Best high-interest savings accounts in Canada 2022 + MORE Oct 5th

All about Retirement Planning in Canada. Learn the ins and outs and get the latest news.
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“What type of content am I reading?” + MORE Nov 23rd

You can always tell by how an article is labelled what type of content you’re reading. The label appears not only on the article itself, but anywhere it appears on the website. No label. If the only label you see is a topic tag, such as Investing or Retirement, that means you’re reading a purely.... More »

How do the RRSP contribution carry forward rules work? Nov 2nd

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2022 Income Tax: New tax credits for Canadians Nov 30th

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TFSA contribution room calculator + MORE Jan 11th

Find out your current tax-free savings account (TFSA) contribution limit by using this calculator. TFSA is a bit of a misnomer. While you can use it for straightforward savings, think of it more accurately as an investment holding account to store things like exchange-traded funds .... More »
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 is a no-brainer.

However, when shopping for an account, there’s more to consider than just the interest. You can make an informed decision by using the finder tool to compare the fees and features of several different options available. But do scroll down to read our seven editors’ picks for the best high-interest savings accounts (HISA) in Canada.

These are rates offered by Ratehub partners. You can find information about additional product options below.


You can compare high-interest rates in the table above or input your estimated account balance to compare the growth between HISAs, tax-free savings accounts, registered retirement savings plans and youth savings accounts.

Our pick for the best high-interest savings accounts in Canada for 2022

Best high-interest savings account rate: Saven Financial High Interest Savings Account ;Motive Savvy Savings Account
Best for interest rates and no service fees: EQ Bank Savings Plus Account
Best regular interest rate at a credit union: Maxa Financial High-Interest Savings Account
Best e-savings account: Neo Money Account
Best regular interest rate in a hybrid account: Wealthsimple Cash
Best promotional rate: Meridian Credit Union; Tangerine Savings Account; Simplii Financial
Honourable mention: Simplii Financial High Interest Savings Account
Best tiered interest product: Scotiabank MomentumPlus Savings Account

Best high-interest savings account rate: Saven Financial High Interest Savings Account*

This HISA may sneak under the radar, but once you see the rate you will be impressed…

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As inflation soars, how can I protect my retirement nest egg from losing value?The best way to fight inflation is to make sure your portfolio is earning higher returns than the inflation rate.

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