Top 7 High‑Interest Savings Accounts in Canada (2025)

Looking for a safe place to grow your savings with minimal risk? High‑Interest Savings Accounts (HISAs) offer the best of both worlds—liquidity and interest earnings. Here’s a breakdown of the top 7 HISAs available in Canada right now, including promotional and regular rates, plus what makes each one stand out.

1. Scotiabank MomentumPLUS Savings Account

• Interest Rate: Up to 5.00% promotional rate for the first 3 months.

• Regular Rate: Drops to around 0.55% after the promo period.

• Highlights:

  • No monthly fees

  • Ideal for short-term saving goals

  • Online access only

2. CIBC eAdvantage Savings Account

• Interest Rate: Up to 4.90% promotional rate for new account holders.

• Regular Rate: Base rate around 0.25%, with bonus options.

• Highlights:

  • No monthly fees

  • Tiered bonus interest for larger balances

  • Transfer fees may apply

3. BMO Savings Amplifier Account

• Interest Rate: Up to 4.75% for around 120 days with qualifying setup.

• Regular Rate: Significantly lower after promo ends.

• Highlights:

  • No monthly fee

  • Must open both savings and chequing accounts

  • Good for promotional stacking

4. RBC High Interest eSavings Account

• Interest Rate: Up to 4.70% for first 90 days.

• Regular Rate: Around 0.75% after that.

• Highlights:

  • No monthly fee

  • Convenient for existing RBC clients

  • Limited free transfers

5. Tangerine Savings Account

• Interest Rate: Up to 4.50% for the first 5 months.

• Regular Rate: Drops to around 0.30%.

• Highlights:

  • No fees, no minimum balance

  • Fully digital setup

  • Seamless link to Tangerine chequing

6. Simplii Financial High Interest Savings Account

• Interest Rate: Between 3.70%–4.25% for 4 to 7 months.

• Regular Rate: Typically 0.30%–1.50% depending on balance.

• Highlights:

  • No monthly fees

  • Strong CIBC ATM access

  • Great for digital-first savers

7. EQ Bank Personal Account

• Interest Rate: Steady 3.30% with no promotional period.

• Regular Rate: Same as above – consistent and non-promotional.

• Highlights:

  • No monthly fees or minimums

  • Free Interac e-Transfers

  • Great long-term account for parking savings

Why You Should Have a High‑Interest Savings Account in Your Portfolio

Including a HISA in your financial plan gives you multiple strategic benefits:

• Safe & Accessible
  Your money is available when you need it, with no market volatility.

• Earn While You Wait
  Perfect for emergency funds, upcoming big expenses, or short-term savings goals.

• Promotions = Quick Gains
  Use rotating promotions for high short-term returns while keeping your money risk-free.

• Pairs Well with Investing
  Keep your riskier investments separate and grow your liquid savings consistently.

Quick Summary Table

Quick Summary – Top 7 High‑Interest Savings Accounts (2025)

• Scotiabank MomentumPLUS

  • Promo Rate: 5.00%

  • Duration: 3 months

  • Regular Rate: ~0.55%

• CIBC eAdvantage

  • Promo Rate: 4.90%

  • Duration: A few months

  • Regular Rate: ~0.25%

• BMO Savings Amplifier

  • Promo Rate: 4.75%

  • Duration: 120 days

  • Regular Rate: Lower after promo

• RBC High Interest eSavings

  • Promo Rate: 4.70%

  • Duration: Around 3 months

  • Regular Rate: ~0.75%

• Tangerine Savings

  • Promo Rate: 4.50%

  • Duration: 5 months

  • Regular Rate: ~0.30%

• Simplii Financial

  • Promo Rate: 3.70%–4.25%

  • Duration: 4–7 months

  • Regular Rate: ~0.30%–1.50%

• EQ Bank Personal Account

  • Promo Rate: None

  • Duration: Not applicable

  • Regular Rate: 3.30%

Final Thoughts

Whether you’re building an emergency fund or saving for a short-term goal, a High‑Interest Savings Account is a must-have financial tool. Consider starting with one offering a promotional rate, and then transition to a long-term account like EQ Bank for ongoing returns.

Let your money work harder for you—safely and smartly.