HISA Comparison Calculator
Compare different High-Interest Savings Accounts (HISAs) from Canadian financial institutions. Find the best option based on interest rates, compounding, and your savings goals.
Compare High-Interest Savings Accounts
Add HISA accounts to compare and see which one offers the best returns for your savings goals.
How to Use This Calculator
Step 1: Enter Initial Deposit
Enter the amount you plan to deposit initially into your HISA. This is your starting balance.
Step 2: Set Term Length
Enter how long you plan to keep your money in the HISA. You can specify this in months or years.
Step 3: Add Monthly Contributions (Optional)
If you plan to make regular monthly deposits, enter the amount. This helps you see how your savings will grow over time with contributions.
Step 4: Select Compounding Frequency
Choose how often interest compounds. Most HISAs compound daily or monthly. Daily compounding typically yields slightly higher returns.
Step 5: Add HISA Accounts
Click "Add Another HISA" to add accounts you want to compare. For each account, enter the institution name and interest rate. You can compare up to 5 accounts.
Understanding the Results
Best Option: The calculator automatically identifies which HISA offers the highest returns based on your inputs.
Comparison Table: Shows side-by-side comparison of all accounts, including interest earned, final value, and the difference between accounts.
Chart: Visual comparison showing how each account grows over time.
Monthly Breakdown: See how interest accumulates month by month for each account.
⚠️ Important Disclaimer
This calculator provides estimates for educational purposes. HISA rates change frequently and vary by institution. Always verify current rates directly with financial institutions. Consider other factors like fees, minimum balances, and account features when choosing a HISA.