Amidst a turbulent first quarter of 2026, who would have thought you’d find dependability in… Canadian high interest savings accounts? Saven Financial has been the non-promotional rate leader all year at 2.85%, and no rates on our chart have changed in 2026.
GICs vs promo hopping: some quick math
3.65% is currently the highest 1-year non-registered GIC rate that we track (from Wealth One Bank of Canada). That gives you a guaranteed rate, but your money is locked in for the year. Is promo hopping a more flexible, although decidedly less guaranteed alternative for your savings?
The highest promotional savings account interest rate that we track is currently 4.80% through Vancity, although that rate ends on April 30. There are always various targeted promos for existing customers – current ones include 4.25% for 3 months at Tangerine, 4.30% for 3.5 months at Coast Capital Savings, and 4.60% for 2 months at RBC.
If you were able to get a promo rate of 4.25% for half the year, and 3.00% for the other half of the year (which is Neo Financial’s savings account interest rate if you have over $20,000) that gives you an average of 3.69% for the year when monthly compounding is factored in.
Of course, that alternative seems much less worth the hassle if you’re willing to lock your money into a 5-year GIC, where EQ Bank is currently offering 4.00%.
Managing debt in your 20s
Our student writer Lena M is back, exploring the topic of debt: student loans, credit cards, lines of credit, and more. Back in 2024 she got her first credit card and now has some firsthand experience to share about not just the logistics around credit cards, but also the psychological aspects. It can be a lot for a young person to navigate, alongside managing student loans; in her latest article, she shares quite a few practical tips related to debt.
Bank hopping, social hopping, and… taxes
- Forum discussion: Moving away from the big 5 banks
- Did you miss our Instagram Easter giveaways? Follow along for personal finance tips throughout the year, and perhaps more contests to come!
- Check out our income tax filing forum to compare notes on T slips, income tax software, and the slow demise of paper filing. Last month’s poll results revealed that 43% of respondents had already filed their taxes or that they were planning to do so by the end of March. 55% were planning to do so by the end of April, while 2% were planning to file their taxes starting in May. The most common delay cited was around waiting for the arrival of T3 slips.
- Looking for a credit card that does not charge foreign currency exchange fees? Check out our cash back website, which features several such cards, including the Scotiabank Passport Visa Infinite Card.
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