EQ Bank vs Simplii Financial HISA Rates Comparison

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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About High Interest Savings Account

A savings account offering higher interest rates than traditional savings accounts.

Tax Treatment: Interest income is taxable
Liquidity: Very high - instant access
Risk Level: No risk (CDIC insured)

Best For:

  • Emergency funds
  • Short-term savings
  • Risk-free returns
  • Liquidity needs

📊 Side-by-Side Comparison

EQ Bank

Product Rate Term
EQ Bank ’s Personal Account** 3.50% Ongoing

Simplii Financial

Product Rate Term
CIBC eAdvantage® Savings Account 4.90% Ongoing
Simplii Financial High Interest Savings Account 4.25% Ongoing
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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.