YNCU (Ontario only) currently has a 4.50% 4-month GIC offer on new deposits. The offer is available to both new and existing members, with a minimum deposit of $1,000. Since it’s a GIC, your money is locked in for the full 4-month term, unlike a high interest savings account where you can withdraw funds at any time. But this easily beats the current top 1-year GIC rate of 3.65% at MCAN Financial as well as the top savings account interest rate of 2.85% at Saven Financial.
Manulife Bank has a new twist on the promo game: it’s offering 3.00% on new deposits for a whopping 2 years in non-registered Advantage Accounts opened by September 10, 2026.
Tiered rates are trending
Neo Financial had been offering 3.00% in a savings account if you had at least $20,000. But as of June 24, that has decreased to 2.75%, and its base interest rate is down from 2.25% to 2.00%. On a positive note, they also announced joint chequing accounts, which is always a popular feature with our users.
WealthONE joined the tiered rate party as of July 1. The bank kept its base rate unchanged at 2.60%, meaning no customer is worse off so far under the new structure. If your savings account balance is at least $10,000, you’ll earn 2.75%; if your balance is at least $25,000, you’ll earn 3.00%. Existing accounts were automatically moved to the new system, so no action was required.
For comparison, EQ Bank is offering 2.75% if you have an eligible direct deposit, and KOHO is offering 3.50% if you’re on its paid $14.75 monthly plan.
5 mistakes that first time savers make
Our student writer Lena M’s latest article shares some lessons about savings and chequing accounts that are applicable to savers of all ages. Do you leave excess money sitting in your chequing account? Do you leave money sitting in a low interest savings account after a promo rate has expired? Do you have too many bank accounts without a defined purpose for each account?
Tangerine’s new credit card
Tangerine has released a new credit card: the Tangerine® Rewards World Elite®* Mastercard®*. It is Tangerine’s first card with an annual fee ($120) but comes with a bonus of 30,000 Scene+ points if you spend at least $3,000 in the first 3 months, and an additional 10,000 Scene+ points if you spend at least $30,000 in the first year. The base earn rate is 1.5x Scene+ points per dollar spent in 3 out of 13 spending categories of your choice, and 1x Scene+ point per dollar spent on all other purchases. Other benefits include discounts at Shell (up to 7 cents per litre in instant fuel discounts for a limited time and earn up to 3 Scene+ points per litre with an eligible Tangerine payment card linked to a Shell Go+ Account) and 4 complimentary lounge passes per year. We’re also offering $125 via Interac e-Transfer or a $125 Amazon.ca gift card if you sign up through our cash back website.
Wealthsimple no-fee 1% cash back Visa coming?
A no-fee 1% cash back credit card beats most such cards in Canada other than the Rogers Mastercards. What makes the Wealthsimple card a little different is that cardholders can choose 3 perks from a list of options, including things like no foreign transaction fees, travel insurance, mobile device insurance, rental car coverage, and airport lounge discounts. Once selected, those perks are locked in for 12 months.
The card also includes the standard Visa Infinite benefits such as concierge service, hotel perks, purchase protection, and extended warranty coverage. The card is currently being tested with a limited number of users and there is no official launch date yet.
EQ Bank acquired PC Financial: what’s next?
EQ Bank’s parent company, EQB, has officially acquired PC Financial in a deal worth about $800 million. The deal was first announced in December 2025 and officially closed on July 1. EQB has added approximately 2 million PC Financial customers to its existing customer base, bringing the combined total to around 3.3 million customers. One of the biggest parts of the deal is that EQB will become the exclusive banking partner of the PC Optimum program (which remains owned by Loblaw), which has over 18 million members across Canada. EQB says the acquisition will give it access to PC Financial’s credit card business, more than 600 ATMs, and marketing opportunities through roughly 2,500 Loblaw-owned stores like Real Canadian Superstore, No Frills, and Shoppers Drug Mart.
For now, nothing is changing with the PC Money Savings Account. The account continues to exist with rates and fees remaining as-is. Existing accounts, credit cards, rewards, and PC Optimum points continue to work as usual. Over time, EQ Bank customers may see more opportunities to earn PC Optimum points through banking products, while PC Financial customers could gain access to EQ Bank’s savings accounts, GICs, TFSAs, and other digital banking services. EQB says the goal is to create a stronger alternative to Canada’s big banks by combining EQ Bank’s digital banking platform with PC Financial’s large customer base and loyalty ecosystem.
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