5 smart strategies for renewing your mortgage + MORE Mar 24th

Savings comparison tool

Find the best and most up-to-date savings rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated return based on the size of your balance.

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Why trust us
MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999. Our editorial team of trained journalists works closely with leading personal finance experts in Canada. To help you find the best financial products, we compare the offerings of major institutions, including banks, credit unions and card issuers. Learn more about our advertising and trusted partners.

Best high-interest savings account rates in Canada

Generally, savings accounts offer very low interest rates. So, if you want to earn on your deposits (rather than simply using your account as a temporary “holding tank” or directing to longer-term saving and investing vehicles), a savings account with a high interest rate is a no-brainer…

The first quarter of 2025 has bucked expectations of a “Trump trade.” Contrary to what many anticipated, U.S. President Donald Trump’s return to office hasn’t been smooth sailing for markets. Back-and-forth tariff threats on key trade partners like Canada and Mexico have created uncertainty for investors, contributing to market volatility. 

Year to date, as of March 17, the S&P 500 is down 3.8%, while the tech-heavy Nasdaq 100 has slid even further, dropping 6.5%.

With stocks struggling, you might be eyeing bond exchange traded funds (ETFs) as a refuge from equity risk and a way to diversify a mostly equity portfolio. A popular choice is the BMO Aggregate Bond Index ETF (ZAG)—a diversified option with a low 0.09% management expense ratio (MER).

Did you know these types of bond ETFs aren’t as safe as they appear? Conventional wisdom says bonds offer lower risk and lower returns than stocks, but there are nuances to this rule that most investors overlook when they’re packaged into an ETF…

GIC comparison tool

Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance.

Why trust us
MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999. Our editorial team of trained journalists works closely with leading personal finance experts in Canada. To help you find the best financial products, we compare the offerings of major institutions, including banks, credit unions and card issuers. Learn more about our advertising and trusted partners.

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Highest GIC rates in Canada

Banks, credit unions, trust companies and discount brokerages all offer GICs. Below, you’ll find the best rates available from a variety of financial institutions, including credit unions and Canada’s Big Six banks. The rates listed are for non-redeemable GICs held in non-registered accounts—the most popular type of GIC in Canada…

Ask MoneySense
If I have the RRSP room and put any capital gains earned into an RRSP, would I pay tax on that before I put it into an RRSP or would the RRSP delay the tax until I withdraw it?

—Leslie

When you sell an investment that isn’t tax-sheltered for a profit, you must report a capital gain on your tax return. But there are a few options to reduce the tax owed, which we will look at below.

Reducing capital gains with capital losses

If you have capital losses from the current year, or capital losses from previous years that you have not yet deducted, you can claim those unused losses to reduce a capital gain from the current tax year. Capital losses carry forward indefinitely, with no expiration.

You can also strategically trigger capital losses by selling investments at a loss before year-end—a strategy known as tax-loss selling.

Can RRSP contributions reduce capital gains tax?

A contribution to your registered retirement savings plan (RRSP) may help to reduce the potential tax payable as well, Leslie…

Owning a home has plenty of benefits, but it’s not without challenges. Over one million mortgages in Canada are set to renew in the next few years, and many home owners will be faced with higher interest rates. If you’re in this situation, you may feel squeezed in two ways: a higher interest rate will cost you more over the life of your mortgage, and it could impact your cash flow and monthly budget.

If you’re renewing your mortgage this year, starting your research early can help you get the best possible interest rate, better manage your cash flow and stay on track with your financial plan. Here are five smart strategies for renewing or refinancing your mortgage in 2025.

1. Plan ahead for your mortgage renewal

A little planning goes a long way—especially when it comes to your finances. You may have your mortgage renewal deadline on the calendar, but home owners can typically renew their mortgage up to 120 days in advance. Starting your search early can help you find better rates and allows you to make an unrushed, informed decision…