What is the best savings account rate in Canada right now?

As of August 2026, RBC offers 4.60% on their High Interest eSavings. This table is updated weekly.

A HISA (High Interest Savings Account) is a savings account that pays a significantly higher rate than a standard savings account, with no lock-in period.

How often are these rates updated?

Rates on this page are verified and updated every week. Always check directly with the bank before opening an account.

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Best Savings Account Rates in Canada 2026

Compare the highest HISA rates available today. Sorted by highest rate first.

✓ Rates verified Last updated July 30, 2026 · Updated weekly

Bank	Account	Interest Rate	Min Balance	Notes
RBC Best Rate	High Interest eSavings	4.60% PROMO	None	4.60% promo for 3 months — new accounts only (offer expires Oct 27, 2026). Standard rate: 0.55%.
KOHO	KOHO Savings	3.50%	None	Up to 3.5% on Everything plan ($19/mo); Extra plan ($9/mo) earns 2.5%; free Essential plan earns 2%
Oaken Financial	Oaken Savings Account	2.80%	None	Division of Home Trust
EQ Bank	Personal Account	2.75%	None	No monthly fees, no minimums
Neo Financial	Neo Savings account	2.75%	None	Min. combined balance required for 3.0% rate — see Neo app for details
BMO	Smart Saver Account	2.50%	None	Minimum balance may apply
Wealthsimple	Cash Account	2.25%	None	Premium plan earns more
Tangerine	Savings Account	2.00%	None	Promo rates available for new clients
CIBC	eAdvantage Savings Account	0.01% PROMO	None	4.60% promo for 3 months — new accounts only. Standard rate: 0.01%.
Scotiabank	Momentum PLUS Savings	0.01%	None	Bonus rate for 90-day periods
Simplii Financial	No-Fee Savings Account	0.01%	None	Promo rates for new deposits
TD Bank	TD eSavings Account	0.01%	None	Standard rate — promo rates vary

Bank	Account	Interest Rate	Min Balance	Notes
Oaken Financial Best Rate	TFSA Savings Account	2.80%	None	CDIC insured
EQ Bank	TFSA Savings Account	1.50%	None	Tax-free growth

Bank	Account	Interest Rate	Min Balance	Notes
EQ Bank	RSP Savings Account	1.50%	None	Tax-sheltered growth

Bank	Account	Interest Rate	Min Balance	Notes
National Bank	Total Chequing Account	0.01%	None	Standard savings interest

Disclaimer: Rates shown are for informational purposes only and may differ from current advertised rates. Always verify directly with the bank before opening an account. Promotional rates are time-limited and subject to conditions. ilovemoney.net is not affiliated with any bank listed above.

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