💰 HISA Rankings · March 2026
Best High Interest Savings
Accounts in Canada 2026
Big bank savings accounts pay 0.01–0.5% interest. Digital banks pay 3–6%. Here's every high-interest savings account in Canada ranked by rate, safety, and features.
Top Picks at a Glance
1
KOHO Premium
5% on entire balance · $9/month fee · Breaks even at ~$2,160/yr balance · Best overall if you spend $450+/mo
5.00%
2
Neo Savings
4% everyday rate · No monthly fee · No minimum balance · Instant transfers · Best free HISA
4.00%
3
EQ Bank Personal Account
3.75% everyday · Zero fees · Free Interac e-Transfer · CDIC insured · Best no-catch option
3.75%
4
Tangerine Savings
6% promo for 5 months (new clients) · 1.5% ongoing · Best promo rate · Drops sharply after 5 months
6% promo
5
Simplii Financial HISA
3.5% everyday · CIBC subsidiary · Free · Best for those who want CIBC ATM access
3.50%
⚠️ Tangerine strategy: Open Tangerine savings to get 6% for 5 months, then switch your savings to EQ Bank or Neo for the everyday rate. Tangerine's ongoing rate of 1.5% is not competitive after the promo ends.
Calculate Your Annual Savings Interest
Full Comparison Table
| Account | Rate | Monthly Fee | CDIC Insured | Free Transfers |
|---|
| KOHO Premium | 5.00% | $9/mo | ✅ | ✅ |
| Neo Savings | 4.00% | Free | ✅ | ✅ |
| EQ Bank | 3.75% | Free | ✅ | ✅ |
| Simplii HISA | 3.50% | Free | ✅ | ✅ |
| Tangerine (promo) | 6.00% → 1.50% | Free | ✅ | ✅ |
| Scotiabank MomentumPLUS | 3.00% (bonus) | Free | ✅ | ✅ |
| TD ePremium Savings | 0.50% | Free | ✅ | Fees apply |
| RBC High Interest eSavings | 0.50% | Free | ✅ | $1–1.50/transfer |
| BMO Smart Savings | 0.10% | Free | ✅ | $5/mo for unlim |
Best Strategy: The HISA Stack
You don't have to pick just one. Here's the optimal setup for maximizing interest and convenience:
- Open Tangerine for the 6% promo rate. Park your savings there for 5 months.
- After 5 months, move savings to EQ Bank (3.75%, no fees, fully digital) or Neo (4%).
- Use KOHO Premium (5%) for your day-to-day balance if you spend $450+/month — the cashback + interest beats the $9 fee.
- Keep emergency fund at EQ Bank — CDIC insured, no fees, instant access, 3.75%.
Frequently Asked Questions
What is the highest savings rate in Canada right now?
As of March 2026: Tangerine offers 6% for new customers (promo for 5 months). KOHO Premium offers 5% ongoing (with $9/month fee). Neo offers 4% with no fee. EQ Bank offers 3.75% with no fees. These rates change — check each bank's website for current rates.
Is EQ Bank safe in Canada?
Yes. EQ Bank is a subsidiary of Equitable Bank, a federally regulated Schedule I bank and CDIC member. Your deposits are insured up to $100,000 per depositor per category. EQ Bank has been operating since 2016 and has over $10 billion in deposits.
What is a HISA?
A High Interest Savings Account (HISA) is a savings account that pays meaningfully more than standard savings accounts. In Canada, HISAs at digital banks like EQ Bank, Neo, and Tangerine typically offer 3–6% interest versus 0.01–0.5% at the Big Five banks.
Should I put my TFSA in a HISA?
For emergency funds or short-term savings (under 5 years), yes — a TFSA HISA at EQ Bank or Neo is excellent. For long-term investments (5+ years), a TFSA in low-cost ETFs at Wealthsimple or Questrade will likely outperform a HISA. Consider your time horizon.
Related guides
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Disclosure: Bremo earns referral commissions on KOHO signups. Interest rates subject to change — verify at each institution. Rates as of March 2026.