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Where to Find the Best Savings and GIC Rates in Canada This Week

Canadians looking to stretch their savings a little further still have access to competitive high‑interest savings accounts (HISAs) and guaranteed investment certificates (GICs). Digital banks continue to lead the way, offering strong returns without sacrificing security. Here’s a quick snapshot of the top rates available this week. Highest High‑Interest Savings Account Rates Several online‑only institutions are offering some of the most attractive HISA rates right now: Saven Financial – 2.85% Oaken Financial – 2.80% EQ Bank – 2.75% Bridgewater Bank – 2.70% WealthONE Bank – 2.60% These accounts are typically insured either federally or provincially, giving savers both flexibility and peace of mind. Best GIC Rates This Week For those comfortable locking in their money for a set period, GICs continue to provide reliable, guaranteed returns. 1‑Year GIC Leaders Oaken Financial – 3.40% 5‑Year GIC Leaders EQ Bank – 3.85% Longer‑term GICs remain especially appealing for ...
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Black Friday shoppers pulling back on spending

 

 According to a survey by the National Retail Federation, Black Friday sales in the U.S. dropped by 28% compared to 2019, as shoppers avoided crowded stores and opted for online shopping instead.

Here ate the main reasons cited for this trend:

  • Online shopping surge: Online sales on Black Friday reached a record $9 billion, up 21.6% from last year, according to Adobe Analytics. Cyber Monday is expected to be the biggest online shopping day in U.S. history, with sales projected to reach $10.8 billion.
  • Pandemic impact: The coronavirus pandemic has changed consumer behavior and preferences, as people seek convenience, safety, and value. Many retailers have extended their sales period and offered curbside pickup or free delivery options to attract customers.
  • Holiday season outlook: Despite the lower turnout on Black Friday, the NRF predicts that overall holiday sales will increase by 3.6% to 5.2% over 2019, reaching between $755.3 billion and $766.7 billion. However, the uncertainty around the pandemic and the economy could affect consumer confidence and spending.
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