Table of Contents
Saving for a down payment—or any financial goal—remains one of the biggest challenges Canadians face. Fortunately, digital banking growth and rising interest rates have made high-interest savings accounts (HISAs) far more rewarding than in 2020. Here are some of the best accounts in Canada today, with a look at the top performers from EQ Bank, Laurentian’s B2B Bank, and Motusbank.
Top High Interest Saving Rate Accoutns in Canada (as of October 2025)
- EQ Bank Personal Account: 3.00%
- Laurentian (B2B) Bank HISA: 2.20%
- Motusbank: 1.65%–1.85%
- Neo Savings Account (bonus alternative): 2.25%
- Manulife Bank Advantage Account (promotional): up to 4.75%
1. EQ Bank
Rate: 3.00%
Account type: Personal Account (CDIC insured, no fees)
EQ Bank continues to lead Canada’s HISA market, offering a 3.00% everyday rate with no monthly fees or minimum balance requirements. As part of Equitable Bank, EQ focuses heavily on digital convenience. Customers enjoy free eTransfers, bill payments, and ATM fee reimbursements across Canada, plus the option to open joint accounts.
EQ also introduced specialized Notice Savings products, offering up to 2.75% with 30 days' notice or 2.60% with 10 days' notice for savers comfortable committing funds for short periods.
2. B2B Bank (Laurentian Bank)
Rate: 2.20%
Account type: High Interest Savings Account (CDIC insured)
B2B Bank, a subsidiary of Laurentian Bank, offers competitive stability for those seeking a straightforward investment-style savings option. The rate sits at 2.20% for all balances, with deposits protected by CDIC up to $100,000. While not the most user-friendly digital experience, this account works well for steady savers who don’t move money often.
3. Motusbank
Rate: 1.65%–1.85%
Account type: High-Interest Savings and TFSA options (FSRA insured under Meridian Credit Union)
Motusbank, launched by Meridian Credit Union, remains a solid pick for those wanting trusted credit-union backing and TFSA eligibility. Although its rates have declined since the 2020 peak, they remain competitive for a full-service digital bank with no monthly fees. Motusbank continues to stand out for offering high rates on TFSA savings, a feature EQ still lacks.
Other Strong High Interest Saving Rate Accounts in 2025
For Canadians open to exploring beyond the original three:
- PC Money Account: 2.70%
- KOHO High Interest Savings: up to 3.50% (includes cash-back perks)
- Tangerine Savings Account: up to 4.50% (promotional rate)
- Scotiabank MomentumPLUS Account: up to 4.85% (with bonus periods)
Summary
While none of these HISAs will replace a long-term investment portfolio, they do provide a secure and liquid way to protect your savings from inflation while earning meaningful returns. Among digital players, EQ Bank remains the best all-round option, while Motusbank and B2B Bank cater best to savers prioritizing stability and simplicity.
Frequently Asked Questions (FAQs) about High Interest Saving Accounts
Which Canadian bank has the best high interest savings account?
The Canadian banks with the best high interest savings accounts in 2025 are EQ Bank, Tangerine, and Simplii Financial, offering rates between 3.5% and 4.5% with no monthly fees and easy online transfers.
Where should I keep my money while saving for a house Canada?
You should keep your money in a high interest savings account or a tax-free savings account (TFSA) while saving for a house in Canada, as both options are low-risk, accessible, and can earn tax-free interest.
