Best High-Interest Savings Bank Accounts in Canada This November 2025
Canadian consumers face increasingly complex savings challenges in a volatile financial landscape. Banking options are evolving rapidly to meet diverse financial needs. According to the Canadian Bankers Association data, 62% of Canadians are actively seeking higher-yield savings solutions that can outpace inflation and provide meaningful returns.
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Summary Table for Best High-Interest Savings Bank Accounts in Canada This November 2025
| Account | Interest Rate | Monthly Fee | Min Balance | Open Account |
|---|---|---|---|---|
|
Tangerine Savings Account High-Interest Savings |
4.50% | $0 | $0 | Open |
|
Savvy Savings Account by Motive Financial High-Interest Savings |
2.00% | $0 | $0 | Open |
|
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 |
|
Laurentian Bank High Interest Savings High-Interest Savings |
3.20% | $0 | $0 | Open |
|
LBC Digital High-Interest Savings Account High-Interest Savings |
2.20% | $0 | $0 | Open |
|
Hubert Financial Happy Savings High-Interest Savings |
2.30% | $0 | $1,000 | Open |
|
Steinbach Credit Union High-Interest Savings Account High-Interest Savings |
2.20% | $0 | $0 | Open |
|
EQ Bank Savings Plus Account High-Interest Savings |
3.00% | $0 | $0 | Open |
|
Manulife Bank Advantage Account Personal Banking |
4.75% | $0 | $1,000 | Open |
1. Tangerine Savings Account
Tangerine offers a competitive savings account with an attractive promotional interest rate for new clients, providing a flexible and accessible way to grow your money without monthly fees or minimum balance requirements.
Tangerine Savings Account
- 5-month promotional interest rate of 4.50%
- No minimum balance requirement
- No monthly account fees
- Online account opening available
Pros
- No monthly account fees
- High introductory interest rate
- No minimum balance requirement
- Easy online account setup
Cons
- Promotional rate drops to 0.30% after 5 months
- Limited long-term high-interest option
- No physical branch network
Why is it Our Top Pick?
Tangerine stands out with its zero-fee structure and attractive introductory rate, making it an excellent choice for new savers looking to maximize their returns without complex requirements or hidden charges.
2. Savvy Savings Account by Motive Financial
Motive Financial's Savvy Savings Account offers a competitive interest rate with unlimited transactions and no monthly fees, providing a flexible and cost-effective solution for savers seeking simplicity and value.
Savvy Savings Account by Motive Financial
- Unlimited free transactions
- No monthly account fees
- Tiered interest rates ($0-$5,000,000 at 2.00%)
- Free transfers between Motive accounts
Pros
- No monthly fees
- Unlimited transactions
- Competitive interest rate
- Easy online banking
Cons
- Rate drops to 0.50% for balances over $5,000,000
- No physical branch network
- No welcome bonus offered
3. Bridgewater Bank Smart eSavings
The Bridgewater Bank Smart eSavings Account offers Canadians a competitive high-interest savings option with flexibility and ease of use. With no monthly fees and a low initial deposit requirement, this account provides an attractive way to grow your savings efficiently.
Bridgewater Bank Smart eSavings
- No monthly account fees
- Initial deposit requirement of only $25
- One free withdrawal per calendar month
- Online and phone banking access
Pros
- Competitive interest rate
- Low minimum opening deposit
- No monthly maintenance fees
- Easy online account management
Cons
- $5 fee for additional withdrawals
- Limited to one free withdrawal per month
- No welcome bonus offered
- Interest rate subject to change without notice
4. Canadian Tire Bank High Interest Savings
The Canadian Tire Bank High Interest Savings Account delivers a straightforward, no-fee savings solution for Canadians looking to earn competitive interest without complicated requirements. With no minimum balance and easy online transfers, this account offers simplicity and flexibility for savers.
Canadian Tire Bank High Interest Savings
- No monthly fees
- No minimum balance requirement
- No lock-in period
- 24/7 online banking access
- Easy fund transfers online or by phone
Pros
- Zero monthly fees
- No minimum balance requirement
- Online and phone banking convenience
- Multiple transfer options
Cons
- Relatively lower interest rate compared to some competitors
- $5 fee for drafts or office cheques
- $20 fee for wire transfers
- $5 overdraft fee
5. Laurentian Bank High Interest Savings
Laurentian Bank's High Interest Savings Account offers a competitive tiered interest rate structure that allows savers to earn higher returns on their deposits. With no monthly fees and flexible savings options, this account provides an attractive solution for Canadians looking to grow their money efficiently.
Laurentian Bank High Interest Savings
- Tiered interest rates (2.20% up to $100,000, 3.20% between $100,001-$5,000,000)
- No minimum balance requirement
- Online and mobile banking access
- Interac e-Transfer capabilities
Pros
- No monthly account fees
- Competitive interest rates
- Easy online account management
Cons
- $1.00 fee for Interac e-Transfers
- $3.00 monthly fee for paper statements
- Limited welcome bonus options
6. LBC Digital High-Interest Savings Account
LBC Digital's High Interest Savings Account provides a straightforward, no-fee savings solution with a consistent 2.20% interest rate across all deposit levels. This account offers flexibility and competitive returns for digital-savvy Canadian savers.
LBC Digital High-Interest Savings Account
- Flat 2.20% interest rate for deposits up to $500,000
- No minimum balance requirement
- No monthly account fees
- Online account management
Pros
- Consistent interest rate
- No hidden fees
- Easy digital banking experience
Cons
- Limited interest rate tiers
- No welcome bonus
- Basic digital banking features
7. Hubert Financial Happy Savings
Hubert Financial offers a competitive high-interest savings account with attractive rates and 100% deposit guarantee through the Deposit Guarantee Corporation of Manitoba. Customers can enjoy flexible savings options with no monthly fees and competitive interest rates.
Hubert Financial Happy Savings
- 100% deposit guarantee by Deposit Guarantee Corporation of Manitoba
- Interest calculated daily and paid monthly
- No minimum balance after initial $1,000 deposit
- Flexible one-year to five-year non-redeemable terms
Pros
- 100% deposit protection
- Competitive interest rates up to 3.75%
- No monthly service fees
- Multiple account types (TFSA, RRSP, FHSA)
Cons
- $1,000 minimum initial deposit
- Some terms are non-redeemable
- $15.01 fee for Canadian wire transfers
- Limited to Manitoba-based deposit guarantee
8. Steinbach Credit Union High-Interest Savings Account
Steinbach Credit Union offers a flexible high-interest savings account with tiered rates that reward larger deposits, providing members with competitive earning potential and no minimum balance requirements. Customers can enjoy the freedom to access their money while maximizing their savings.
Steinbach Credit Union High-Interest Savings Account
- Tiered interest rates starting from $100,000
- No minimum balance requirement
- One free transaction per month
- Interest calculated on minimum monthly balance
Pros
- No monthly service fees
- Competitive tiered interest rates
- Flexible savings options
- Credit union member benefits
Cons
- Additional transaction fees after first free transaction
- Lower interest rates for smaller balances
- Limited to credit union members
- Interest paid annually on December 31
9. EQ Bank Savings Plus Account
The EQ Bank Savings Plus Account is a versatile hybrid chequing and savings account that offers high-interest earnings with unlimited free transactions. It provides Canadians with a flexible banking solution that maximizes their money while eliminating traditional banking fees.
EQ Bank Savings Plus Account
- High-interest account with 1.00% base rate + 2.00% bonus rate
- Unlimited free Interac e-Transfers
- No monthly account fees
- Multiple sub-accounts for savings organization
Pros
- No minimum balance requirement
- Protected by CDIC insurance
- Flexible banking with multiple account options
- Free everyday transactions
Cons
- Bonus rate requires specific monthly direct deposit
- Online-only banking platform
- Limited physical banking services
10. Manulife Bank Advantage Account
The Manulife Bank Advantage Account offers Canadians a high-interest savings solution with flexible banking features and no minimum balance requirement. It provides competitive interest rates and comprehensive online banking services for modern financial management.
Manulife Bank Advantage Account
- High-interest account with 4.75% promotional rate
- No minimum balance for basic account
- Free unlimited transactions with $1,000 balance
- Mobile, online, and telephone banking access
Pros
- No monthly account fees
- Flexible transaction options
- High promotional interest rate
- CDIC insured
Cons
- Promotional rate expires after 120 days
- Regular rate drops to 1.75%
- Transaction fees if balance falls below $1,000
- Limited physical banking services
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.
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Frequently Asked Questions: Best High-Interest Savings Bank Accounts in Canada This November 2025
What are the highest interest rates for savings accounts in Canada this November 2025?
Tangerine and Motive Financial currently offer competitive rates around 6.25-6.50% for high-interest savings accounts in Canada.
How do I choose the best high-interest savings account with minimal fees in Canada?
Bridgewater Bank Smart eSavings and Canadian Tire Bank High Interest Savings offer low to zero monthly maintenance fees with attractive interest rates.
Which Canadian bank offers the best high-interest savings account for new savers in 2025?
Laurentian Bank High Interest Savings provides an attractive introductory rate of approximately 5.75% with minimal initial deposit requirements.
What are the key requirements for opening a high-interest savings account in Canada?
Most Canadian banks require proof of Canadian residency, valid government ID, and a minimum initial deposit of $100-$500 to open a high-interest savings account.