HISA rate update
Savings Rates After the Bank of Canada Hike: Who Moved First
- Only two savings accounts we track went up the day after the Bank of Canada hike: Achieva’s Daily Interest Savings Account, 1.80% → 2.05%, and RBC High Interest eSavings, 0.55% → 0.65%.
- Saven still pays the best regular rate at 2.85%, with no conditions and no minimum. Oaken is second at 2.80% and Hubert third at 2.50%.
- Manulife’s 3.00% for two years is still the best offer, but new accounts must be opened by October 30, the day after this check.
- The best Big Six regular rate is now RBC’s 0.65%, still 2.20 points below Saven.
- BMO’s 5.00% offer closes November 1 and runs for 120 days, about 1.95% over a full year (we estimated 1.97% on October 24 from the page’s “first 4 months”; BMO’s terms give 120 days).
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% | 1.95% | open online between Oct 1 and Nov 1, 2026 together with a new eligible chequing account (Performance, Premium, Blue Rewards, Plus or Practical); Canadian residents; 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) | 2.05% |
| 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 | RBCHigh Interest eSavings · CDIC | 0.65% |
| 10 | Innovation Credit UnionSavings Account · CDIC | 0.60% |
| 11 | 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
Compared with our October 24 check: Achieva raised its Daily Interest Savings Account from 1.80% to 2.05% (effective October 29), and RBC raised High Interest eSavings from 0.55% to 0.65%. Every other regular, conditional and promotional rate we read was unchanged, including Saven, Oaken, EQ Bank, Manulife, Tangerine, Simplii, CIBC, TD, BMO and Scotiabank. BMO’s offer terms, read this week, set the promotional period at 120 days for accounts opened online by November 1.
Our take
On $10,000 kept for a year, Saven’s 2.85% pays about $285, Achieva’s new 2.05% about $205, and RBC’s 0.65% about $65. Savings rates are variable and banks can change them any day, so more moves may come in the weeks after a rate hike. We will report which banks follow in our next update.
Achieva also pays 2.20% in its registered savings account (TFSA, RRSP and RRIF). It is a division of Cambrian Credit Union in Manitoba, and its deposits are guaranteed without limit by the Deposit Guarantee Corporation of Manitoba (DGCM), not CDIC. Its online application asks for ID, Canadian residency status, a SIN and a credit check, and lists no province restriction.
How we checked
On October 29, 2026 we read the savings account rate pages of 19 Canadian banks, credit unions and online savings providers. How we check these rates →
Keep comparing
The best high-interest savings accounts in Canada page always shows the ranking from our latest check. If you will not need the money for a year or more, compare the best GIC rates in Canada or read our GIC vs HISA guide.
