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Updated March 2025

Best RRSP Savings Accounts Canada 2025

The Registered Retirement Savings Plan (RRSP) remains Canada's most powerful tax-deferral vehicle. Contributions reduce your taxable income now, and all growth is tax-deferred until retirement. Here are the best RRSP options for 2025.

Top Picks for 2025

Independently ranked for Canadian residents — rates, fees, features.

1
EQ Bank RRSP Savings Account
3.00% tax-deferred, no fees
3.00% tax-deferred

EQ Bank's RRSP Savings Account earns 3.00% with no monthly fees, no minimum balance, and CDIC insurance. All interest grows tax-deferred until retirement withdrawal. Perfect for parking RRSP contributions before deciding on long-term investments.

2
EQ Bank RRSP GICs
Guaranteed rates above 4% inside RRSP
Up to 4.50%+

EQ Bank's RRSP GICs lock in competitive rates for 3 months to 5 years — all inside your RRSP. Tax-deferred growth at guaranteed rates. CDIC insured. Great for the fixed-income portion of an RRSP portfolio.

3
Oaken Financial RRSP GICs
Often Canada's highest RRSP GIC rates
4.75%+

Oaken Financial consistently offers some of Canada's best GIC rates inside an RRSP. Home Bank CDIC member. For those wanting to maximize guaranteed RRSP returns, Oaken is a top choice.

4
Tangerine RRSP Savings
5.00% promo + integrated banking
5.00% promo/0.50%

Tangerine RRSP offers 5.00% for 6 months on new RRSP deposits, then 0.50%. Good for new contributions — earn 5% on this year's $31,560 RRSP limit for 6 months before transferring to EQ Bank.

5
Wealthsimple RRSP (Invest)
Low-cost ETF investing inside RRSP
Market returns

Wealthsimple Invest allows you to build a diversified ETF portfolio inside your RRSP with 0% management fees on automated portfolios. Best for long-term RRSP growth beyond guaranteed rates.

6
TD RRSP (Full Service)
In-branch support, full product range
Below online average

TD offers RRSP savings, GICs, mutual funds, and self-directed investing through TD Direct Investing — all inside an RRSP. Rates are below EQ Bank for savings but TD provides full-service in-branch advice.

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Frequently Asked Questions

What is the best RRSP account in Canada in 2025?
EQ Bank's RRSP Savings Account at 3.00% is the best liquid RRSP savings option. For guaranteed higher returns, EQ Bank or Oaken Financial RRSP GICs at 4.5%+ are excellent. For long-term retirement investing, Wealthsimple RRSP offers low-cost index fund investing.
What is the 2025 RRSP contribution limit?
The 2025 RRSP contribution limit is 18% of your 2024 earned income, up to a maximum of $32,490. Check your Notice of Assessment (NOA) from CRA for your personal available RRSP room, which includes unused room carried forward from previous years.
When is the RRSP deadline in 2025?
The RRSP contribution deadline for the 2024 tax year is March 3, 2025 (60 days after December 31, 2024). Contributions made by this deadline can be deducted from 2024 taxable income. Contribute as early as possible for maximum tax-deferred growth time.
Should I contribute to RRSP or TFSA first in 2025?
For most Canadians earning under $100,000: maximize TFSA first (all growth is tax-free — not just deferred). For those in high income brackets (40%+ marginal rate): RRSP may be better since the tax deduction is more valuable. Use both if possible. Rule of thumb: if you'll have similar income in retirement, TFSA wins; if income will be lower in retirement, RRSP wins.