Best High Interest Savings Accounts (HISA) in Canada for 2026
Find the best high-interest savings accounts in Canada with competitive rates, no hidden fees, and flexible access. Whether you’re saving for a short-term goal or just want better returns on your idle cash, ScoopRate makes it easy to compare and choose the right account for your needs.
Rates Last Updated: April 08, 2026
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Scotiabank Momentum PLUS Savings
New Account Offer: Earn a special 4.65% APY for 3 months! *Terms apply.
Promo Rate
4.65%
0.50%
Est. 1st Yr Return:C$16
Monthly Fee
C$0
Min. Balance
C$0
Key Features
Mobile & online banking access
Earn higher interest on your savings
Mobile cheque deposit
Protection
CDIC coverage up to $100K
HISA Features
- 🏦 Full-Service Bank: Offered by Scotiabank – accessible both digitally and through physical branches
- Welcome Offer: Earn a savings rate of 4.65% for your first 3 months when you open your first Scotiabank Momentum PLUS Savings Account. Enjoy even higher returns with an Ultimate Package at 4.75%, or 4.70% with a Preferred Package. Offer available to new Scotiabank Momentum PLUS clients only. Regular rate applies after the promotional period. Terms and conditions apply.
- Automatic Savings: Set up a recurring savings plan to grow your balance effortlessly
- Mobile & Online Banking: Transfer funds, view transaction history, and more using the Scotia mobile app or online banking
- Mobile Cheque Deposit: Take a picture of your cheque and deposit it directly into your account
- No Fees: Enjoy no monthly account fees and no minimum balance required
- Multi-Goal Savings: Save for multiple goals within a single account
- CDIC Coverage: Eligible for Canada Deposit Insurance Corporation (CDIC) protection up to $100,000 per depositor, per insured category
Eligibility Requirements
To open a Scotiabank Momentum PLUS Savings Account, you must:
- Be a resident of Canada
- Be at least 16 years of age
- Have a valid Social Insurance Number (SIN)
CIBC eAdvantage® Savings
New Account Offer: Earn a special 4.60% APY for 3 months! *Terms apply.
Promo Rate
4.60%
0.25%
Est. 1st Yr Return:C$14
Monthly Fee
C$0
Min. Balance
C$0
Key Features
Free unlimited CIBC transfers
Easy digital & ATM access
Earn high interest on every dollar
Protection
CDIC coverage up to $100K
HISA Features
- 🏦 Full-Service Bank: Offered by CIBC – accessible both digitally and through physical branches
- Welcome Offer: Earn 4.60% interest for your first 3 months when you open your first CIBC eAdvantage® Savings account. Offer available to new CIBC eSavings clients only. Regular rate applies after promotional period. Terms and conditions apply.
- Tiered Interest: Earn more as you save – higher balances receive higher regular interest rates
- Free Account Transfers: Instantly move funds between your CIBC personal deposit accounts, everyday
- No Minimum Balance: Open and maintain your account with no minimum deposit requirement
- Digital Banking Access: Manage your savings through CIBC Online, Mobile, and Telephone Banking
- Effortless Savings: Set up automatic transfers with AutoSave and grow your savings without thinking about it
- Smart Financial Insights: Use CIBC Smart Planner™ to track spending and stay on top of your saving goals
- CDIC Coverage: Eligible for Canada Deposit Insurance Corporation (CDIC) protection up to $100,000 per depositor, per insured category
Eligibility Requirements
To open a CIBC eAdvantage® Savings account, you must:
- Be the person opening the account (accounts cannot be opened on behalf of another individual)
- Be a resident of Canada
- Meet the minimum age requirement for your province or territory†
- Have a valid Social Insurance Number (SIN)
- Present valid government-issued photo ID for identity verification
†Age Requirements: Each province and territory has a minimum age requirement to open an account:
- Minimum Age 18: Alberta, Manitoba, Ontario, Prince Edward Island, Quebec, Saskatchewan
- Minimum Age 19: British Columbia, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Yukon
RBC High Interest eSavings Account
New Account Offer: Earn a special 4.60% APY for 3 months! *Terms apply.
Promo Rate
4.60%
0.65%
Est. 1st Yr Return:C$17
Monthly Fee
C$0
Min. Balance
C$0
Key Features
Earn high interest on every dollar
Free unlimited RBC transfers
Easy digital & ATM access
Protection
CDIC coverage up to $100K
HISA Features
- 🏦 Full-Service Bank: Offered by RBC Royal Bank – accessible both digitally and through physical branches across Canada
- Welcome Offer: Earn 4.60% interest for your first 3 months when you open your first RBC High Interest eSavings account. Offer available to new RBC eSavings clients only. Regular rate applies after promotional period. Promotion expires January 27, 2026. Terms and conditions apply.
- High Interest on Every Dollar: Earn a competitive rate on your entire balance
- Free RBC Account Transfers: Instantly move funds between your RBC personal deposit accounts, 24/7
- ATM Access: Includes 1 free RBC ATM cash withdrawal per month
- No Minimum Balance: Open and maintain your account with no minimum deposit requirement
- Digital Banking Access: Manage your savings through RBC Online, Mobile, and Telephone Banking
- Automated Savings: Set up recurring transfers with Save Matic™ to grow your savings effortlessly
- Financial Insights: Use MyAdvisor™ to track and manage all your savings and investments in one place
- CDIC Coverage: Eligible for Canada Deposit Insurance Corporation (CDIC) protection up to $100,000 per depositor, per insured category
Eligibility Requirements
To open a RBC High Interest eSavings account, you must:
- Be the person opening the account (accounts cannot be opened on behalf of another individual)
- Be a resident of Canada
- Be at least 13 years old (14 in Quebec)
- Have a valid Social Insurance Number (SIN)
- Present valid government-issued photo ID for identity verification
BMO Savings Amplifier
New Account Offer: Earn a special 4.55% APY for 120 days! *Terms apply.
Promo Rate
4.55%
0.70%
Est. 1st Yr Return:C$20
Monthly Fee
C$0
Min. Balance
C$0
Key Features
Unlimited no-fee transfers
Earn money when you save
No monthly fee or minimum deposit
Protection
CDIC coverage up to $100K
HISA Features
- 🏦 Full-Service Bank: Offered by BMO – accessible both digitally and through physical branches
- Welcome Offer: Earn a savings rate of 4.60% for your first 120 days when you open your first BMO Savings Amplifier Account and link it to a new Performance or Premium Chequing Account. Offer available to new BMO Savings Amplifier Account clients only. Regular rate applies after the promotional period. Terms and conditions apply.
- Seamless Digital Banking: Transfer funds, view transactions, and move money between BMO accounts anytime with unlimited self-serve transfers online, by mobile, or at ATMs
- Mobile Cheque Deposit: Deposit cheques quickly and securely from your phone
- No Fees or Minimums: Enjoy $0 monthly plan fees and no minimum deposit required to start saving
- Savings Goals: Use BMO Savings Goals in the mobile app to plan and track progress toward your financial targets
- Credit Monitoring: Check your credit score in minutes and track changes with BMO CreditView®
- CDIC Coverage: Eligible for Canada Deposit Insurance Corporation (CDIC) protection up to $100,000 per depositor, per insured category
Eligibility Requirements
To open a BMO Savings Amplifier Account, you must:
- Be a resident of Canada
- Be at least 16 years of age
- Have a valid Social Insurance Number (SIN)
Tangerine Savings Account
New Client Offer: Earn a special 4.50% APY for 5 months! *Terms apply.
Promo Rate
4.50%
0.30%
Est. 1st Yr Return:C$21
Monthly Fee
C$0
Min. Balance
C$0
Key Features
No Everyday Fees
No minimum balance
High Promotional Interest Rates
Protection
CDIC coverage up to $100K
HISA Features
- 💻 Digital-Only Bank: Offered by Tangerine – operates fully online with no physical branches.
- Welcome Offer: Earn 4.50% interest for your first 5 months when you open your first Tangerine Savings Account. Offer available to new Tangerine Savings Account clients only. Regular rate applies after the promotional period. Terms and conditions apply.
- Access: Clients get free access to the entire Scotiabank ATM network across Canada and the Global ATM Alliance worldwide.
- No monthly or surprise fees: You keep every dollar you save.
- Goal-setting tools: Track and manage your savings progress.
- Automatic Savings Program: Schedule deposits to grow savings effortlessly.
- Flexible Options: Available as a non-registered account, or within a TFSA, RSP, or RIF savings account.
- CDIC Coverage: Eligible for Canada Deposit Insurance Corporation (CDIC) protection up to $100,000 per depositor, per insured category
Eligibility Requirements
To open a Tangering Savings Account, you must:
- Be a resident of Canada
- Be at least 16 years of age
- Have a valid Social Insurance Number (SIN)
Simplii Financial High Interest Savings Account
New Client Offer: Earn a special 4.50% APY for 5 months! *Terms apply.
Promo Rate
4.50%
0.30%
Est. 1st Yr Return:C$21
Monthly Fee
C$0
Min. Balance
C$0
Key Features
No Everyday Fees
No minimum balance
High Promotional Interest Rates
Protection
CDIC coverage up to $100K
HISA Features
- 💻 Digital-Only Bank: Offered by Offered by Simplii Financial – A direct banking division of CIBC, that operates fully online with no physical branches
- Welcome Offer: Earn 4.75% interest for your first 5 months when you open your first Simplii Financial Savings Account. Offer available to new Simplii Financial Savings Account clients only. Regular rate applies after the promotional period. Terms and conditions apply.
- Access: Clients get free access to the entire CIBC ATM network across Canada
- Fees & Balance: No monthly fees and no minimum balance required
- Flexible Options: Available as a non-registered account, or within a TFSA or RRSP savings account
- No term limit: No term limit: Unlike GICs, your money isn’t locked in – you can withdraw or add funds whenever you like
- CDIC Coverage: Eligible for Canada Deposit Insurance Corporation (CDIC) protection up to $100,000 per depositor, per insured category
Eligibility Requirements
Oaken Financial High Interest Savings Account
Interest Rate
2.80%
Est. 1st Yr Return:C$28
Monthly Fee
C$0
Min. Balance
C$0
Key Features
Digital Banking
No Minimum Balance
High Daily Interest
Protection
CDIC coverage up to $100K
HISA Features
- 💻 Digital-Only Institution: Oaken Financial is the online division of Home Trust Company and Home Bank, offering savings accounts entirely through digital channels
- High Interest, Every Day: Your balance earns interest daily, credited monthly
- No Monthly Fees or Minimum Balance: The Oaken Savings Account has no monthly fees and no minimum balance requirement
- Free Transfers: Move funds easily between your Oaken accounts and your linked external account (via EFT)
- Flexible Account Options: Open as a non-registered account or within your RRSP, TFSA, or RIF
- CDIC Coverage: Accounts are issued through Home Bank or Home Trust Company. Both are independent CDIC members, with insured deposits up to $100,000 per depositor, per category
Eligibility Requirements
To open an Oaken Financial High Interest Savings Account, you must:
- Be the person opening the account (accounts cannot be opened on behalf of another individual)
- Be a resident of Canada
- Meet the minimum age requirement for your province or territory†
- Have a valid Social Insurance Number (SIN)
- Present valid government-issued photo ID for identity verification
†Age Requirements: Each province and territory has a minimum age requirement to open an account:
- Minimum Age 18: Alberta, Manitoba, Ontario, Prince Edward Island, Quebec, Saskatchewan
- Minimum Age 19: British Columbia, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Yukon
EQ Bank Personal Account
Interest Rate
2.75%
Est. 1st Yr Return:C$28
Monthly Fee
C$0
Min. Balance
C$0
Key Features
No everyday fees
Free ATM withdrawals
High interest on every dollar
Protection
CDIC coverage up to $100K
HISA Features
- 💻 Digital-Only Bank: EQ Bank operates entirely online with no physical branches
- Earn More, Effortlessly: Earn up to 3.00% interest per annum when you set up and maintain qualifying recurring direct deposits of at least $2,000/month. *Base rate is 1.00%; additional 2.00% bonus applies with qualifying deposits. Rates are per annum and subject to change without notice.
- No Monthly Fees or Minimum Balance: Enjoy unlimited free deposits and withdrawals with no minimum balance requirements.
- Interest Calculated Daily: Interest is calculated daily on the total closing balance and paid monthly.
- Free ATM Withdrawals: Access your funds with free withdrawals from any ATM in Canada
- Cash Back Rewards: Earn 0.5% cash back on domestic and international purchases with the linked EQ Bank Card. Cash back is paid monthly.
- Foreign Currency Transactions: Enjoy no foreign transaction fees; only Mastercard’s currency conversion rate applies.
- CDIC Coverage: Eligible for Canada Deposit Insurance Corporation (CDIC) protection up to $100,000 per depositor, per insured category.
Eligibility Requirements
To open an EQ Bank Personal Account, you must:
- Be the person opening the account (accounts cannot be opened on behalf of another individual)
- Be a resident of Canada
- Meet the minimum age requirement for your province or territory†
- Have a valid Social Insurance Number (SIN)
- Present valid government-issued photo ID for identity verification
†Age Requirements: Each province and territory has a minimum age requirement to open an account:
- Minimum Age 18: Alberta, Manitoba, Ontario, Prince Edward Island, Quebec, Saskatchewan
- Minimum Age 19: British Columbia, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Yukon
EQ Bank 30 Day Notice Savings Account
Funds accessible after 30 days’ notice
Interest Rate
2.75%
Est. 1st Yr Return:C$28
Monthly Fee
C$0
Min. Balance
C$0
Key Features
Earn High Interest Daily
Flexible 30-Day Withdrawal Notice
Free Unlimited Transfers
Protection
CDIC coverage up to $100K
HISA Features
- 💻 Digital-Only Bank: EQ Bank operates entirely online with no physical branches
- High Interest Rates: Earn 2.75% interest per annum – if you choose the 30-day notice periods *Rates are per annum and subject to change without notice.
- No Fees or Minimum Balance: Enjoy unlimited free deposits and withdrawals with no minimum balance requirements.
- Interest Calculated Daily: Interest is calculated daily on the total closing balance and paid monthly
- Flexible Withdrawal Options: Submit a withdrawal request and your notice period will start; access funds after 30 days
- CDIC Coverage: Eligible for Canada Deposit Insurance Corporation (CDIC) protection up to $100,000 per depositor, per insured category.
Eligibility Requirements
To open an EQ Bank 30 Day Notice Savings Account, you must:
- Be the person opening the account (accounts cannot be opened on behalf of another individual)
- Be a resident of Canada
- Meet the minimum age requirement for your province or territory†
- Have a valid Social Insurance Number (SIN)
- Present valid government-issued photo ID for identity verification
†Age Requirements: Each province and territory has a minimum age requirement to open an account:
- Minimum Age 18: Alberta, Manitoba, Ontario, Prince Edward Island, Quebec, Saskatchewan
- Minimum Age 19: British Columbia, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Yukon
WealthONE High Interest Savings Account
Interest Rate
2.60%
Est. 1st Yr Return:C$27
Monthly Fee
C$0
Min. Balance
C$0
Key Features
Earn High Interest Daily
Registered & non-registered accounts
Free Unlimited Transfers
Protection
CDIC coverage up to $100K
HISA Features
- 💻 Digital-Only Institution: Offered by WealthONE – fully online with no physical branches
- Earn High Interest Daily: Interest is calculated daily on the closing balance and paid monthly
- No Monthly Fees or Minimum Balance: Enjoy no monthly fees and no minimum balance requirement
- Free Transfers and Payments: Unlimited free EFTs to/from a linked external account, bill payments, and Interac e-Transfers (sending and receiving)
- Enhanced Security: Accounts are protected with mandatory 2-step verification (2SV) and strong password standards
- Flexible Account Options: Available as non-registered accounts, and registered savings within a RRSP or TFSA
- CDIC Coverage: Eligible for Canada Deposit Insurance Corporation (CDIC) protection up to $100,000 per depositor, per insured category
Eligibility Requirements
To open a WealthONE High Interest Savings Account, you must:
- Be the person opening the account (accounts cannot be opened on behalf of another individual)
- Be a resident of Canada
- Meet the minimum age requirement for your province or territory†
- Have a valid Social Insurance Number (SIN)
- Present valid government-issued photo ID for identity verification
†Age Requirements: Each province and territory has a minimum age requirement to open an account:
- Minimum Age 18: Alberta, Manitoba, Ontario, Prince Edward Island, Quebec, Saskatchewan
- Minimum Age 19: British Columbia, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Yukon
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Got Questions ?
We've compiled a list of Frequently Asked Questions (FAQs) below to address some common inquiries.
1. What is a High-Interest Savings Account (HISA)?
A HISA is a savings account that offers a significantly higher interest rate than a regular savings account, helping your money grow faster while remaining accessible.
2. Are HISAs safe?
Yes. Most HISAs from Canadian banks and credit unions are eligible for CDIC or provincial deposit insurance, which covers deposits up to $100,000 per category, per institution.
3. Are HISAs taxable?
Interest earned in a non-registered HISA is fully taxable as income. However, HISAs held within registered accounts like TFSAs allow your interest to grow tax-free.
4. Can I open a HISA within a TFSA or RRSP?
Yes. Many financial institutions offer registered HISAs, which combine the benefits of tax-sheltered growth with higher-than-average interest rates.
5. Do HISAs have any fees or restrictions?
Most HISAs are free of monthly fees, but some may have minimum balance requirements or limits on the number of transfers per month. Always review the account terms before opening.
Learn More About HISAs
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