Compare the top savings account rates for Manitoba residents. Maximize your TFSA and RRSP with the best HISA options in MB.
Ranked by overall value — rates, fees, features, and Manitoba-specific benefits.
EQ Bank offers Canada's best everyday HISA rate at 3.00% — no fees, no minimums, no catch. CDIC insured up to $100,000. Manitoba residents can open a Personal Account, TFSA Savings Account, or RRSP Savings Account entirely online in minutes. Free Interac e-Transfers included.
KOHO is Canada's smartest everyday spending account — earn up to 5% cashback on purchases, earn interest on your balance, and get a $100 sign-up bonus with code 45ET55JSYA. Ideal for Manitoba residents who want their spending account to earn as much as their savings account.
Tangerine offers 5.00% for the first 6 months on new deposits — the highest short-term promo rate available to Manitoba residents. After 6 months it drops to 0.50%, so use it for lump sums you're parking before a major purchase. No monthly fees, CDIC insured.
Simplii Financial (CIBC's digital bank) offers 0.40% on savings with periodic promotional rates for new money deposits. Seamlessly connects to CIBC ATMs. No monthly fees and CDIC insured — a solid option for Manitoba residents already in the CIBC ecosystem.
Scotiabank's MomentumPLUS account adds bonus interest on balances held for 90+ days without withdrawal. Good for disciplined savers who want in-branch support in Manitoba.
RBC's eSavings account earns 0.01% with periodic promos for new deposits. Best for Manitoba residents who already bank with RBC and want seamless inter-account transfers. Watch for RBC's seasonal savings promotions.
Manitoba's provincial income tax rate means interest earned in regular savings accounts can be taxed significantly. Maximize your TFSA room ($95,000 cumulative in 2025) and hold your highest-rate savings there. EQ Bank's TFSA at 3.00% earns $2,850/year completely tax-free on $95,000.
Manitoba offers the Manitoba Home Buyers' Tax Credit and participates in the federal FHSA and RRSP HBP programs. Winnipeg homebuyers can use up to $75,000 in combined FHSA + RRSP HBP toward a down payment. Manitoba land transfer tax rebates are available for first-time buyers on homes up to $150,000.
Manitoba residents benefit from some of Canada's lowest electricity rates through Manitoba Hydro. Combined with relatively affordable housing outside Winnipeg, diverting extra savings into a high-yield account like EQ Bank at 3.00% can build wealth faster.
| 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 | — |
*KOHO deposits held at Peoples Bank of Canada, CDIC member. Rates subject to change.