Compare the top HISA rates for BC residents. With Vancouver's high cost of living, every extra basis point counts — find the best savings account in BC.
Ranked by overall value — rates, fees, features, and BC-specific benefits.
EQ Bank offers 3.00% with no fees and no minimums — particularly valuable in BC where housing costs pressure savings rates. BC residents appreciate the TFSA option at 3.00% for fully tax-sheltered growth. CDIC insured, free Interac e-Transfers, and a seamless mobile app make EQ Bank BC's top savings pick.
KOHO combines a spending account with interest and up to 5% cashback on everyday purchases. For BC residents dealing with high grocery and gas prices, KOHO's cashback program effectively beats traditional savings rates. Sign up with code 45ET55JSYA for a $100 bonus.
Tangerine's 5.00% 6-month promotional rate is ideal for BC residents parking a lump sum — perhaps proceeds from a rental deposit or annual bonus. The regular 0.50% rate remains above most big banks after the promo period. CDIC insured, no monthly fees, and easy to pair with a Tangerine chequing account.
Simplii Financial's online savings account earns 0.40% regularly with periodic promos. BC residents who bank with CIBC can link accounts easily. Limited branch access but seamless digital banking. Promotional rates can reach 4-5% on new deposits.
Scotiabank's MomentumPLUS account rewards disciplined BC savers with bonus interest if no withdrawals are made for 90 days. Hundreds of BC branches for those who prefer in-person banking.
RBC's eSavings works well for BC residents already using RBC for their primary banking. Easy transfers and 500+ BC branches, though the base rate doesn't compete with online banks. Watch for seasonal promos.
TFSA limit is $7,000 in 2025 with $95,000 cumulative room since 2009. BC residents pay no tax on TFSA interest earnings — at 3.00% with EQ Bank, $95,000 in a TFSA generates $2,850/year completely tax-free. Maximize your TFSA before contributing to unregistered savings.
BC offers the First Home Buyers' Program, which exempts qualifying buyers from the Property Transfer Tax on homes up to $500,000 (partial exemption up to $525,000). Combine this with a FHSA ($40K) and RRSP HBP ($35K) for up to $75,000 in tax-free savings toward your first BC home.
BC residents with high savings often invest in real estate, but BC's Speculation and Vacancy Tax applies in designated areas. High-yield savings accounts like EQ Bank at 3.00% offer a tax-efficient alternative to property speculation for growing wealth.
| Bank | Rate | Monthly Fee | CDIC | TFSA | Bonus |
|---|---|---|---|---|---|
| EQ Bank | 3.00% | $0 | Yes | Yes | — |
| KOHO | Up to 5% cashback | $0–$19 | Yes* | No | $100 |
| Tangerine | 5.00% promo / 0.50% | $0 | Yes | Yes | Varies |
| Simplii Financial | 0.40% / promos | $0 | Yes | No | Varies |
| Scotiabank MomentumPLUS | 0.01% + bonus | $0 | Yes | Yes | — |
| RBC eSavings | 0.01% + promos | $0 | Yes | Yes | — |