Cash Account / HISA Calculator
See how much interest you'll earn in a high-interest savings account over time.
Current HISA rates: 3–4%
Results update automatically as you type.
Current Canadian HISA Rates (2026)
Rates change frequently. Always confirm the current rate with your institution.
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Open Cash Account — Get $25 Free →What is a Cash Account / HISA?
A cash account (also called a high-interest savings account or HISA) is a deposit account that pays interest on your balance — at a much higher rate than a traditional chequing account. Unlike a TFSA or RRSP, there are no contribution limits, but any interest earned is fully taxableas income in the year it's earned.
The best use of a cash account is for your emergency fund (3–6 months of expenses), a short-term savings goal (down payment, vacation, renovation), or money you expect to need within 1–2 years. For longer time horizons, investing in a TFSA or RRSP typically generates far better returns.
Should you save or invest?
A cash account earning 3.5% is great for money you need within 2 years. But for money you won't touch for 5+ years, investing in a TFSA with a diversified ETF (historically 7–9%/year) is likely to generate significantly more wealth over the long run — even after accounting for short-term market volatility.