Best High-Interest Savings Accounts in Canada
As of October 6, 2026, the highest ongoing savings rate we track is 2.85% at Saven Financial (Saven Financial High-Interest Savings Account). 4 accounts pay a higher introductory rate on new deposits, up to 4.6%; check how long it lasts before moving your money.
| Account | Provider | Ongoing rate | Promo rate | CDIC |
|---|---|---|---|---|
| Saven Financial High-Interest Savings Account | Saven Financial | 2.85% | — | — |
| Oaken Financial Savings Account | Oaken Financial | 2.8% | — | Yes |
| Wealth One Bank of Canada High-Interest Savings Account | Wealth One Bank of Canada | 2.6% | — | Yes |
| Wealthsimple Cash High-Interest Savings Account | Wealthsimple | 2.5% | — | Yes |
| Canadian Tire Bank High-Interest Savings Account | Canadian Tire Bank | 2.4% | — | Yes |
| EQ Bank Notice Savings Account | EQ Bank | 2.35% | — | Yes |
| Laurentian Bank High-Interest Savings Account | Laurentian Bank | 2.2% | — | Yes |
| Neo Savings Account | Neo Financial | 2% | — | Yes |
| Steinbach Credit Union High-Interest Savings Account | Steinbach Credit Union | 2% | — | — |
| Home Trust High-Interest Savings Account | Home Trust Company | 1.9% | — | Yes |
Is a high-interest savings account safe?
Savings at CDIC member banks are protected up to $100,000 per eligible deposit category at each institution. Credit union deposits are covered by provincial insurers.
Promo rate or ongoing rate: which matters?
Promotional rates usually apply only to new deposits for a few months. For money you keep long term, the ongoing rate matters more.
Compare all savings accounts · Best GIC rates · How we compare