Comparison chart

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Last updated: August 12, 2022

This chart summarizes Canadian high interest savings account rates and is for informational purposes only. The rates are subject to change and there are more features to an account than its rate. Always be sure to check the specific banks’ / financial brands’ websites and do your research about a bank account! See also the GIC comparison chart.

Please post any errors in the forum and they will be corrected ASAP.

Click on a rate to see the rate history. Rates are listed when perceived on this site as being changed. Exact dates of change will vary. If a rate change was announced in advance, the chart will show the rate up to two weeks in advance.

CU = Credit Union, insured by the relevant province’s credit union deposit insurance rather than the CDIC
Excl = Provincial exclusions
* Bridgewater Bank has no online banking interface
** Neo Financial has a mobile app but its browser-based online banking portal is limited. You can transfer money to and from external accounts in the browser-based online banking portal. To send Interac e-Transfers and make bill payments, you must use its mobile app.
*** Peoples Bank has the same parent company as Peoples Trust and offers the same interest rates
General criteria for inclusion on the chart

Recent changes

• August 10: Neo Financial increases its regular savings account interest rate from 1.80% to 2.25%
• August 9: Wyth Financial increases its regular savings account interest rate from 1.80% to 2.25%
• August 8: Bridgewater Bank increases its regular savings account interest rate from 2.25% to 2.60%
• August 8: Canadian Tire Bank increases its regular savings account and TFSA interest rate from 1.45% to 2.40%
• August 3: MAXA Financial increases its regular savings account and TFSA interest rate from 2.00% to 2.15%
• July 28: Outlook Financial increases its regular savings account and TFSA interest rate from 2.40% to 2.50%
• July 26: motusbank increases its regular savings account and TFSA interest rate from 1.55% to 1.85%
• July 22: Bridgewater Bank increases its regular savings account interest rate from 1.70% to 2.25%
• July 22: Ideal Savings increases its TFSA interest rate from 2.06% to 2.60%
• July 21: Peoples Trust increases its regular savings account and TFSA interest rate from 1.80% to 2.25%
• July 20: MAXA Financial increases its regular savings account and TFSA interest rate from 1.70% to 2.00%
• July 20: Wealth One Bank of Canada increases its regular savings account and TFSA interest rate from 1.80% to 2.60%
• July 19: Oaken Financial increases its regular savings account interest rate from 1.65% to 2.25%
• July 18: Outlook Financial increases its regular savings account and TFSA interest rate from 1.80% to 2.40%
• July 18: Motive Financial increases its regular savings account and TFSA interest rate from 2.20% to 3.00%
• July 15: AcceleRate Financial increases its regular savings account and TFSA interest rate from 2.05% to 2.60%
• July 15: Hubert Financial increases its regular savings account and TFSA interest rate from 2.05% to 2.60%
• July 14: Achieva Financial increases its regular savings account and TFSA interest rate from 1.80% to 2.40%
• July 6: Alterna Bank increases its regular savings account and TFSA interest rate from 1.25% to 1.50%
• July 2: Peoples Trust increases its regular savings account and TFSA interest rate from 1.60% to 1.80%
• July 1: Saven Financial increases its regular savings account interest rate from 2.40% to 2.85%
• June 27: Motive Financial increases its regular savings account and TFSA interest rate from 2.00% to 2.20%
• June 27: Oaken Financial increases its regular savings account interest rate from 1.60% to 1.65%
• June 24: EQ Bank increases its regular savings account and TFSA interest rate from 1.50% to 1.65%
• June 22: Neo Financial increases its regular savings account interest rate from 1.60% to 1.80%
• June 17: Alterna Bank increases its regular savings account and TFSA interest rate from 0.90% to 1.25%
• June 17: Wyth Financial increases its regular savings account interest rate from 1.60% to 1.80%
• June 14: Bridgewater Bank increases its regular savings account interest rate from 1.50% to 1.70%
• June 13: Neo Financial increases its regular savings account interest rate from 1.45% to 1.60%
• June 10: Wealth One Bank of Canada increases its regular savings account and TFSA interest rate from 1.60% to 1.80%
• June 9: MAXA Financial increases its regular savings account and TFSA interest rate from 1.60% to 1.70%
• June 9: Hubert Financial increases its regular savings account and TFSA interest rate from 1.70% to 2.05%
• June 9: motusbank increases its regular savings account and TFSA interest rate from 1.50% to 1.55%
• June 8: Ideal Savings increases its TFSA interest rate from 1.76% to 2.06%
• June 6: AcceleRate Financial increases its regular savings account and TFSA interest rate from 1.70% to 2.05%
• June 6: Outlook Financial increases its regular savings account and TFSA interest rate from 1.60% to 1.80%
• June 3: Motive Financial increases its regular savings account and TFSA interest rate from 1.75% to 2.00%
• June 3: Achieva Financial increases its regular savings account and TFSA interest rate from 1.50% to 1.80%
• June 1: Canadian Tire Bank increases its regular savings account and TFSA interest rate from 1.10% to 1.45%