How to protect yourself from identity fraud in Canada + MORE May 26th

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…

Canadian home buyers and investors who bought condos a few years ago are now finding their property values on closing are below their purchase prices. This is not a situation that many envisioned when they bought their pre-construction condos during the post-COVID frenzy.

How did we get here, where condo prices have dropped?

Nation-wide, condo prices spiked by over 29% between January 2021 and April 2022, according to the Canadian Real Estate Association (CREA). Since the peak in spring 2022, condo prices have fallen 12%. The decline in the Greater Toronto Area (GTA) has been even more pronounced, with CREA reporting condo prices down 19%. 

A Toronto condo buyer who bought in spring 2022, at the peak benchmark price of $730,500, may have put down as little as 5%, or $36,525 for a downpayment. The current benchmark condo price of $593,000 (as of April 2025) implies that initial deposit plus more than another $100,000 of value has been wiped out. Even if the buyer still wanted to close on the purchase, their chosen lender might no longer want to finance it…

Among the Canadians that lose their jobs every year are many that face a twist: it isn’t just their employment vanishing but also the company they work for. 

Whether the wind down is because the owners are simply giving up the business or, like 355-year-old department store chain Hudson’s Bay, have not been able to handle its debt, the disappearance of an employer brings extra difficulties to the unemployment process. 

“It’s absolutely a bit more complex,” said Sunira Chaudhri, founding lawyer at Workly Law in Toronto.

Workers might have to wade through bankruptcy or creditor protection court processes to get paid outstanding earnings or may later find they have no point person to help locate paperwork they’ll need during tax season or when applying for government assistance.

The extra layer of complexity makes it even more important for workers to plan ahead so they can recover from the job loss, say Chaudhri and other labour experts.

Gather your employment documents now

As soon as it becomes clear the company you work for is winding down and taking your job with it, it’s time to start collecting documentation, like records of employment, T4s and contracts or letters describing your pay, commission and vacation, said Neena Gupta, a Waterloo, Ont…

In 2024, Canadians lost a jaw-dropping $638 million to fraud, according to the Canadian Anti-Fraud Centre (CAFC). That’s already a hefty $60 million more than losses reported the previous year, but the true total is likely much, much higher—experts at the CAFC say that less than 5% of scams are ever reported.

What we do know, however, is the type of fraud reported most often in Canada in 2024: identity fraud. To pull this off, criminals use phishing scams and other ruses to trick Canadians into revealing personal and financial information. Depending on what they find out, scammers could impersonate you, charge purchases to your credit card, apply for a loan and/or mortgage in your name, drain your bank accounts and more.

Scams are becoming harder to identify. Some fraudsters now use artificial intelligence (AI) technology to create highly convincing audio and video “deepfakes” using Canadians’ voices and faces. AI tools are also helping criminals target exponentially more people at once, making scams harder to avoid…

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…