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.

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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.

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