HISA Rankings · March 2026

Best High Interest Savings
Accounts in Canada 2026

Big bank savings accounts pay 0.01–0.5% interest. Digital banks pay 3–6%. Here's every high-interest savings account in Canada ranked by rate, safety, and features.

No-Fee Banking

Open a no-fee KOHO account. Use code BREMO2026 for a welcome bonus.

Open KOHO Free →

Top Picks at a Glance

1
KOHO Premium
5% on entire balance · $9/month fee · Breaks even at ~$2,160/yr balance · Best overall if you spend $450+/mo
5.00%
2
Neo Savings
4% everyday rate · No monthly fee · No minimum balance · Instant transfers · Best free HISA
4.00%
3
EQ Bank Personal Account
3.75% everyday · Zero fees · Free Interac e-Transfer · CDIC insured · Best no-catch option
3.75%
4
Tangerine Savings
6% promo for 5 months (new clients) · 1.5% ongoing · Best promo rate · Drops sharply after 5 months
6% promo
5
Simplii Financial HISA
3.5% everyday · CIBC subsidiary · Free · Best for those who want CIBC ATM access
3.50%
⚠️ Tangerine strategy: Open Tangerine savings to get 6% for 5 months, then switch your savings to EQ Bank or Neo for the everyday rate. Tangerine's ongoing rate of 1.5% is not competitive after the promo ends.

Calculate Your Annual Savings Interest

Full Comparison Table

AccountRateMonthly FeeCDIC InsuredFree Transfers
KOHO Premium5.00%$9/mo✅✅
Neo Savings4.00%Free✅✅
EQ Bank3.75%Free✅✅
Simplii HISA3.50%Free✅✅
Tangerine (promo)6.00% → 1.50%Free✅✅
Scotiabank MomentumPLUS3.00% (bonus)Free✅✅
TD ePremium Savings0.50%Free✅Fees apply
RBC High Interest eSavings0.50%Free✅$1–1.50/transfer
BMO Smart Savings0.10%Free✅$5/mo for unlim

Best Strategy: The HISA Stack

You don't have to pick just one. Here's the optimal setup for maximizing interest and convenience:

  1. Open Tangerine for the 6% promo rate. Park your savings there for 5 months.
  2. After 5 months, move savings to EQ Bank (3.75%, no fees, fully digital) or Neo (4%).
  3. Use KOHO Premium (5%) for your day-to-day balance if you spend $450+/month — the cashback + interest beats the $9 fee.
  4. Keep emergency fund at EQ Bank — CDIC insured, no fees, instant access, 3.75%.

Frequently Asked Questions

What is the highest savings rate in Canada right now?
As of March 2026: Tangerine offers 6% for new customers (promo for 5 months). KOHO Premium offers 5% ongoing (with $9/month fee). Neo offers 4% with no fee. EQ Bank offers 3.75% with no fees. These rates change — check each bank's website for current rates.
Is EQ Bank safe in Canada?
Yes. EQ Bank is a subsidiary of Equitable Bank, a federally regulated Schedule I bank and CDIC member. Your deposits are insured up to $100,000 per depositor per category. EQ Bank has been operating since 2016 and has over $10 billion in deposits.
What is a HISA?
A High Interest Savings Account (HISA) is a savings account that pays meaningfully more than standard savings accounts. In Canada, HISAs at digital banks like EQ Bank, Neo, and Tangerine typically offer 3–6% interest versus 0.01–0.5% at the Big Five banks.
Should I put my TFSA in a HISA?
For emergency funds or short-term savings (under 5 years), yes — a TFSA HISA at EQ Bank or Neo is excellent. For long-term investments (5+ years), a TFSA in low-cost ETFs at Wealthsimple or Questrade will likely outperform a HISA. Consider your time horizon.

Related guides

🏦 Best savings accounts Canada 2026 — full ranked list → ⭐ EQ Bank review 2026 — is 3.75% real? → 📊 TFSA contribution room 2026 calculator → 💳 KOHO Premium review — is $9/month worth it? →

Get $100 free while your savings earn interest

KOHO code BREMO2026 · $100 signup bonus · 1% cashback · Up to 5% interest on balance

Get KOHO — code BREMO2026 →
Disclosure: Bremo earns referral commissions on KOHO signups. Interest rates subject to change — verify at each institution. Rates as of March 2026.

Related Reading

Related banking guides

No-fee banking in Canada E-transfer limits How to close a bank account Bank drafts explained Canadian banking fees All Canadian bank bonuses

Tired of bank fees? Open a no-fee KOHO account, get $20 with code BREMO2026 →