These guides cover where Canadians keep cash they want to stay safe and available: what high-interest savings accounts (HISAs) pay, how they work, how to open one, what a balance earns, and the accounts built for businesses and for US dollars. Each topic has one guide, and the guides link to each other where they meet.
Rates
- Best high-interest savings accounts in Canada: the site’s one table of posted savings account and HISA rates by institution, with each tier, condition and posting date, plus how promotional rates work.
How HISAs work
- HISA guide: what a high-interest savings account is, how its interest and access work, registered and non-registered versions, and what it suits.
- How to open a high-interest savings account: the steps, the ID you need and how to move money in.
What savings earn, and calculators
- How much $10,000 can earn in savings: worked examples by account type, monthly and over time.
- Savings interest calculator: deposits, compounding frequency and years.
- HISA calculator: TFSA and non-registered growth compared after tax.
Business and US-dollar savings
- Best business savings accounts in Canada: savings accounts for sole proprietors and corporations.
- US-dollar accounts in Canada: personal and business USD accounts, fees and conversion costs.
Which account for which goal
| Goal | Account type that fits | Guide |
|---|---|---|
| Money you may need on any day | HISA, or a TFSA savings account | HISA guide, best TFSA accounts |
| A cash reserve for job loss or repairs | HISA kept apart from spending money | How big an emergency fund to keep |
| Spending money that also earns interest | Chequing, or a hybrid account | Chequing vs savings account |
| A goal with a fixed date, one to five years out | GIC, or HISA if the date might move | GIC vs HISA |
| A business’s cash reserves | Business savings account | Business savings accounts |
| Money held in US dollars | USD savings or chequing account | US-dollar accounts |
| Money for five years or more | Registered investing account | TFSA guides |
GICs, from how they work to current rates, have their own section: GIC guides and rates.
Related guides elsewhere on the site
- CDIC deposit insurance: what is covered and up to how much, by deposit category.
- Wealthsimple vs EQ Bank and Simplii vs Tangerine vs EQ Bank: head-to-head bank comparisons.
- How Bank of Canada decisions affect savings.
- Bank and brand directory: each bank’s own rates and fees.
Browse All Savings Account Guides for Canadians: HISA Rates, How HISAs Work and Calculators Articles
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