Transparency: some institutions pay us when you open an account through our links. This never changes the order of the table or the rates shown. How we are paid
Today’s best rates
Rates change often: always confirm on the institution’s website before opening an account.
Rates checked on October 19, 2026.
| Institution | Regular rate | Promotional rate | Length | Insurance | Source |
|---|---|---|---|---|---|
| Saven Financial High Interest Savings Account | 2.85 % | — | — | Provincial | Official site |
| Oaken Financial Savings Account | 2.80 % | — | — | CDIC | Official site |
| KOHO Earn Interest (free plan) | 2.00 % | — | — | CDIC | Official site |
| Manulife Bank Advantage Account | 1.50 % | 3.00 % | 2 years on new deposits, open by Oct 30, 2026 | CDIC | Official site |
| Alterna Bank High Interest eSavings | 1.05 % | — | — | CDIC | Official site |
Regular rate or promotional rate?
A promotional rate is higher, but only for a few months. After that, the account goes back to its regular rate, often much lower. Our table always shows both, with the length of the promotion, so you know what you will really earn over a year.
Is your money protected?
Most accounts in our table are covered by the Canada Deposit Insurance Corporation (CDIC), up to $100,000 per deposit category per institution. In Quebec, Desjardins and the caisses are covered by the Autorité des marchés financiers (AMF). Understand deposit insurance
How we choose the rates
A comparison site is only useful if you can trust it. Here are our four rules:
- One source: the institution itself. Every rate comes from the bank’s official page, and the link is shown next to the rate.
- Every rate is dated. We check all rates every week. A rate we have not been able to re-check for more than 14 days is flagged.
- Rankings follow the rate, not the commission. Tables are sorted by regular rate. Whether an institution pays us or not never changes its position.
- Everyone is in the table. We include institutions that pay us nothing, sometimes even at the top of the ranking.
Guides
- Saving in Canada on a work permit: bank account, TFSA, RRSP, and what happens if you leave.
- Is your money protected?: CDIC, the AMF and credit unions.
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Lai See Wise provides general information and comparisons. This is not personalized financial advice. Lai See Wise is not a bank and does not accept deposits.