Best high-interest savings accounts in Canada

Jul 11 14:07 2019 Print This Article

How to use this tool: You can simply scan the table below to view interest rates offered by financial institutions across Canada. Or, input your estimated account balance and compare between high-interest savings accounts (HISA), tax-free savings accounts (TFSA*), registered retirement savings plan accounts (RRSP*) and youth savings accounts. This finder ranks savings accounts by their first year return based on the information you’ve keyed in, to help you find the best account for your financial needs.

Regular savings accounts offer very low interest rates, so if you want to earn on your deposits (rather than simply use your account as a temporary “holding tank” for funds you’ll soon be using for purchases, or directing to longer-term saving and investing vehicles), a high-interest savings account is a no-brainer. When shopping for the best product for your needs, there’s more to consider than just the interest rate. So you can make an informed decision, in addition to using the finder tool to compare the fees and features of several different options available, you can scroll down to read six editors’ picks for the best high-interest savings accounts in Canada.

Read More

About Article Author

Money Sense

MoneySense is a Canadian personal finance and lifestyle magazine published by Rogers Publishing Limited, a division of Rogers Communications.Written for Canadians who want to take financial control of their lives, MoneySense is Canada's best-selling investment and lifestyle magazine, helping readers make smart, informed decisions about how to get the most from their money. The magazine has received many awards, including multiple National Magazine Awards and CFA Society Toronto Awards.

Related Items

Converge Technology Solutions is aligned with IT spending trends, Paradigm says

Cloud and software sales should accelerate over the second half of the year for hybrid IT solutions provider Converge Technology Solutions (Converge Technology Solutions Stock Quote, Chart, News TSXV:CTS). That’s according to Paradigm Capital analyst Kevin Krishnaratne, who Friday provided an upd ...

ProntoForms still has room to climb, Beacon says

It’s full speed ahead for ProntoForms Corporation (ProntoForms Corporation Stock Quote, Chart TSXV:PFM), according to Beacon Securities analyst Gabriel Leung who on Thursday reviewed the company’s latest quarterly results and reaffirmed his “Buy” rating and C$0.85 target price. Ottawa-based ...

Study says fintech startups vulnerable to web or mobile app attacks

The number of fintechs challenging traditional finance institutions is increasing but the web and application security still needs to improve ...

5 from 5i: Commodities: The worst performing asset class in five years

Weekly stock market update & five stock related articles we thought were a must-read this week ...

8 Lessons I Learned from One of My Worst Dividend Growth Investments, A 5-Part Series. Lessons 1 & 2

Disclosure: Some of the links below are affiliate links (AL), meaning, at no additional cost to you, I will earn a commission if you click through and make a purchase. See disclaimer. They say the hardest lessons in life are learned through experience. Well let’s just say a 38.6% loss in about ...

How to tell if you’re over-using credit—and get it under control

According to the latest report from Statistics Canada, the average Canadian owes more than $23,000 of non-mortgage debt. Even our seniors (those 65-plus) are taking debt into retirement and owe on average $16,000 of non-mortgage debt. The reality is that we’ve become comfortable carrying debt and ...

Getting a head start on their golden years

Q. I am 47 years old and my wife is 46. We plan on retiring at age 50 which is very soon for both of us. I wanted to share my plan and see if the numbers I have crunched are correct. Our home is worth $700,000 and are aggressively paying down the remaining $140,000 on our mortgage so we will own th ...

Copper Pipe Is Failing - Don't Get Flooded!

Copper continues to be an indicator of global macro trends. Like a bad movie, the plot keeps getting worse. Below is a chart of the big miners going back to November 2018. There's no magic reason for selecting that date other than it was 200 days ago. Notice how the Australian companies (BHP and ...

From Trade War to Currency War?

Fred Imbert of CNBC reports the Dow plummets more than 600 points after Trump orders US manufacturers to leave China:Stocks plunged on Friday after President Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China. Apple led the way lower. The Dow Jones Industri ...

The moment

Elke “Wieselblitz” Vogelsang photo . By coincidence, not design (honest), the last two posts told you not to set your pants on fire, remain calm, go for a tummy rub and be a long-term thinker instead of a timorous chicken. How’s that for mixed images? But you know what I mean. Just chill. Es ...

Canadian researchers develop bone implant material from cellulose nanocrystals (CNC) while Russian scientists restore internal structure of bone with polycaprolactone nanofibers

Two research groups are working to the same end where bone marrow is concerned, encourage bone cell growth, but they are using different strategies. University of British Columbia and McMaster University (Canada) Caption: Researchers treated nanocrystals derived from plant cellulose so that they c ...

Prices: A Week in a Day

The pattern has been repeated.  The Federal Reserve, to which he appointed the Chair, and several Governors does not move as quickly as the President wants on monetary policy. He responds by escalating the trade tension, delivering the independent central bank a fait accompli.  Increasing the t ...

State of the Stock Market - Meet Mr. Split

The performance for the S&P 500, S&P Mid-Cap 400 and S&P Small-Cap 600 over the last 3, 6, 9 and 12 months pretty much says it all. The S&P 500 is positive on all four timeframes, the S&P Small-Cap 600 is negative on all and the S&P Mid-Cap 400 is mixed. Mr. Market is about as split as can be. The ...

TD.PF.M & CM.PR.Y: Still Expensive

Assiduous Reader coolmesh asked on the August 20 post: I’ve been watching TD.PF.M getting hammered the last four weeks. Good rate, good reset rate and good quality company. Any thoughts on what’s going there? TD.PF.M is a FixedReset 5.10%+356, NVCC, that commenced trading 2019-6-4 after being a ...

Barrick to invest $34 million to extend Veladero’s mine life

Barrick Gold’s (TSX:ABX)(NYSE:GOLD) CEO, Mark Bristow, announced this weekend that the company is planning to invest $34 million in its Veladero operation in western Argentina with the idea of extending the mine’s life until 2028.  googletag.cmd.push(function() {googletag.display('div-gpt-ad-1 ...