Skip To Content

Will you save more with High Interest Savings or a GIC?

Trying to decide which savings option will work best for your saving goals? Here are some of the key features to consider as you choose between our High Interest Savings Account (HISA) or GICs.

High Interest Savings Account (HISA)


Access your savings when and how you need.
Our highest earning savings account

With a minimum $500 deposit, earn a guaranteed rate of return with our GICs.

  • Earn interest right from dollar one

  • Tiered rates starting at $100K

  • Deposits guaranteed 100% by the Deposit Guarantee Corporation of Manitoba*

  • Generally higher rates than a variable account

  • Convenient 1 to 5-year terms

  • Deposits guaranteed 100% by the Deposit Guarantee Corporation of Manitoba*

Ideal for:

  • A rainy day fund

  • Everyday savings

  • Saving for a large purchase

Ideal for:

  • Long-term investments

  • Creating a diverse portfolio

  • Saving for a large purchase

*Includes all savings and chequing accounts, RRSPs, RRIFs, TFSAs, and GICs.

Things to consider
  • Are you comfortable locking funds into a term?

If there is a chance you may need to withdraw early, consider either a High Interest Savings Account (HISA) or a GIC with a shorter term.

  • Do you prefer a fixed or variable interest rate?

Variable interest rates change depending on the market, while fixed rates guarantee a set rate of return for the term length.

  • Why not choose a combination of both?

While you set aside your rainy day fund in a High Interest Savings Account, you may also want to open a GIC for longer-term investments.

  • What about an RRSP or TFSA?

Whether you choose High Interest Savings or a GIC, consider saving in your RRSP or TFSA, both of which offer distinct tax advantages. Learn more about these accounts.

Use our savings calculator to see how much you can set aside over time:

Related articles

Budgeting, Investing, Saving

Money Milestones

Read More
Investing, Saving

Financial Fitness and RRSPs: Two roads to retirement

Read More
Investing, Saving

GIC Explorer Guide

Read More

Cookie Consent

We use cookies on our site to improve your experience.