What is High Interest Savings Account?

A High-Interest Savings Account (HISA) is a flexible and secure savings option designed to help Canadians grow their money while maintaining easy access to funds. Unlike traditional savings accounts, a HISA offers higher interest rates, allowing your savings to grow faster while keeping your money safe. There are no investment risks, and funds can be deposited or withdrawn at any time without penalties. HISAs are ideal for emergency funds, short-term savings goals, or holding cash before making larger investments. Many Canadians use HISAs as part of their overall financial strategy to earn competitive returns while maintaining full liquidity and security.