Why We Did This Survey
Most "best rates" pages on the internet are either outdated, auto-generated, or quietly sponsored by the banks they rank first. We wanted something different — a transparent, manual survey where every rate is verified against the institution's own public website.
On May 31–June 1, 2026, we checked the posted rates of 17 HISAs and 20 GIC issuers available to Canadian savers. Here's what we found.
Part 1: High-Interest Savings Accounts
Rates current as of May 31, 2026. All accounts are CDIC-insured unless marked otherwise.
| Institution | Account | Regular Rate | TFSA Rate | CDIC |
| Saven Financial | High Interest Savings | 2.85% | 2.85% | ✅ Ontario only |
| Oaken Financial | Oaken Savings | 2.80% | 2.80% | ✅ |
| Bridgewater Bank | Smart eSavings | 2.70% | — | ✅ (excl. QC) |
| Wealth One Bank | High Interest Savings | 2.60% | 2.60% | ✅ |
| Canadian Tire Bank | High Interest Savings | 2.40% | 2.40% | ✅ (excl. QC) |
| Hubert Financial | Happy Savings | 2.30% | 2.30% | ✅ (MB, excl. QC) |
| Neo Financial | Neo Savings | 2.25% | — | ✅ |
| Laurentian Bank | High Interest Savings | 2.20% | 2.20% | ✅ |
| PC Financial | PC Money | 2.20% | — | ✅ |
| Achieva Financial | Achieva Savings | 1.80% | 1.95% | ✅ (MB) |
| MAXA Financial | MAXA Savings | 1.80% | 1.80% | ✅ (MB) |
| Outlook Financial | High Interest Savings | 1.80% | 1.80% | ✅ (MB) |
| Manulife Bank | Advantage Account | 1.50% | 1.05% | ✅ |
| Wealthsimple | Cash Chequing | 1.25% | 1.25% | ✅ (CDIC via partner banks) |
| Peoples Trust | e-Savings | 1.20% | 1.20% | ✅ |
| Alterna Bank | High Interest eSavings | 1.05% | 1.05% | ✅ |
| EQ Bank | Personal Account | 1.00% | 1.50% | ✅ |
Key Takeaways — HISA
- Saven Financial leads at 2.85%, followed closely by Oaken (2.80%) and Bridgewater (2.70%).
- The gap between #1 and #17 is 1.85 percentage points — on a $20,000 emergency fund, that's $370/year in missed interest.
- Several top-rate institutions are Manitoba-based credit unions (Achieva, MAXA, Outlook, Hubert) — fully CDIC-equivalent via provincial deposit guarantees.
- EQ Bank (1.00%) has dropped significantly from its 2023 highs, but its TFSA rate of 1.50% makes it the best fully-accessible TFSA HISA among digital banks.
- Promo-hopping note: Many big banks offer 4–5% promo rates for 3–5 months. These are not included because they're temporary. If you're willing to move money every few months, promos beat anything on this table.
→ Compare the best HISAs or try our 2-question account finder
Part 2: Guaranteed Investment Certificates (GICs)
Rates current as of May 31, 2026. Non-redeemable, non-registered, annually compounding. Broker-sold GICs (GIC Wealth Management, GIC Direct, Monarch) are included separately at the bottom.
| Institution | 1-Year | 2-Year | 3-Year | 4-Year | 5-Year |
| Saven Financial | 3.60% | 3.75% | 3.80% | 3.85% | 4.00% |
| Achieva Financial | 3.60% | 3.80% | 3.70% | 3.75% | 3.85% |
| Wealth One Bank | 3.55% | 3.90% | 3.90% | 3.95% | 4.10% |
| Oaken Financial | 3.50% | 3.85% | 3.85% | 3.90% | 4.05% |
| MAXA Financial | 3.50% | 3.70% | 3.60% | 3.65% | 3.85% |
| Outlook Financial | 3.50% | 3.70% | 3.60% | 3.65% | 3.85% |
| Hubert Financial | 3.45% | 3.55% | 3.65% | 3.70% | 3.80% |
| MCAN Financial | 3.40% | 3.70% | 3.75% | 3.85% | 4.00% |
| EQ Bank | 3.25% | 3.75% | 3.80% | 3.85% | 4.00% |
| Tangerine Bank | 3.20% | 3.40% | 3.50% | 3.60% | 3.70% |
| Meridian Credit Union | 3.10% | 3.55% | 3.70% | 3.75% | 3.90% |
| LBC Digital | 3.00% | 3.40% | 3.55% | 3.65% | 3.75% |
| Peoples Trust | 2.90% | 3.00% | 3.25% | 3.25% | 3.45% |
| Simplii Financial | 2.85% | 2.90% | 3.00% | 3.20% | 3.30% |
| ICICI Bank | 2.70% | 2.90% | 2.90% | 2.90% | 3.10% |
| Alterna Bank | 2.65% | 2.85% | 3.10% | 3.25% | 3.30% |
| Canadian Tire Bank | 2.35% | 2.40% | 2.45% | 2.50% | 4.05% |
Broker-Sold GICs
These rates are available through deposit brokers — you don't deal directly with the issuing institution.
| Broker | 1-Year | 2-Year | 3-Year | 4-Year | 5-Year |
| GIC Wealth Management | 3.69% | 3.83% | 4.03% | 4.03% | 4.09% |
| GIC Direct | 3.68% | 3.82% | 4.02% | 4.02% | 4.08% |
| Monarch Wealth Corp | 3.68% | 3.82% | 4.02% | 4.02% | 4.08% |
Key Takeaways — GICs
- 1-year GICs: Saven and Achieva tie at 3.60%. For longer terms, Wealth One Bank leads the 5-year at 4.10%.
- Broker-sold GICs offer marginally better rates (3.68–3.69% on 1-year vs. 3.60% direct) — the premium is 8–9 basis points.
- Laddering strategy: The 1-year vs 5-year spread is only ~40–50 bps. With rates potentially declining, locking in a 5-year at 4.00%+ is worth considering. But a 1-year ladder gives you flexibility to capture higher rates if the Bank of Canada stays put.
- Canadian Tire Bank is an anomaly — weak 1–4 year rates (2.35–2.50%) but a competitive 5-year (4.05%). Their pricing suggests they want long-term lock-in.
→ See our full GIC comparison for strategy guides and which GIC term is right for you.
Methodology
How we collected this data:
- Source: All rates were pulled from each institution's public website on May 31–June 1, 2026. Cross-referenced against the highinterestsavings.ca community-maintained charts.
- What's included: Only publicly posted, non-promotional rates available to Ontario residents. No phone-in rates, no relationship-bonus rates, no advisor-only products.
- What's excluded: Temporary promotional rates (e.g., "5.00% for 4 months"), teaser bonus rates that require direct deposit or minimum balances, and rates only available through financial advisors.
- CDIC coverage: We verified each institution's deposit insurance status. Manitoba credit unions are covered by the Deposit Guarantee Corporation of Manitoba (DGCM), which provides unlimited deposit protection — in some ways stronger than CDIC's $100,000 cap.
- Updates: We'll re-survey quarterly. Next update: September 2026.
Limitations: Rates change — sometimes without notice. Always verify on the institution's website before opening an account. This is not financial advice; it's data collection.
What This Means for Your Savings
If you're earning less than 2.00% on your savings right now, you're leaving money on the table. Moving a $10,000 emergency fund from a big-bank "high interest" account (typically 0.01–0.05%) to Saven Financial at 2.85% earns you roughly $285/year vs. $1–$5/year.
For GICs, the spread is even wider. A $10,000 GIC at a Big 5 bank might pay 2.00% for 1 year. Saven pays 3.60% — that's an extra $160/year, guaranteed.
Next Steps
- New to high-interest savings? Start with our beginner's guide to HISAs.
- Building an emergency fund? Use our emergency fund calculator to figure out your target.
- Considering a GIC ladder? Read our GIC rates guide for strategy.
Last updated: June 1, 2026. Next survey: September 2026.
Disclaimer: Rates are for informational purposes only and may have changed since publication. Always verify with the financial institution. We may earn a referral fee if you open an account through our links — see our affiliate disclosure.