Savings-account coverage — HISA moves and where the real rates sit. See current savings rates →
Compound interest worked at real rates from our boards: $10,000 at the top 5-year GIC rate of 4.30% grows to $12,343.02, which is $193.02 more than simple interest, and doubles in roughly 17 years by the Rule of 72. Current to our August 26 data.
What 'registered' actually buys you, how non-registered interest is taxed (the T5, explained), the order savers fill accounts, and the same 1-year GIC paying 4.00% in three tax lanes on our boards. On $30,000, the TFSA-vs-taxable gap is about $360 a year.
Where TFSA money can sit, guaranteed options first: the best TFSA GIC on our boards pays 4.25%, the top of our HISA board 2.75%, and the market options are explained in principle. Rates current to our August 26 data.
FHSA room in plain math: the annual and lifetime limits, how carry-forward really works, the monthly tax on excess contributions, and the 15-year clock, plus what that room can earn, topped by a 4.00% five-year FHSA GIC on our boards, current to our August 26 data.
How TFSA room accrues, when withdrawals come back, and what over-contributing costs. Then the payoff: the best 1-year TFSA GIC on our boards pays 4.00% against a 2.93% big-bank posted average, current to our August 26 data.
A 5% Promo that lasts three months on a 1% base blends to about 2% over a full year. We work the teaser math in the open, list the strings attached, and show when a plain 4.00% GIC beats the Promo chase.
FHSA first if a home is in sight; otherwise TFSA vs RRSP is a tax-rate-now vs tax-rate-later call. Current limits, carry-forward rules, and what each lane's best GIC pays, including 4.00% across three lanes at one year, current to our August 26 data.
The first home savings account pairs an RRSP-style deduction with a TFSA-style tax-free withdrawal. Who can open one, how it works in plain language, and what FHSA money actually earns, led by the 4.00% five-year FHSA GIC on our boards, current to our August 26 data.