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Ratehub’s 2025 Personal Finance Awards

Natasha Macmillan

Natasha Macmillan, Business Unit Director - Everyday Banking

Over a million Canadians visit Ratehub.ca every year to compare the country’s top banking and investing accounts. Our Personal Finance Awards gives a special shoutout to the top products across a range of 13 categories to simplify your search and help you make the most of your money. Weve also rounded up our favourite credit cards for Ratehub.cas 2025 credit card awards.

Whether you’re a risk-averse saver looking to earn more interest or an investor with the goal of maximizing your portfolio while fending off fees, our Personal Finance Awards winners will bring you closer to achieving your financial goals.

Best high interest savings account - EQ Bank Personal Account

Our best high interest savings account winner 2025 is EQ Bank, which had one of the highest interest rates on the market throughout 2024. In addition to their excellent rate, this savings account includes:

  • No monthly fees
  • No minimum balance requirements
  • Free transfers for withdrawals and deposits
  • CDIC insurance to cover your balance

Best RRSP Savings Account - EQ Bank Retirement Savings Plan 

When it comes to the best RRSP for your money, our best bet (and reigning champion for the past 3 years) is the online-only EQ Bank.

EQ Bank’s Retirement Savings Plan Account leads the pack with the highest standard interest rate for 2024, giving you the most long-term bang for your buck when it comes to growing your money. Plus, it comes packed with other perks, including: 

  • CDIC insured, ensuring that your money is safe and protected by the Government of Canada
  • No monthly fees 
  • Simple account linking for automated contributions
  • Easy to use and no-hassle online portal

Best TFSA - EQ Bank Tax Free Savings Account  

Similarly to RRSPs, EQ Bank’s TFSA is Ratehub’s choice for best TFSA with the highest standard interest rate for 2024 amongst its competitors. This pick helps you grow your money tax-free even faster. This account comes with: 

  • CDIC insured
  • No monthly fees
  • Easy linking to internal or external accounts
  • User-friendly online portal

Best 1 year Non-Registered GIC - Tangerine

Our winner for the best 1 year non-registered GICs is Tangerine. Its 1 year GICs offer industry-leading rates (average interest rate for 2024) in addition to:

  • CDIC insurance
  • $1,000 minimum investment requirement
  • No fees

Best 1 year Registered GIC - Oaken Financial

Our winner for best 1 year registered GICs is Oaken Financial, which is backed by Home Bank and powered by Home Trust Company. Its 1 year GICs offer the highest interest rates amongst competitors. The account also comes with: 

  • CDIC insurance coverage
  • No fees
  • $1,000 minimum investment requirement
  • Easy to use digital app

Best 5 year Non-Registered and Registered GIC - Oaken Financial

Our winner for best 5 year non-registered and registered GICs is Oaken Financial, which is backed by Home Bank and powered by Home Trust Company. Its 5 year GICs offer the highest interest rates amongst its competitors. These accounts also come with: 

  • CDIC insurance coverage
  • No fees
  • $1,000 minimum investment requirement
  • Easy to use digital app

Best Chequing Account - Simplii Financial No Fee Chequing Account 

For the second year in a row, the best chequing account goes to the online-only Simplii Financial No Fee Chequing Account. Although this is an online bank, it is associated with the Canadian Imperial Bank of Commerce (CIBC). Account holders have access to the following features:

  • No monthly fees
  • Unlimited online transactions, Interac e-transfers, and telephone banking
  • No minimum balance requirement 
  • Includes a welcome bonus upon sign-up
  • Access to CIBC ATMs all across Canada without any additional fees

Best Student Bank Account - Scotiabank Student Advantage Plan

For the third year in a row, the Scotiabank Student Advantage Plan was ranked the best student bank account on Ratehub. Not only can you earn Scene+ rewards when you use your debit card, which is one of the best rewards programs in Canada, this account includes a number of critical features for student banking:

  • No monthly fees
  • Unlimited transactions (e-transfers, withdrawals, bill payments, etc.)
  • No minimum balance requirement
  • Earn Scene+ points when using your debit card 
  • Includes a welcome bonus upon sign-up

Best banking offer for newcomers - Scotiabank StartRight

Building a solid financial foundation is one of the top priorities for newcomers to Canada, and having the right banking partner makes things far easier. The Scotiabank StartRight program is our winner for best newcomer banking due to its comprehensive offering, which includes:

  • Generous welcome bonus for completing tasks like setting up payment authorizations and direct deposits
  • Access to a newcomer credit card to build your Canadian credit history
  • Unlimited e-transfers and monthly transactions
  • Free international transfers
  • Monthly account fee waiver with a minimum balance of $4,000

Best Big Bank GIC - CIBC

As a leading Big 5 bank, CIBC offers a competitive interest rate for customers and is our pick for the best big bank GIC. This 1 year non-registered GIC also comes with:

  • CDIC insurance
  • $1,000 minimum investment requirement
  • Easy to open online (for CIBC customers)

Best Robo Advisor - JustWealth

This year, we’ve selected JustWealth as our best robo advisor. As one of the few standalone robo-advisors in Canada, JustWealth specializes — and excels — in automated portfolio management, with the highest 1-year, 3-year, and 5-year annualized total returns among competitors.

Here’s how JustWealth creates high-performing portfolios for retail investors:

  • Offers a wide selection of more than 80 portfolios to suit different investing needs
  • Uses over 50 ETFs from nine providers to ensure access to best-in-class funds
  • Assigns clients a dedicated personal portfolio manager whom you can contact directly
  • Charges a low annual management fee of 0.4%-0.5% (minimum of $4.99/month) that covers all trading, custody and annual account fees

Best Online Brokerage - Questrade

Launched in 1999, Questrade remains one of Canadas fastest-growing online brokerages for good reason. Its well-rounded product offering, while somewhat complex, will satisfy casual and active investors alike. Here are the top features you can expect with this online brokerage:

  • Great initial customer experience with transparent offerings and fees, straightforward account opening experience, etc.
  • Desk top and mobile platforms that make it easy to switch between both and invest on-the-go
  • Commitment to investor growth through education

One caveat to note with this brokerage is its commission and fee structure, which makes it tricky to calculate trading costs even if theyre not the most expensive.

Past winners

2025 Personal Finance Awards Methodology

How do you determine the winners?


Best high interest savings account


Best RRSP savings account


Best TFSA


Best non-registered and registered GIC


Best big bank GIC


Best student bank account


Best chequing account


Best newcomer banking offer


What’s the best bank in Canada?


What are the best online banks in Canada?


What are the best investment accounts in Canada?


What’s the best no-fee chequing account in Canada?