Surviving the present, investing in the future: Gen Z’s financial balancing act + MORE Sep 15th

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.

Advertisement

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…

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.

Advertisement

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…

For Canada’s Gen Z, money is a mix of anxiety and opportunity. They’re the nation’s youngest workers, navigating rising living costs, heavy debt loads, and uncertain job markets. Many hustle to make ends meet—taking on gig work, cutting back on spending, and finding creative ways to save—while also trying to build a financial foundation for the future. 

But Gen Z is also the most digitally savvy generation yet, quick to adopt budgeting apps, mobile wallets, and investing platforms. The result is a generation redefining what it means to manage money in Canada today.

By the numbers

Workers of all ages have to contend with stagnant paycheques and irregular work alongside a surging cost of living, but Gen Z is doing it as the youngest workers in the country.

A recent report by fintech company KOHO paints a pretty grim picture for young Canadians. According to their numbers, only 41% of Gen Z are employed full time and nearly 20% are unemployed. With an average monthly income of just $1,083, it’s no surprise that nearly half expect to take on more work in the next year—and only 29% say they feel financially stable…