The “Big Five” Canadian banks include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Are there other viable options?
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The best GIC rates in Canada for 2025 + MORE Dec 2nd
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.
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MoneySense is an award-winning magazine, helping Canadians navigate m.... More »
What to look for in a kids’ bank account Dec 9th
When your child is ready to graduate from piggy bank to real bank, you’ll want to look for an account that doesn’t eat into those initial deposits of loonies, toonies and birthday money with a bunch of bewildering fees. There are many options for your young saver that allow them to watch their m.... More »
The best GIC rates in Canada for 2024 Jun 19th
Investing
The best GIC rates in Canada
Find the best GIC rates in Canada. Plus, everything you need to know about how they work.
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Why trust us
MoneySense is an award-winning magazine,.... More »
How to tell if a company is honest Aug 16th
Despite what you may witness on Twitter, people generally see the good in others, whether that’s their friends, colleagues or the executives running the companies they invest in. We want to believe a business we’re buying into is on the up-and-up, that what they’re saying about their operation.... More »
The Best Canadian Credit Cards of 2016
– ratesupermarket.ca
RateSupermarket.ca‘s annual credit card ranking examines Canada’s best in 12 categories
When choosing a credit card, are you looking for travel rewards, a low interest rate or maybe a good starter card for a student’s lifestyle? Using RateSupermarket.ca, Canada’s comprehensive financial rates comparison site, is a great way to find your best match, and every year we go the extra mile to figure out exactly which products offer the best value.
In picking the winners of the 2016 Best of Finance Awards, we spent hours upon hours breaking down miles, points and cash back. We examined interest rates, promotional balance transfer rates and annual fees. And we compared these figures using the everyday expenditures of the average Canadian over a two-year period to come up with a list of the best cards currently on the market.
To determine and compare the true value proposition of each card, we have converted all rewards – from points and miles to interest promotions – to cash earned over a 24-month period, based on the average Canadian household expenditure according to Statistics Canada…
The Best Banking Products in Canada: 2016 Edition
– ratesupermarket.ca
RateSupermarket.ca ranks Canada’s top banking performers in savings, chequing and GICs
Interest rates may be low these days, but if you’re looking to make your money work for you in the best way possible, then there are still plenty of options. Canada’s banks offer a variety of products with competitive rates. Depending on how much you can put in, you may be surprised by what you get in return.
To examine the best savings and chequing accounts and GICs, we crunched the numbers using common deposit amounts for all three. None of the winning products carry monthly fees and all are examined over a five-year term.
And the 2016 banking winners are*:
Best Savings Account with $5,000 Balance
WINNER: BMO Savings Builder
2nd Place: Scotiabank Savings Accelerator
3rd Place: Scotiabank Momentum Savings
Best Savings Account with No Minimum Balance
WINNER: EQ Savings Plus Account
2nd Place: Alterna Bank High Interest eSavings Account
3rd Place: Oaken Savings Account
Best Chequing Account with Low Balance
WINNER: Tangerine No Fee Daily Chequing
2nd Place: President’s Choice Financial® No Fee Bank Account
Best 5-Year Cashable GIC – Registered
WINNER: ICICI Bank Canada GIC
2nd Place: BMO GIC
Best 5-Year Cashable GIC – Non-Registered
WINNER: ICICI Bank Canada GIC
2nd Place: Royal Bank GIC
3rd Place: BMO GIC
Best 5-Year Cashable GIC – TFSA
WINNER: ICICI Bank Canada GIC
2nd Place: Canadian Direct Financial GIC
3rd Place: State Bank of India GIC
Best 5-Year Non-Cashable GIC
WINNER: Oaken Financial GIC
2nd Place: Implicity Financial GIC
3rd Place: MAXA Financial
*All data was compiled between September 7 and 21, 2016…
The Best Banking Products in Canada: 2016 Edition
– ratesupermarket.ca
RateSupermarket.ca ranks Canada’s top banking performers in savings, chequing and GICs
Interest rates may be low these days, but if you’re looking to make your money work for you in the best way possible, then there are still plenty of options. Canada’s banks offer a variety of products with competitive rates. Depending on how much you can put in, you may be surprised by what you get in return.
To examine the best savings and chequing accounts and GICs, we crunched the numbers using common deposit amounts for all three. None of the winning products carry monthly fees and all are examined over a five-year term.
And the 2016 banking winners are*:
Best Savings Account with $5,000 Balance
WINNER: BMO Savings Builder
2nd Place: Scotiabank Savings Accelerator
3rd Place: Scotiabank Momentum Savings
Best Savings Account with No Minimum Balance
WINNER: EQ Savings Plus Account
2nd Place: Alterna Bank High Interest eSavings Account
3rd Place: Oaken Savings Account
Best Chequing Account with Low Balance
WINNER: Tangerine No Fee Daily Chequing
2nd Place: President’s Choice Financial® No Fee Bank Account
Best 5-Year Cashable GIC – Registered
WINNER: ICICI Bank Canada GIC
2nd Place: BMO GIC
Best 5-Year Cashable GIC – Non-Registered
WINNER: ICICI Bank Canada GIC
2nd Place: Royal Bank GIC
3rd Place: BMO GIC
Best 5-Year Cashable GIC – TFSA
WINNER: ICICI Bank Canada GIC
2nd Place: Canadian Direct Financial GIC
3rd Place: State Bank of India GIC
Best 5-Year Non-Cashable GIC
WINNER: Oaken Financial GIC
2nd Place: Implicity Financial GIC
3rd Place: MAXA Financial
*All data was compiled between September 7 and 21, 2016…
