Best HISA Rates With No Minimum Deposit in Canada

Compare the best High Interest Savings Account rates and features from top Canadian banks. Find the best deal for your savings with CDIC-insured protection.

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Last updated: • Live daily updates

📊 Rates are scraped daily from official bank websites and verified by our team

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💰 Best HISA Rates in Canada

Product Rate Term Min Deposit Action
Scotiabank MomentumPLUS Savings Account
Promo Rate 		5.00% Ongoing $0 Apply Now
HISA Account
Promo Rate 		4.90% Ongoing $0 Apply Now
HISA Account
Promo Rate 		4.90% Ongoing $0 Apply Now
Bank of Nova Scotia Momentum Savings Account
Promo Rate 		4.90% Ongoing $0 Apply Now
HISA Account
Promo Rate 		4.70% Ongoing $0 Apply Now

🎯 Best Banking Strategy by Goal

🚨

Emergency Fund

3-6 months expenses, instant access

Best Products:
  • • High-Interest Savings (HISA)
  • • Cashable GICs
  • • TFSA (if room available)
Top Pick:
EQ Bank HISA (4.25%) or Tangerine HISA with promo
🏖️

Retirement Savings

Long-term growth, tax efficiency

Best Products:
  • • 5-year GICs in RRSP
  • • TFSA maxed out first
  • • GIC laddering strategy
Top Pick:
RBC 5-year GIC (4.10%) or TD 5-year (3.95%)
🏠

House Down Payment

2-5 year timeline, capital preservation

Best Products:
  • • GIC ladder (1-3 years)
  • • TFSA for tax-free growth
  • • High-yield savings for flexibility
Top Pick:
Mix: 50% TFSA GIC + 50% HISA for flexibility
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❓ Frequently Asked Questions

How accurate are these interest rates?

We update our rates regularly by scraping bank websites. However, rates can change frequently, so always verify with the bank before making decisions.

Are all these banks CDIC insured?

Most major Canadian banks are CDIC insured, providing up to $100,000 protection per depositor. Check individual bank details for CDIC membership status.

How often do interest rates change?

Interest rates can change at any time based on Bank of Canada policy rates and market conditions. Some banks change rates more frequently than others.

What should I consider when choosing a savings account?

Consider the interest rate, minimum deposit, fees, accessibility, and whether the institution is CDIC insured.