Savers Roundup September 2025: Ways to beat inflation; rate cuts are coming; Wealthsimple security breach

The leaders on our savings account comparison chart are unchanged at 3.10% (at PC Financial and Wealth One Bank of Canada). However, EQ Bank’s ongoing “with an eligible direct deposit” rate was recently decreased from 3.50% to 3.30%. This is noted on our promotions page along with some higher rates for short-term promos, including:

CIBC: 4.90% in a new eAdvantage savings account for the first 3 months
Manulife Bank: 4.75% for 120 days in a new, non-registered Advantage Account opened between September 10 and November 21, 2025
RBC new customers: 4.70% for 3 months in your first RBC High Interest eSavings account if opened before 3pm ET on October 29, 2025
Vancity (BC only): 4.75% on new deposits to a savings account until October 31, 2025

Ways to beat inflation: new article

Our latest article is: Inflation, the silent investment killer: ways to keep more of your cash. The author, Rico M, tries to answer the question “How does someone protect more of their money from inflation to get more cents for their dollar?”. He starts off by defining inflation, reviewing the different causes and types of inflation. Then, he explores whether savings accounts and GICs outperform inflation, and if so, by how much. Finally, he explores whether equities and index funds are alternatives to consider.

The next key interest rate decision for both Canada and the US is scheduled for September 17, and cuts are forecast for both countries. Such cuts would trigger decreases in savings account and GIC rates.

Poll results: Do you invest in mutual funds or ETFs?

According to last month’s reader poll, 60% of respondents invest in ETFs in some way. The breakdown of answers is as follows:

Yes, mutual funds only (11%)
Yes, ETFs only (38%)
Yes, both mutual funds and ETFs (22%)
No (29%)

There were a few common themes in the written responses. Those who don’t invest in mutual funds and/or ETFs are usually invested in individual stocks, savings accounts, or GICs, with the latter group especially interested in capital preservation (usually due to their age) and avoiding volatility. There were quite a few comments noting that they eschew mutual funds or are transitioning away from them due to their relatively higher management fees.