With inflation and rising costs in 2025, Canadians are more focused than ever on growing their savings efficiently.
A high-interest savings account (HISA) is one of the safest and smartest ways to earn passive income on your money — without taking investment risks.
We’ve reviewed the top 7 high-interest savings accounts in Canada (2025) that offer the best rates, lowest fees, and flexible access to your funds.
Let’s help you choose the best one for your financial goals. 💰
Interest Rate (2025): 4.00%
Fees: No monthly fees
Minimum Balance: None
EQ Bank remains one of Canada’s top choices for savers. With no hidden fees, unlimited transfers, and an impressive 4% rate, it’s perfect for both beginners and experienced savers.
✅ Highlights:
Unlimited e-Transfers
Free internal transfers to EQ Savings or TFSA
FDIC insured equivalent through CDIC
🏛️ 2. Tangerine High-Interest Savings Account
Interest Rate (2025): 3.75% (Promotional offers up to 5%)
Fees: No monthly fees
Minimum Balance: None
Tangerine is Scotiabank’s digital arm and continues to offer competitive rates. You can also link it to a chequing account for easy money transfers.
✅ Highlights:
User-friendly app
Great for new customers (bonus interest for 6 months)
24/7 customer service
💼 3. Simplii Financial High-Interest Savings Account
Interest Rate (2025): 3.85%
Fees: None
Minimum Balance: None
Simplii Financial, powered by CIBC, combines strong rates with accessibility. It’s great for Canadians who prefer a big-bank-backed online account.
✅ Highlights:
Backed by CIBC
Unlimited transactions
Mobile-friendly banking experience
🪙 4. Neo Money Account
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Interest Rate (2025): 4.25%
Fees: No monthly fees
Minimum Balance: None
Neo Financial, one of the newest Canadian fintech startups, offers one of the highest interest rates on the market. It’s 100% digital and designed for people who love innovation.
✅ Highlights:
Top-tier 4.25% interest
Works with Neo Credit Card
CDIC protection
🔗 https://www.neofinancial.com
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🏢 5. Scotiabank MomentumPLUS Savings Account
Interest Rate (2025): Up to 3.50% (based on term)
Fees: No monthly fees
Minimum Balance: $5,000 for bonuses
Scotiabank’s MomentumPLUS is ideal for long-term savers. The longer you keep your money, the more you earn.
✅ Highlights:
Earn bonus interest for saving longer
Access through Scotiabank branches
Linked to premium banking options
💳 6. RBC High Interest eSavings
Interest Rate (2025): 2.90%
Fees: No monthly fees
Minimum Balance: None
RBC offers a trusted digital savings account with reliable service and integration across its ecosystem. Ideal for clients who already bank with RBC.
✅ Highlights:
Easy online transfers to RBC accounts
Canada’s largest bank
24/7 security and monitoring
💰 7. Oaken Financial Savings Account
Interest Rate (2025): 4.10%
Fees: None
Minimum Balance: None
Oaken Financial specializes in simple, high-yield savings. With one of the best non-promotional rates in Canada, it’s a solid option for people focused purely on earning interest.
✅ Highlights:
4.10% everyday rate
Backed by Home Bank (CDIC insured)
Straightforward and secure
📊 Quick Comparison Table (2025)
| Bank / Platform | Interest Rate | Fees | CDIC Insured | Best For |
|---|---|---|---|---|
| EQ Bank | 4.00% | No | ✅ | Everyday savings |
| Neo Financial | 4.25% | No | ✅ | High return |
| Tangerine | 3.75% | No | ✅ | All-round option |
| Simplii | 3.85% | No | ✅ | Big-bank reliability |
| Oaken Financial | 4.10% | No | ✅ | Long-term savers |
| Scotiabank | Up to 3.50% | No | ✅ | Traditional banking |
| RBC eSavings | 2.90% | No | ✅ | Existing RBC clients |
💡 Tips to Maximize Your Savings in 2025
✅ Choose no-fee accounts
✅ Prefer online banks for higher interest
✅ Always check CDIC protection (up to $100,000)
✅ Use automated transfers to stay consistent
✅ Review your rate every 6 months
If you’re looking to make your money work harder in 2025, these high-interest savings accounts in Canada are your safest and smartest bet.
💬 Whether you choose Neo Financial for high returns or EQ Bank for reliability, your savings will grow faster without unnecessary fees.
👉 Start saving smarter today!
Read more financial guides at Nexuora.com
