Day Notice Savings Account | 2.75% | 30 days notice to withdraw |
| EQ Bank10 Day Notice Savings Account | 2.35% | 10 days notice to withdraw |
| TDTD Growth Savings Account (boosted) | 1.00% | eligible TD chequing (Unlimited / All-Inclusive / Private) + 2 of 3 monthly transactions (direct deposit, online bill payment, pre-authorized debit) |
| ScotiabankScotia High Interest Savings Account | 1.50% to 2.20% | rate set by Total Relationship Balance across Scotiabank accounts, not the HISA balance alone |
| WealthsimpleWealthsimple Chequing (Generation clients) | 2.25% | rate depends on client tier (Generation 2.25%, Premium 1.75%) |
What changed
This is our first HISA update, so most rates are a starting point for future comparisons. One change we can confirm: EQ Bank raised its Personal Account base rate from 1.00% to 1.50% (effective October 2) and cut the direct-deposit bonus from 1.75% to 1.25%, so the top rate stays at 2.75% for customers with a direct deposit.
Our take
On $10,000 kept for a year, Saven’s regular 2.85% pays about $285 and Oaken’s 2.80% about $280, with nothing to remember. Tangerine’s 5% offer pays about $227 over the same year and BMO’s about $197, because the high rate stops after a few months.
A promotion is worth it if you will move the money again when it ends. Manulife’s offer is the exception: 3.00% for two full years beats every regular rate we found, as long as you can open the account by October 30.
How we checked
On October 24, 2026 we read the savings account rate pages of 19 Canadian banks, credit unions and online savings providers. How we check these rates →