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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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End of an Era: Hudson's Bay Announces Immediate Liquidation


Hudson's Bay, Canada's oldest company, has announced plans for an immediate liquidation of its entire business. The decision comes after exhaustive efforts to secure financing and avoid a full shutdown proved unsuccessful. The liquidation process is set to begin next week and is expected to conclude by June.

The iconic department store chain, which dates back to 1670, has faced mounting financial challenges, including nearly $1 billion in debt. The closure will impact over 9,000 employees across Hudson's Bay stores, as well as its Saks Fifth Avenue and Saks Off 5th locations.

Despite the bleak outlook, Hudson's Bay remains hopeful that a last-minute solution with key stakeholders, particularly landlords, could prevent the complete shutdown. CEO Liz Rodbell expressed gratitude for the support from customers and associates, emphasizing the company's determination to explore every possible opportunity to save the brand.

This marks a significant moment in Canadian retail history, as the loss of Hudson's Bay would leave a notable gap in the market and in the hearts of many Canadians.


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