The best high-interest savings accounts in Canada for 2025 + MORE Jun 9th

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…

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…

If you’re approaching or planning for retirement, you may have questions about Old Age Security (OAS) benefits, like: Do I need to apply for OAS? How much will I receive in OAS? When do OAS payments go out? We cover these questions and more below. But first, here’s a quick overview of how OAS works.

About Old Age Security (OAS)

Old Age Security benefits are monthly payments made by the federal government to supplement the income of eligible Canadians age 65 and older. Along with the Canada Pension Plan (CPP) and personal savings, OAS provides financial support for older Canadians. CPP and OAS payments are issued on the same dates.

OAS payment dates for 2025

January 29, 2025

February 26, 2025

March 27, 2025

April 28, 2025

May 28, 2025

June 26, 2025

July 29, 2025

August 27, 2025

September 25, 2025

October 29, 2025

November 26, 2025

December 22, 2025

Where does OAS money come from?

The money that funds the OAS comes from the federal government…

Ask MoneySense
Should you cash out some of your RRIF monies to pay down credit card debt or take out a loan at a bank or private lending? Thank you.

—Marcia E.

Does it make sense to pay off debt with savings or take out a loan?

Thank you for your question, Marcia. You’ve worked hard to save for retirement, but now you’re staring down a credit-card balance and wondering if your registered retirement income fund (RRIF) or other retirement savings could cover it. I hear this question a lot as a credit counsellor, and it’s one that comes with a lot of practical considerations and emotional weight. After years of saving for your retirement, using that money to deal with debt can feel like a big step, and it’s not always clear if it’s the best choice. I’ll walk you through what to know before dipping into your savings, including the financial impact and how different options might affect your future income and benefits. 

Comparing interest rates for debt vs…