How to Use the HISA Comparison Tool
Step-by-step guide to comparing Canadian high-interest savings accounts and finding the best rate for your emergency fund or short-term savings.
Estimated time: 3-5 minutes
AI Generated by TrackMoola
Determine Your Deposit
Enter the lump sum you want to deposit. This could be your emergency fund target from the Emergency Fund Calculator, or any amount you want to save.
Set Monthly Contribution
If you plan to add money regularly, enter your monthly contribution. This shows the compounding effect of consistent saving.
Choose Your Timeframe
Enter how many months you want to project (1-120). For emergency funds, 12 months is a good starting point. For longer goals, extend the timeframe.
Compare Accounts
Click 'Compare Accounts'. The results table shows each HISA ranked by projected balance. Look for the 'Top Pick' badge on the winner.
Review Features
Check the feature pills for each account. Look for CDIC insurance (all our listed accounts have it), fee structure, and ease of access.
Study the Growth Chart
The line chart shows how your balance grows over time at each institution. The gap between lines represents the real dollar difference between rates.
Open Your Account
Once you've chosen an account, visit the institution's website to open your HISA. Remember to verify the current rate—rates can change after our last update.