4 High-Interest Savings Accounts in Canada (March 2026)
If you’re trying to grow your savings without overcomplicating things, a high-interest savings account is one of the easiest places to start.
Unfortunately, not all accounts are created equal. Some require direct deposits, some have fees, and others just don’t offer competitive rates.
I personally prefer no-fee accounts with minimal conditions—because your money should grow without you having to jump through hoops.
All of the accounts below have no monthly fees.
Here are 4 high-interest savings accounts in Canada worth considering right now:
1. Neo Financial (My Current Pick)
The Neo Savings account is the account I’m currently using and my personal favourite.
What I like most is that your interest rate is based on your balance, not on whether you’ve set up things such as direct deposit. That makes it a lot more straightforward and flexible.
Current rates:
2.25% on balances under $4,999
2.50% on $5,000–$19,999
3.00% on $20,000+
For me, this is the perfect place to park an emergency fund or savings I don’t want to touch often.
Bonus: Right now, they’re offering up to $650 in cash depending on how much you deposit—but this offer ends March 22, so timing matters if you’re considering it.
2. PC Money Account
I’ve used the PC Money Account in the past, and like the others on this list, it has no monthly fees.
Current rates:
2.2% base rate
2.9% with direct deposit
They also offer perks like earning PC Optimum points, which can be a nice bonus if you already shop within that ecosystem.
That said, the higher rate does require direct deposit, which may not work for everyone.
3. Wealthsimple
Wealthsimple also offers a no-fee account, with rates that depend on both direct deposit and how much you hold on the platform.
For balances under $100,000:
1.25% base rate
1.75% with direct deposit
For $100,000+:
1.75% base rate
2.25% with direct deposit
For $500,000+:
2.25% base rate
It’s a clean, easy-to-use platform, especially if you’re already investing with them—but again, the better rates come with conditions.
4. EQ Bank
EQ Bank is another popular no-fee option, but like others on this list, the higher rates come with specific requirements.
For their personal account:
1.00% base rate
2.75% with direct deposit
Alternatively, if you don’t mind giving notice and waiting to access your money when needed:
2.75% with 30-day notice
2.35% with 10-day notice
This is another popular option, but like others on this list, the better rate comes with conditions attached.
Final Thoughts
If you’re choosing a savings account, here’s what I’d focus on:
No monthly fees
Minimal conditions to earn interest
A competitive rate that actually helps your money grow
That’s ultimately why I went with Neo Financial—it’s simple, flexible, and rewards you based on what you already have saved, without requiring extra setup.
Quick Note
All rates are as of March 17, 2026.
Some of the links I share may be referral links, which means I may earn a small commission if you sign up. It doesn’t cost you anything, and it helps me continue creating free content like this.
If you want help choosing the right account for your situation, don’t overthink it—just start with one and build from there.