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CI Direct Investing High Interest Savings Account 2024


Fact Checked

The savings account rates offered by the big five banks are not very competitive. With savings rates ranging from 0.01% to 2.00%, you are not getting much in return.

CI Direct Investing recently joined the ranks of financial institutions offering non-promotional high interest rates. Its HISA account has no fees, no minimums, and transactions are free.

Read on to learn about CI Direct Investing’s high-interest savings account, what you get, and how it compares to alternatives.

About CI Direct Investing

CI Direct Investing is a subsidiary of CI Financial, one of the largest investment companies in Canada.

Formerly known as WealthBar, CI Direct Investing offers everyday Canadians access to professionally managed ETF investment portfolios at a low cost.

It also offers socially responsible investment (SRI) portfolios, financial planning, retirement planning, and a free savings account.

As of this writing, CI Direct Investing held over $700 million in assets under management.

CI Direct Investing High-Interest Savings Account

In addition to its investment portfolios, the company also offers a high-interest savings account (HISA) you can open online within minutes.

A savings account is great for holding your emergency funds and for saving towards short-term financial goals, such as a home downpayment, wedding, car purchase, etc.

Features of the CI Direct Investing HISA include:

  • A non-promotional interest rate of 4.00%
  • No account minimum balance
  • No account fees
  • Unlimited deposits and withdrawals

The interest rate is per year, and it is calculated daily and paid out monthly.

Your savings account balance counts towards your overall assets held by CI Direct Investing and may lower the management fees you pay on your investment portfolio.

Is a CI Direct Investing HISA Safe?

CI Direct Investing keeps your funds with one of its custodians:

  • National Bank Independent Network
  • CI Investment Services, and
  • Credential QTrade Securities

These financial institutions are members of the Investments Industry Regulatory Organisation of Canada (IIROC).

They are also members of the Canadian Investor Protection Fund (CIPF), which protects your cash and securities up to $1,000,000.

Benefits of a CI Direct High Interest Savings Account

This savings account puts your money to work and offers these benefits:

  • A high non-promotional interest rate that beats what many of the big banks are offering
  • Quick and easy access to your funds when you need it
  • A no-fee account with unlimited free deposits and withdrawals
  • Your savings balance can lower the investment fees you pay for portfolio management
  • CIPF protection against insolvency up to $1 million
  • Access to free financial advice

Downsides of a CI Direct High Interest Savings Account

A few shortcomings of this account are:

  • It is not available in registered accounts, e.g. TFSA and RRSP. For a savings ETF you can hold in your registered account, CI Investments offers the CI First Asset High Interest Savings ETF (CSAV).
  • Corporate or business savings are not currently offered
  • It is only available in Canadian dollars
  • Some online banks offer higher rates

CI Direct Investing HISA vs. EQ Bank

EQ Bank Personal Account

EQ Bank tfsa.

Up to 4.00%* interest rate

Unlimited debits and bill payments

Unlimited Interac e-Transfers

No monthly account fees

EQ Bank is the online banking of Equitable Bank. Its high interest savings account has the following features:

  • Non-promotional interest rate
  • No monthly fees or minimum balance
  • Free unlimited transactions and Interac e-Transfers
  • Free mobile cheque deposits
  • TFSA and RSP accounts

In addition to savings accounts, EQ Bank also offers Guaranteed Investment Certificates (GICs), a US Dollar account, international money transfers, and a joint account.

CI Direct Investing HISA vs. Neo Financial

Neo Money Account

neo logo

Unlimited 5% average cash back

No monthly fees + $20 bonus

2.25% non-promo interest rate paid on balance

Unlimited free transactions

Get a Mastercard for payments online and ATMs

Access to a no-annual-fee credit card

Neo Financial users can access a free reloadable prepaid card that pays up to 5% cash back on purchases and offers unlimited free Interac e-Transfers.

Your entire balance earns interest at a 2.25% rate.

This account also has a free budgeting app that can help you save money automatically. Read my Neo HISA review.

CI Direct Investing HISA vs. Tangerine

Tangerine Bank is the online subsidiary of Scotiabank. It offers a high interest savings account with the following features:

  • No monthly fee and no minimum balance
  • 1.00% regular savings rate
  • Access to registered accounts such as RRSP, RRIF, TFSA, and US$ savings.

Both CI Direct Investing and Tangerine may vary the interest rate they offer based on the benchmark rates announced by the Bank of Canada.

Tangerine Bank also offers Investment Funds and portfolios.

Rates as of January 26, 2024.

CI High Interest Savings vs. EQ Bank vs. Tangerine

CI HISAEQ Bank HISATangerine HISAWealthsimple Save
Savings Interest rate4.00%Up to 4.00%1.00%1.50%
Monthly account fee$0$0$0$0
Transaction feeUnlimited withdrawals and depositsUnlimited debits, Interac e-Transfers, and withdrawalsUnlimited withdrawalsUnlimited withdrawals
Joint accountNoYesYesYes
Registered accountsNoRRSP, TFSA, GICsRRSP, RRIF, TFSA, RESPNo
Other productsLow-cost ETF portfolios in reg. & non-reg accounts, free financial planning, SRIs, CIPF protectionFree mobile cheque deposits, GICs, reg. & non-reg. accounts, cheap international money transfer, mobile app, CDIC protectionInvestment funds, no-fee chequing account, CDIC protection, mobile appLow-cost ETF portfolios, SRIs, cryptocurrency trading, no-fee brokerage platform, mobile app
ReviewApplyLearn moreLearn more


A high-interest savings account can help you to grow your savings and maintain the purchasing power of your funds to a large extent.

For longer-term financial goals, you may benefit from investing your funds using ETFs inside a portfolio designed to match your risk tolerance.

CI High Interest Savings Account Review


A CI Direct Investing high interest savings account (HISA) offers a rate that beats many of the big banks. Learn more about the CI high interest savings account and what it offers.


Gravatar for Enoch Omololu, MSc (Econ)
Enoch Omololu, MSc (Econ)

Enoch Omololu, personal finance expert, author, and founder of Savvy New Canadians, has written about money matters for over 10 years. Enoch has an MSc (Econ) degree in Finance and Investment Management from the University of Aberdeen Business School and has completed the Canadian Securities Course. His expertise has been highlighted in major publications like Forbes, Globe and Mail, Business Insider, CBC News, Toronto Star, Financial Post, CTV News, TD Direct Investing, Canadian Securities Exchange, and many others. Enoch is passionate about helping others win with their finances and recently created a practical investing course for beginners. You can read his full author bio.

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