Savers Roundup December 2025: Laurentian Bank and PC Financial get bought

Believe it or not, the best available savings account interest rate on our chart has gone up from last month! Saven Financial recently increased its regular savings account and TFSA interest rates to 2.85%, and is the outright leader outside of promotional rates. There is also a growing number of direct deposit and tiered rates, including:

• 3.00% from Neo Financial if you have over $20,000
• 2.90% from PC Financial for 12 months if you have an eligible direct deposit
• 2.75% from EQ Bank if you have an eligible direct deposit

Regarding promotional rates, among those we track is a targeted one for existing customers from TD Bank, which is offering 4.90%! Forum users have reported that this is the only promo rate they’ve received from TD Bank in the past 40 years.

Some GIC rates have even increased lately, although the top available rate for a 5-year GIC has decreased to 3.80% (where there is a 4-way tie).

An olive branch for former Motive Financial customers

The sentiment of our forum users on the Motive Financial migration to National Bank has been largely negative. However, former Motive Financial customers did receive a surprising bit of good news: the monthly fees on their National Bank hybrid chequing savings account are being waived indefinitely, whereas National Bank had previously advertised that they would waive the fees for the first year only.

Laurentian Bank and PC Financial to be acquired

Still reeling from the Motive Financial acquisition? Two more banks will disappear from our savings account comparison chart in the future.

Laurentian Bank has been sold, with its retail operations going to National Bank.

And PC Financial, whose PC Money account only made it to our chart last year, has been bought by none other than EQ Bank. As part of the announcement, PC Financial will transition to the EQ Bank brand over time. EQ Bank is not taking over the PC Optimum rewards program, but will become PC Optimum’s exclusive financial partner.

54% of last month’s poll respondents do not use a commission-free online brokerage