About Saven Financial
Saven Financial is the online-only deposit division of Hamilton-based FirstOntario Credit Union, launched in 2021 as its digital savings arm. It offers high-interest savings accounts and GICs in non-registered, TFSA, FHSA, RRSP and RRIF plans, exclusively online and exclusively to Ontario residents.
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Access: Membership required · Open common bond
Eligible provinces: Ontario
How to join: Apply online via 'Join Us' at savenfinancial.ca (application runs on FirstOntario's onboarding platform) and purchase the $25 FirstOntario membership share.
Notes: Explicitly restricted to Ontario residents — non-Ontario applicants cannot open accounts.
Deposit protection: Financial Services Regulatory Authority of Ontario
prudential regulator + administers the Deposit Insurance Reserve Fund: unlimited on registered accounts, $250,000 non-registered; absorbed DICO in 2019
Current top rates
rates confirmed as of 2026-10-15| GIC ladder | Best rate |
|---|---|
| 1-year GIC | 3.80% |
| 2-year GIC | 4.25% |
| 3-year GIC | 4.30% |
| 4-year GIC | 4.35% |
| 5-year GIC | 4.50% |
Base ladder rates. Institution may have more term rates below.
Rate history builds here as we track this institution's rates over time.
Term deposit rates
— not stated on siterates confirmed as of 2026-10-15Filter rates
| Term | Registration | Redeemable | Compounding | Interest paid | Min–Max deposit | Rate |
|---|---|---|---|---|---|---|
| Short-term — under 1 year | ||||||
| 4 months | Non-regRRSPRRIFTFSA | N | — | Annually | $1k+ reg | 3.20% |
| 4 months | FHSA | N | — | At maturity | $1k+ reg | 3.20% |
| 6 months | Non-regRRSPRRIFTFSA | N | — | Annually | $1k+ reg | 2.75% |
| 6 months | FHSA | N | — | At maturity | $1k+ reg | 2.75% |
| Long-term — 1 year + | ||||||
| 1 year | Non-regRRSPRRIFTFSA | N | — | Annually | $1k+ reg | 3.80% |
| 1 year | FHSA | N | — | At maturity | $1k+ reg | 3.80% |
| 2 years | Non-regRRSPRRIFTFSA | N | — | Annually | $1k+ reg | 4.25% |
| 2 years | FHSA | N | — | At maturity | $1k+ reg | 4.25% |
| 3 years | Non-regRRSPRRIFTFSA | N | — | Annually | $1k+ reg | 4.30% |
| 3 years | FHSA | N | — | At maturity | $1k+ reg | 4.30% |
| 4 years | Non-regRRSPRRIFTFSA | N | — | Annually | $1k+ reg | 4.35% |
| 4 years | FHSA | N | — | At maturity | $1k+ reg | 4.35% |
| 5 years | Non-regRRSPRRIFTFSA | N | — | Annually | $1k+ reg | 4.50% |
| 5 years | FHSA | N | — | At maturity | $1k+ reg | 4.50% |
No rates match these filters.
Savings & chequing rates
rates confirmed as of 2026-10-15Filter rates
| Type | Product | Calculated | Paid | Min. balance | Rate |
|---|---|---|---|---|---|
| Savings | |||||
| HISA | HISA | — | — | — | 2.85% |
| RRSP | |||||
| RRSP | RRSP | — | — | — | 2.85% |
| RRIF | |||||
| RRIF | RRIF | — | — | — | 2.85% |
| TFSA | |||||
| TFSA | TFSA | — | — | — | 2.85% |
| FHSA | |||||
| FHSA | FHSA | — | — | — | 2.85% |
No rates match these filters.
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