myBetterRate Summary
Current rates scraped daily from Canadian financial institutions and comparison sites. Updated 2026-07-25.
Savings Accounts
| Eligibility | |||||
|---|---|---|---|---|---|
| 1Best | Manulife Bank | Advantage Account | 3.00% | — | — |
| 2 | Wealth One Bank of Canada | High Interest Savings | 3.00% | — | — |
GICs best rate per term
Non-redeemable term deposits. Best available rate shown per term.
| Account Types | ||||
|---|---|---|---|---|
| 1Best | EQ Bank | 5-Year | 4.00% | personal, tfsa, rrsp, fhsa |
| 2 | MAXA Financial | 3-Year | 3.75% | personal, tfsa, rrsp, fhsa |
| 3 | Outlook Financial | 2-Year | 3.70% | personal, tfsa, rrsp, fhsa |
| 4 | MAXA Financial | 1-Year | 3.55% | personal, tfsa, rrsp, fhsa |
| 5 | EQ Bank | 6-Month | 2.75% | personal, tfsa, rrsp, fhsa |
Credit Cards low-rate cards
Low-rate cards for Canadians carrying a balance. Standard 19.99% cards are not listed — switching to a low-rate card on $5,000 saves ~$400/yr.
| Notes | ||||
|---|---|---|---|---|
| 1Lowest | MBNA (TD Bank) | MBNA True Line Gold Mastercard | 8.99% | — |
| 2 | MBNA (TD Bank) | MBNA True Line Mastercard | 12.99% | — |
| 3 | Scotiabank | Scotiabank Value Visa Card | 12.99% | — |
| 4 | RBC Royal Bank | RBC Visa Classic Low Rate Option | 12.99% | — |
| 5 | CIBC | CIBC Select Visa Card | 13.99% | — |
| 6 | BMO Bank of Montreal | BMO Preferred Rate Mastercard | 13.99% | — |
Mortgages
| 1Lowest | 5 yr | Variable | Broker Channel | 3.40% |
| 2 | 3 yr | Variable | Broker Channel | 3.84% |
| 3 | 3 yr | Fixed | Broker Channel | 3.89% |
| 4 | 2 yr | Fixed | Broker Channel | 3.89% |
| 5 | 5 yr | Fixed | Broker Channel | 3.99% |
| 6 | 4 yr | Fixed | Broker Channel | 4.09% |
| 7 | 1 yr | Fixed | Scotiabank | 4.59% |
| 8 | 7 yr | Fixed | Broker Channel | 4.95% |
| 9 | 10 yr | Fixed | Broker Channel | 5.35% |
Variable mortgages are priced at Prime − spread. Current BoC prime rate: 4.45%. Best 5yr variable = Prime − 1.10% · Best 3yr variable = Prime − 0.61%. Rates scraped daily from RateHub broker network.
Auto Loans
| Notes | ||||
|---|---|---|---|---|
| 1Lowest | Dealerhop | New Vehicle Loan — Dealerhop | 6.99% | — |
| 2 | TD Bank | New Vehicle Loan — Big 6 Banks | 7.20% | — |
| 3 | TD Bank | Used Vehicle Loan — Big 6 Banks | 8.49% | — |
| 4 | Clutch | Used Vehicle Loan — Clutch | 8.99% | All credit profiles including near-prime and subprime |
| 5 | LoanConnect | Auto Loan — LoanConnect | 8.99% | All credit profiles; rate depends on credit score |
| 6 | Loans Canada | Auto Loan — Loans Canada | 35.00% | All credit profiles; rate depends on credit score and lender match |
HELOCs
| 1Lowest | TD Bank | TD Home Equity Line of Credit | 4.95% | +0.50% |
| 2 | BMO Bank of Montreal | BMO Home Equity Line of Credit | 4.95% | +0.50% |
| 3 | Scotiabank | Scotiabank STEP (Home Equity Line) | 4.95% | +0.50% |
| 4 | RBC Royal Bank | RBC Homeline Plan (HELOC) | 5.45% | +1.00% |
| 5 | CIBC | CIBC Home Power Plan (HELOC) | 5.45% | +1.00% |
Reverse Mortgages age 55+ · no payments required
Equity release for homeowners 55+. No monthly payments — loan + compounded interest repaid when the home is sold, vacated, or at death. Non-recourse: you never owe more than the home's sale value. Rate premium: ~2.5% above conventional mortgages — compounds over time. 4 Canadian lenders as of 2026: HomeEquity Bank (~75%), Equitable Bank (~23%), Bloom, Home Trust.
| Eligibility | ||||
|---|---|---|---|---|
| 1Lowest | Equitable Bank | Equitable Bank Flex Lite Reverse Mortgage | 6.44% | Age 55+. LTV ≤ 40%. Broker channel only. Urban ON/BC/AB/QC. |
| 2 | HomeEquity Bank | CHIP Reverse Mortgage — 5-Year Fixed | 6.64% | Age 55+. Min home value $250K. All provinces. |
| 3 | Bloom Finance | Bloom SafeRate Reverse Mortgage | 6.69% | Age 55+. ON/AB/BC only. LTV ≤ 55%. |
Compare carefully with HELOCs (Prime+0.50–1.00% ≈ 4.95–5.45%) and conventional refinancing before proceeding. Independent legal advice is strongly recommended (required in some provinces). Rates sourced from WOWA.ca and lender sites 2026-06-18.
Investment loans let you borrow capital to invest in securities. Two main types: dedicated investment loans (purpose-built, advisor-gated, tax-deductible interest) and margin accounts(instantly available via your broker, but callable on demand). Interest is potentially deductible under ITA s.20(1)(c) when funds are used to earn income — verify with a tax advisor.
Dedicated Investment Loans advisor-gated · tax-deductible interest
Purpose-built loans for investing in eligible segregated funds. Application through a licensed financial advisor only — lenders do not deal directly with consumers. Rates cluster at Prime + 0.75% (~5.20%) across all providers. Leverage tiers available: 1:1, 2:1, 3:1.
| Max Loan | Notes | ||||
|---|---|---|---|---|---|
| 1Lowest | B2B Bank | B2B Bank 100% Investment Loan | 5.20% | — | Via licensed financial advisor only. Min TDSR ≤ 40%. |
| 2 | Manulife Bank | Manulife Bank Investment Loan | 5.20% | — | Via licensed financial advisor only. 100% up to $300K; 3:1 up to $1M. |
| 3 | iA Financial Group | iA Financial Investment Loan | 5.20% | — | Via licensed advisor. Income > $65K, strong investment knowledge. $10K–$300K. |
Margin Accounts via your broker · callable
Borrow against securities in your brokerage account. No application beyond account setup — but the loan is callable on demand and brokers can force liquidation at market lows. Cost dispersion is extreme: IBKR at ~3.74% vs Big 6 bank brokerages at 8.75% for identical leverage.
| Notes | ||||
|---|---|---|---|---|
| 1Lowest | Interactive Brokers Canada | Interactive Brokers Margin (CAD) | 3.68% | Self-directed investors. Tiered rate — Tier 1 (≤$130K debit balance). |
| 2 | Wealthsimple | Wealthsimple Margin | 3.95% | Wealthsimple self-directed clients. Rate varies by account tier. |
| 3 | TD Bank | TD Direct Investing Margin | 6.50% | TD Direct Investing account holders. |
| 4 | Questrade | Questrade Margin | 8.70% | Questrade self-directed account holders. |
| 5 | RBC Royal Bank | RBC Direct Investing Margin | 8.75% | RBC Direct Investing account holders. |
| 6 | BMO Bank of Montreal | BMO InvestorLine Margin | 8.75% | BMO InvestorLine account holders. |
Standard-rate credit cards and Big 6 savings products are reference benchmarks only — never recommended as primary products. Rates sourced from institutions and aggregators; verify directly before acting. Tables are sortable — click any column header. Updated 2026-07-25.