Best Bank Accounts in Canada This November 2025
Canadian consumers face a complex landscape of banking options that can significantly impact their financial well-being. According to Statistics Canada, 62% of Canadians are actively seeking more competitive banking solutions that offer better interest rates and fewer fees. This comprehensive guide will explore the top bank accounts that provide maximum value, helping you make an informed decision about your financial future. Whether you're looking to maximize savings or reduce banking costs, understanding the credit card options can complement your bank account strategy.
Jump to
Summary Table for Best Bank Accounts in Canada This November 2025
| Account | Interest Rate | Monthly Fee | Min Balance | Open Account |
|---|---|---|---|---|
|
Bridgewater Bank Smart eSavings High-Interest Savings |
2.80% | $0 | $25 | Open |
|
Canadian Tire Bank High Interest Savings High-Interest Savings |
2.40% | $0 | $0 | Open |
|
Hubert Financial Happy Savings High-Interest Savings |
2.30% | $0 | $1,000 | Open |
|
Laurentian Bank High Interest Savings High-Interest Savings |
2.20% | $0 | $0 | Open |
|
Motive Financial Motive Savvy Savings High-Interest Savings |
2.00% | $0 | $0 | Open |
|
Achieva Financial Achieva Savings High-Interest Savings |
1.90% | $0 | $0 | Open |
|
Manulife Bank Advantage Account Personal Banking |
4.75% | $0 | $1,000 | Open |
|
MAXA Financial MAXA Savings High-Interest Savings |
4.00% | $0 | $0 | Open |
|
Alterna Bank High Interest eSavings High-Interest Savings |
1.15% | $0 | $0 | Open |
|
EQ Bank Personal Account Personal Banking |
3.00% | $0 | $0 | Open |
1. Bridgewater Bank Smart eSavings
Bridgewater Bank's Smart eSavings Account offers Canadian savers a competitive high-interest option with low barriers to entry. With an attractive interest rate and flexible features, this account provides an excellent opportunity to grow your savings efficiently.
Bridgewater Bank Smart eSavings
- No monthly account fees
- Only $25 initial deposit requirement
- Free first withdrawal per calendar month
- Online and phone account access
Pros
- Low minimum initial deposit
- No monthly account fees
- Competitive interest rate
- CDIC insured
Cons
- $5 fee for additional withdrawals
- No welcome bonus
- Online-focused account
- Limited physical branch access
Why is it Our Top Pick?
Bridgewater Bank's Smart eSavings Account stands out for its competitive 2.80% interest rate and minimal entry requirements. The account provides flexibility with one free monthly withdrawal and no minimum balance maintenance, making it an attractive option for both casual and serious savers.
2. Canadian Tire Bank High Interest Savings
Canadian Tire Bank's High Interest Savings Account delivers a straightforward, fee-free savings solution with a competitive interest rate. Designed for digital-first savers, this account offers simplicity and flexibility without compromising on returns.
Canadian Tire Bank High Interest Savings
- No monthly fees
- No minimum balance requirement
- Online and phone fund transfers
- 24/7 digital account access
Pros
- Zero monthly fees
- No minimum balance
- Competitive interest rate
- Easy online management
Cons
- Slightly lower interest rate than competitors
- No physical branch support
- Limited additional banking services
- No welcome bonus
3. Hubert Financial Happy Savings
Hubert Financial offers a compelling high-interest savings account with guaranteed deposit protection through the Deposit Guarantee Corporation of Manitoba. Customers can earn competitive interest rates while enjoying the security of a fully backed savings platform.
Hubert Financial Happy Savings
- 100% deposit guarantee by Manitoba Deposit Guarantee Corporation
- Interest calculated daily and paid monthly
- No minimum balance after initial $1,000 deposit
- Flexible one-year to five-year non-redeemable terms
Pros
- Guaranteed deposit protection
- Competitive interest rates up to 3.75%
- No monthly service fees
- Accessible online banking platform
Cons
- $1,000 minimum initial deposit
- Non-redeemable terms for longer investments
- $15.01 fee for Canadian wire transfers
- Limited to Manitoba deposit guarantee
4. Laurentian Bank High Interest Savings
Laurentian Bank's High Interest Savings Account offers a tiered interest rate structure that rewards higher account balances, providing customers with an attractive way to grow their savings with flexible digital banking options.
Laurentian Bank High Interest Savings
- Tiered interest rates (2.20% up to $100,000)
- No monthly account maintenance fees
- Digital banking through LBCDirect
- Flexible transaction options
Pros
- No minimum balance requirement
- Multiple interest rate tiers
- $0 monthly account fee
- Easy online account management
Cons
- $1.00 fee per Interac e-Transfer
- $3.00 monthly fee for paper statements
- Lower rates for balances over $5,000,000
- No specific HISA welcome bonus
5. Motive Financial Motive Savvy Savings
Motive Financial offers a competitive high-interest savings account with no monthly fees and unlimited transactions. The Savvy Savings account provides an attractive interest rate and flexibility for Canadian savers looking to maximize their earnings.
Motive Financial Motive Savvy Savings
- No minimum balance requirement
- Unlimited transactions
- Competitive interest rate up to $5,000,000
- No monthly account fees
Pros
- High initial promotional interest rate
- No monthly fees
- Unlimited transactions
- No minimum balance requirement
Cons
- Interest rate drops significantly after 120-day promotion
- Lower interest rate for balances over $5,000,000
- Limited to online banking platform
6. Achieva Financial Achieva Savings
Achieva Financial provides a high-interest savings account with competitive rates that have remained among Canada's highest for 20 years. Their Daily Interest Savings Account offers flexibility and accessible savings options for Canadian customers.
Achieva Financial Achieva Savings
- No monthly account fee
- First monthly transaction free
- High-interest savings options
- Accessible savings account
Pros
- Consistently high interest rates
- No monthly fees
- First transaction of the month free
- Flexible savings options
Cons
- $1 fee for subsequent monthly transactions
- Limited physical branch network
- No extensive welcome bonus
7. Manulife Bank Advantage Account
A high-interest savings and chequing hybrid account that offers competitive rates and flexible banking options for Canadians. The Manulife Bank Advantage Account provides attractive interest earnings with no minimum balance requirement and free unlimited transactions.
Manulife Bank Advantage Account
- High-interest account with 4.75% promotional rate for 120 days
- No minimum balance required to open
- Free unlimited everyday banking transactions with $1,000 balance
- Mobile, online, and telephone banking access
Pros
- No monthly account fees
- High promotional interest rate
- Flexible banking options
- CDIC member bank
Cons
- Promotional rate drops to 1.75% after 120 days
- Requires $1,000 balance for free transactions
- Limited to Canadian dollar accounts
- Primarily digital banking platform
8. MAXA Financial MAXA Savings
A digital financial service offering superior investment rates across various account types, with 100% deposit guarantees through the Deposit Guarantee Corporation of Manitoba. MAXA Financial provides flexible and competitive savings options for Canadian investors.
MAXA Financial MAXA Savings
- High-interest savings account
- No minimum deposit requirement
- One free withdrawal per month
- Interest calculated on daily closing balance
Pros
- No monthly maintenance fees
- Digitally operated banking
- Guaranteed deposit protection
- Multiple investment account options
Cons
- Limited to digital banking platform
- Deposit insurance is provincial, not federal
- Restricted to one free monthly withdrawal
- Primarily Manitoba-based institution
9. Alterna Bank High Interest eSavings
Alterna Bank's High Interest eSavings account offers a flexible, no-fee savings solution that allows you to earn high interest without locking in your funds. This digital-first account provides unlimited free transactions and competitive interest rates for Canadian savers.
Alterna Bank High Interest eSavings
- No monthly account fees
- Free, unlimited bill payments and transfers
- Free, unlimited Interac® e-Transfers
- No minimum balance required
Pros
- No minimum balance requirement
- Easy online and mobile banking access
- Competitive interest rate
- Flexible savings options
Cons
- Limited to two free transactions per month
- Additional transactions cost $0.90 each
- No physical branch access
- No welcome bonus offered
10. EQ Bank Personal Account
EQ Bank's Personal Account is a digital banking solution that combines the flexibility of a chequing account with high-interest earning potential. Designed for tech-savvy Canadians, it offers free banking, unlimited transactions, and competitive interest rates.
EQ Bank Personal Account
- No monthly fees
- Unlimited free Interac e-Transfers
- Free ATM withdrawals across Canada
- ATM fee reimbursement
- Direct deposit bonus rate
Pros
- No minimum balance requirement
- Unlimited free transactions
- High-interest earning potential
- Free nationwide ATM access
Cons
- Requires direct deposit to maximize interest
- Limited financial product offerings
- Entirely digital banking experience
- No physical branch support
Final Words
Selecting the ideal financial product ultimately depends on your individual goals, spending patterns, and financial situation. We recommend comparing the features and benefits of our top picks, then taking action to optimize your financial strategy for the current market conditions.
About the author
Frequently Asked Questions: Best Bank Accounts in Canada This November 2025
What are the best high-interest savings accounts in Canada for November 2025?
Motive Financial Motive Savvy Savings and Laurentian Bank High Interest Savings currently offer top-tier rates around 5.50% with no monthly fees.
Which bank accounts in Canada have the lowest fees this month?
Canadian Tire Bank High Interest Savings and Bridgewater Bank Smart eSavings provide competitive low-fee options with no minimum balance requirements.
How do I choose the right savings account in Canada for maximum returns?
Compare Hubert Financial Happy Savings, Laurentian Bank, and Motive Financial's offerings, focusing on interest rates above 5%, no monthly fees, and easy online accessibility.
What are the requirements for opening a high-interest savings account in Canada?
Most Canadian banks like Bridgewater and Canadian Tire require standard identification, proof of address, and an initial deposit of $100-$500 to open a high-interest savings account.
Which bank accounts in Canada offer the best digital banking experience in 2025?
Motive Financial and Hubert Financial lead with comprehensive mobile apps, instant e-transfers, and integrated budgeting tools for tech-savvy Canadian savers.