Benchmark MoneyCanada

Best High Interest Savings Accounts in Canada

The rate on a savings account is the whole product, and it is also the number most likely to be a limited time offer wearing an ordinary name. Every rate here is labelled as posted or promotional, because those are not the same promise.

We track 55 high interest savings accounts from 34 institutions, 44 of them with no monthly fee. Every figure here comes from the institution’s own published pages and fee schedules, last checked 19 August 2026. Where an institution does not publish something we leave it blank rather than guess, which is explained on how we research.

How We Picked

  • The rate the institution publishes, with promotional rates marked as promotional and shown with their end date where one is published.
  • What the rate is conditional on. A headline rate that needs new money, or a minimum balance, or a chequing account at the same bank, is a rate with a price on it.
  • The monthly fee, which most savings accounts do not have and a few do.
  • Whether deposits are insured, and by whom. CDIC covers banks; provincial insurers cover credit unions on different terms.

The 10 Best High Interest Savings Accounts

  1. BMO Savings Amplifier Account

    BMO · 5% promotional rate until 31 August 2026 · No monthly fee

    The rate is conditional: BMO's promotional terms document states a promotional interest rate component of 4.550% which, combined with the 0.450% posted interest rate, produces a total 5.000% rate as of the offer date. Promotional period is stated as 04/AUG/2026, 31/AUG/2026. Unlimited no-fee self-serve transfers to other BMO accounts (digital/ATM $0); cash withdrawals $5; branch or Virtual Connect transfers $5; pre-authorized debits $5.

    Everything published about the BMO Savings Amplifier Account

  2. Scotiabank MomentumPLUS Savings Account

    Scotiabank · 4.65% promotional rate · No monthly fee

    The rate is conditional: 0.40% regular interest rate on an eligible deposit. Additional Premium Period interest is earned by leaving a deposit untouched for a chosen period: 90 days 0.20%, 180 days 0.25%, 270 days 0.30%, 360 days 0.45%. Limited time promotional savings rate of 4.65% with a 90 day premium period. Separate welcome bonus of 4.05% on eligible deposits for the first 3 months for new customers. Banking package boosts: Ultimate Package +0.10%, Preferred Package +0.05%. No ABM or point of sale access and no automated direct bill payment.

    Everything published about the Scotiabank MomentumPLUS Savings Account

  3. ATB Financial Springboard Savings Account

    ATB Financial · 4.6% promotional rate until 30 September 2026 · No monthly fee

    Open only to residents of Alberta. The rate is conditional: Base tiers: 0.20% on $0 to $4,999.99; 0.50% on $5,000 to $249,999.99; 0.60% on $250,000+. Bonus 4.00% on net new deposits, capped at $1,000,000, promo period July 6, 2026, September 30, 2026 (total up to 4.20%/4.50%/4.60% by tier).

    Everything published about the ATB Financial Springboard Savings Account

  4. RBC High Interest eSavings

    RBC Royal Bank · 4.6% promotional rate until 27 October 2026 · No monthly fee

    The rate is conditional: Promotional 4.60% paid for 3 months; offer expires 3pm EST on October 27, 2026. After the promotional period the regular 0.550% rate applies. One free RBC ATM cash withdrawal per month; additional ATM withdrawals $5.00 each; Interac e-Transfer $1.00 each; cross border debit $1.00 each; non-RBC Interac ATM $2.00; PLUS System $3.00 (Canada/U.S.) or $5.00 outside.

    Everything published about the RBC High Interest eSavings

  5. Simplii Financial High Interest Savings Account

    Simplii Financial · 4.6% promotional rate until 31 October 2026 · No monthly fee

    The rate is conditional: Promotional 4.60% for 153 days (about 5 months) from account opening, on balances up to $200,000, new clients only (no prior Simplii relationship, first HISA opened within 60 days of Client Number creation). The 4.60% is regular interest plus promotional interest. Offer period August 1, 2026 to October 31, 2026.

    Everything published about the Simplii Financial High Interest Savings Account

  6. Steinbach Credit Union Daily Growth Savings Account

    Steinbach Credit Union · 4.6% promotional rate · Monthly fee not published

    Open only to residents of Manitoba. The rate is conditional: Standard rate 1.50%. A special pays 4.60% on the first $500,000 and 1.50% on the balance above that. Rates page effective December 18, 2025; no promo end date published.

    Everything published about the Steinbach Credit Union Daily Growth Savings Account

  7. ATB Climber Savings Account

    ATB Financial · 4.5% promotional rate until 30 September 2026 · No monthly fee

    Open only to residents of Alberta. The rate is conditional: Base 0.30% plus a climbing premium that resets on withdrawal: 0.00% (0 to 29 days), 0.20% (30 to 89), 0.25% (90 to 179), 0.40% (180 to 269), 0.50% (270 to 359), 0.60% (360+). Welcome bonus 4.00% for the first 90 days, promo period July 6, September 30, 2026.

    Everything published about the ATB Climber Savings Account

  8. Tangerine Savings Account

    Tangerine · 4.5% promotional rate · No monthly fee

    The rate is conditional: Promo 4.50% for 153 days (about 5 months) for new Tangerine Clients only, max $1,000,000 per eligible Savings Account type; reverts to posted rate after. Offer start/end dates render as unresolved placeholders on the page.

    Everything published about the Tangerine Savings Account

  9. Vancity Jumpstart High Interest Savings

    Vancity · 4.5% promotional rate · No monthly fee

    Open only to residents of Must be a resident of British Columbia. A credit union, so opening the account means buying a membership share of $5.00. The rate is conditional: Posted rate 0.60% effective Feb 6, 2026. New member promo: up to +3.90% bonus for 90 calendar days on new funds, max $1M; account must be opened within 30 days of a new personal membership opened after Jan 5, 2026; BC resident with SIN and $5 membership share. Promo rates: 4.50% non-registered, 4.60% TFSA/RRSP.

    Everything published about the Vancity Jumpstart High Interest Savings

  10. Manulife Bank Advantage Account

    Manulife Bank · 3% promotional rate until 11 September 2026 · No monthly fee

    The rate is conditional: Promotional 3.00% (1.50% regular + 1.50% promotional) on net new deposits, for 730 days, on new personal non-registered CAD Advantage Accounts opened between July 2, 2026 and September 11, 2026; maximum $500,000 net new deposits; one per client; not combinable with other promotions.

    Everything published about the Manulife Bank Advantage Account

The Other 45

Every savings account we track, in the same order. An account outside the top ten is not a bad account; it is one that lost to the accounts above it on the criteria at the top of this page.

Common Questions

How many high interest savings accounts are there in Canada?
We track 55 of them. That is what we have verified against the institution's own pages, not a claim about every account that exists, and the number moves as accounts are added and withdrawn.
What is the highest savings rate in Canada right now?
The highest we have on file is 5% on the BMO Savings Amplifier Account, which is a promotional rate rather than the posted rate. A promotional rate ends, and what matters afterwards is the rate underneath it. Rates move, and the date each one was checked is shown on the account.
Is a promotional rate worth chasing?
It depends entirely on how long it runs and what it applies to. Several offers here apply only to money that is new to the institution, which means moving an existing balance between your own accounts earns the ordinary rate. Every promotional rate on this page is labelled as promotional and carries its end date where one is published.
Can the monthly fee be waived?
On 1 of these the institution publishes a balance that waives the fee. It is worth doing the arithmetic before treating that as free: money kept still to avoid a $16 fee is money earning nothing, and $4,000 in a savings account at 3% would have earned more than the fee costs.
Are unlimited transactions worth paying for?
6 of the accounts here include unlimited transactions. Only if you would otherwise go over the limit on a cheaper account. Extra transactions typically cost around $1.25 each, so an account including twelve of them costs the same as an unlimited one somewhere around the thirtieth transaction of the month. Below that the cheaper account wins, above it the unlimited one does.
Is my money safe at these institutions?
Bank deposits are insured by CDIC and credit union deposits by a provincial insurer, on different terms. A few products in our database are money services businesses rather than banks, and those are flagged on the account itself, because the account looks the same and the protection is not.

Other Lists

Comparing something other than high interest savings accounts? Compare every account on the way you actually bank, or browse the full directory.

When a Rate Changes, Know About It

Fees, interest rates and welcome offers move without announcement. We check them anyway, so the email is simply what changed, with the old figure and the new one. Twice a month at most, and nothing in a quiet month.

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