No land transfer tax and solid TFSA room make Saskatchewan great for savers. Find the best HISA rates for SK residents in 2025.
Ranked by overall value — rates, fees, features, and Saskatchewan-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. Saskatchewan 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 Saskatchewan 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 Saskatchewan 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 Saskatchewan 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 Saskatchewan.
RBC's eSavings account earns 0.01% with periodic promos for new deposits. Best for Saskatchewan residents who already bank with RBC and want seamless inter-account transfers. Watch for RBC's seasonal savings promotions.
Saskatchewan residents benefit from relatively low provincial tax rates. Still, holding savings in a TFSA shields all interest from provincial tax. The 2025 TFSA limit is $7,000 with $95,000 cumulative room. EQ Bank's TFSA at 3.00% is the most efficient vehicle for Saskatchewan savers.
Saskatchewan first-time buyers qualify for the First Home Buyers Tax Credit — up to $1,050 in provincial tax savings. Combine this with the federal FHSA ($40K) and RRSP HBP ($35K) to dramatically reduce first home purchase costs. Use EQ Bank to grow your down payment at 3.00%.
Saskatchewan is one of the few provinces with no land transfer tax (it charges only a small title registry fee). This saves SK buyers thousands compared to Ontario or BC buyers. The money saved can be put directly into a high-yield savings account for future investments.
| 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.