Canada's top HISA rates compared. EQ Bank leads at 3.75% — 75× more than the Big 5 banks. Updated March 2026.
Rates current as of March 2026 · Sorted by standard ongoing rate (not promo) · All accounts CDIC or provincial CU insured
EQ Bank's standard rate of 3.75% is the highest of any major Canadian savings account with no minimum balance and no fees. The account also functions as a hybrid chequing/savings — you can pay bills, send e-transfers, and get a physical card.
$0
$0
CDIC ($100K/cat)
Oaken Financial is the online arm of Home Bank and Home Trust. Consistently offers one of the highest standard savings rates in Canada. No promotional trickery — the 3.40% is the ongoing standard rate.
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$0
CDIC ($100K/cat)
Achieva Financial is the online banking division of Cambrian Credit Union (Manitoba). Offers competitive HISA rates and GICs to Manitoba credit union deposit members with unlimited provincial insurance.
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$0
CUDIC MB (unlimited)
KOHO is unique: it pays 3.0% interest on your spending account balance — not a separate savings bucket. You earn interest on every dollar the moment it hits your account, while also getting cashback on purchases and $0 fees. No other account combines daily banking + 3% interest + cashback.
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$0
CDIC ($100K/cat)
Simplii's HISA offers 0.40% standard (with frequent promo rates of 4–5% for 5 months for new deposits). If you can time the promotions, it's competitive. Otherwise, EQ Bank or Oaken are better for ongoing rate.
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$0
CDIC ($100K/cat)
Tangerine's standard HISA rate is 0.10% — low compared to EQ Bank or KOHO. However, Tangerine regularly offers 3–5% promotional rates for 5 months on new deposits. If you plan to move money often, the promotions can add up.
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$0
CDIC ($100K/cat)
0.01–0.05% — effectively $0 interest on everyday savings balances. On a $100 balance, you earn $1–$5/year. KOHO at 3.0% earns $300/year on the same balance.
$0–$5
Yes
Branch access, mortgage bundling, GIC offers
| Account | Annual Rate | Year 1 Interest | 3-Year Total |
|---|
Many banks advertise eye-catching 4–5% rates that only last 3–5 months for new deposits. After the promo ends, the rate reverts to 0.10% or lower. EQ Bank and Oaken Financial offer competitive standard ongoing rates — no promotional gimmicks. Always check the post-promo rate before opening an account.
| Account | Standard Rate | Promo Rate | Monthly Fee | Min Balance | Insurance |
|---|---|---|---|---|---|
| EQ Bank | 3.75% | N/A | $0 | None | CDIC |
| Oaken Financial | 3.40% | N/A | $0 | None | CDIC |
| Achieva Financial | 3.20% | N/A | $0 | None | CUDIC MB (unlimited) |
| KOHO | 3.0% | N/A | $0 | None | CDIC |
| Simplii HISA | 0.40% | 4–5% (5 mo) | $0 | None | CDIC |
| Tangerine Savings | 0.10% | 3–5% (5 mo) | $0 | None | CDIC |
| RBC HISA | 0.10% | Varies | $0–$5 | Varies | CDIC |
| TD HISA | 0.05% | Varies | $0 | None | CDIC |
| BMO Savings Builder | 0.05% | Varies | $0 | None | CDIC |
| Scotiabank | 0.01% | Varies | $0 | None | CDIC |
Use EQ Bank for pure savings (3.75%) and KOHO for daily spending (3.0% + cashback). Together, they beat any single account. Get KOHO's $100 signup bonus with code 45ET55JSYA.
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