Top Savings and GIC Rates in Canada This Week

                                                             

Canadians looking to maximize their returns on safe investments have strong options this week, with both high-interest savings accounts (HISAs) and guaranteed investment certificates (GICs) offering competitive rates.

High-Interest Savings Accounts

• KOHO Earn Interest Account continues to lead with an impressive 3.5% interest rate, offering unlimited transactions and cashback perks.
• Other online banks and credit unions are hovering around 3.0%–3.25%, making HISAs a flexible choice for those who want liquidity while still earning meaningful returns.

Guaranteed Investment Certificates (GICs)

• For short-term savers, MCAN Wealth is offering 3.65% on a 1-year GIC, one of the highest rates available.
• Longer-term investors can lock in 3.95% for a 5-year GIC with MCAN Wealth, while EQ Bank provides 3.45% on a 5-year term, balancing security with steady growth.
• Credit unions such as WFCU are also competitive, with 3.30% on a 1-year GIC.

Takeaway

For Canadians weighing their options, HISAs provide flexibility and liquidity at rates above 3%, while GICs offer guaranteed returns up to nearly 4% for longer commitments. The choice depends on whether you value access to your funds or prefer locking in for higher yields.