Canada’s Best Savings and GIC Rates This Week: November 2025 Snapshot

 

Savings Accounts

• Simplii Financial: Promotional 4.25% for the first 4 months
• Neo Financial: Tiered rates up to 2.90% if balance exceeds $20,000
• KOHO: Earn up to 3.50% plus cashback perks
• EQ Bank: Offers up to 2.75% with added cashback on purchases

Trend: Savings account rates have dipped compared to last year’s highs, but short-term promos still provide attractive yields.

Guaranteed Investment Certificates (GICs)

• Oaken Financial: 3.40% (1-year) and 3.80% (5-year)
• MCAN Wealth: 3.65% (1-year) and 3.95% (5-year)
• DUCA Credit Union: Short-term 4.15% (3-month non-redeemable)
• Achieva Financial: 3.40% (1-year) and 3.70% (5-year)

Trend: GIC rates have cooled from 2024 highs, with longer-term options now hovering around 3.70–3.95%.

Summary

For Canadians looking to maximize returns this week:

• Savings accounts with promotional offers (like Simplii’s 4.25%) are the most competitive short-term option.
• GICs remain a safe bet for those seeking guaranteed returns, with MCAN Wealth leading at 3.95% for 5 years.

Tip: If you want flexibility, chase short-term savings promos. If you prefer stability, lock into a multi-year GIC while rates are still relatively strong.