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Where to Find the Best Savings and GIC Rates in Canada This Week

Canadians looking to stretch their savings a little further still have access to competitive high‑interest savings accounts (HISAs) and guaranteed investment certificates (GICs). Digital banks continue to lead the way, offering strong returns without sacrificing security. Here’s a quick snapshot of the top rates available this week. Highest High‑Interest Savings Account Rates Several online‑only institutions are offering some of the most attractive HISA rates right now: Saven Financial – 2.85% Oaken Financial – 2.80% EQ Bank – 2.75% Bridgewater Bank – 2.70% WealthONE Bank – 2.60% These accounts are typically insured either federally or provincially, giving savers both flexibility and peace of mind. Best GIC Rates This Week For those comfortable locking in their money for a set period, GICs continue to provide reliable, guaranteed returns. 1‑Year GIC Leaders Oaken Financial – 3.40% 5‑Year GIC Leaders EQ Bank – 3.85% Longer‑term GICs remain especially appealing for ...
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Ontario Caps Daycare Fees at $22 for Children Under 6

 


In a significant move to make child care more affordable, the Ontario government has announced that starting in January 2025, parent fees for children under the age of six in Canada-wide Early Learning and Child Care (CWELCC) programs will be capped at $22 per day. This fee reduction is expected to result in additional savings of nearly $300 million in 2025 for families.

The new funding model also introduces a cost-based approach for operators in the CWELCC program, prioritizing stability and predictability. Families facing the highest fees, particularly those with young children in less affordable communities, will see the largest fee reductions.

This initiative aims to provide more stability and predictability to child-care centers, ultimately helping reduce lengthy wait-lists and supporting parents as they enter the workforce with peace of mind.

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