About

About LoonieSmart

Honest money advice
for everyday Canadians

We’re not a bank. We don’t sell financial products. We just do the research — and explain it in plain English.

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The LoonieSmart Team
Founder & Editor, LoonieSmart

I started LoonieSmart after realising how much money I was losing by keeping my savings in a big bank account at 0.01% interest. I’m a Toronto-based finance enthusiast, and I built this site to share the research I wish I’d had years ago. Every guide on LoonieSmart is written and verified by me personally.

📍 Toronto, Canada

Why we started LoonieSmart

Most Canadians with savings at TD, RBC, or Scotiabank are earning 0.01% to 0.55% interest per year. At the same time, online banks like EQ Bank and Neo Financial are offering 3.00% or more on everyday balances — with the same CDIC deposit insurance and zero monthly fees.

The gap isn’t well-known. That’s the problem LoonieSmart is here to solve. We research Canada’s best savings accounts, GICs, credit cards, and investment options every month — and explain them in plain, jargon-free English so that anyone can make a better decision.

We’re not affiliated with any bank. We don’t get paid to rank certain products higher. Our only job is to give you accurate, up-to-date information so you can decide for yourself.

🇨🇦 Canadian-focused
🔄 Updated every month
🔍 Editorially independent
🏦 CDIC verified
💬 Plain English, always

What we stand for

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Independent research
Every interest rate we publish is verified directly with the financial institution before we post it. We don’t rely on press releases or third-party rate aggregators.
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Plain language
Finance is full of unnecessary jargon. We write every guide the way we’d explain it to a friend — clearly, honestly, and without assuming any prior knowledge.
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Always up to date
Interest rates change frequently. We update every comparison guide monthly so the numbers you’re reading reflect what you’d actually earn if you opened an account today.
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Canada only
We only cover Canadian accounts, Canadian tax rules (TFSA, RRSP, FHSA), and CDIC-protected institutions. No US content mixed in, ever.

How we research and verify our guides

Every comparison guide on LoonieSmart follows the same process before it gets published:

  • 1
    We identify the accounts to compare
    We research the most relevant accounts in each category — prioritising those with the best rates, lowest fees, and strongest deposit insurance coverage.
  • 2
    We verify rates directly on each institution’s website
    Every interest rate we publish is taken from the bank’s official published materials on the date we update the article. We note the date of verification clearly at the top of every guide.
  • 3
    We confirm CDIC membership for every institution
    We check every institution’s CDIC membership status at cdic.ca before including them in any comparison. Accounts with only provincial insurance are clearly labelled.
  • 4
    We update every guide monthly
    At the start of each month, we revisit every published guide to check for rate changes, new products, and any other updates. The “last updated” date at the top of each post reflects when we last verified the information.
  • 5
    We rank by data, not by commission
    Our rankings are determined by rate, fee structure, CDIC coverage, and accessibility — not by which programs pay us the highest commission. A product we don’t have an affiliate relationship with will always outrank one we do if it’s genuinely better.

How LoonieSmart makes money

LoonieSmart is free to read and always will be. To keep the site running, we participate in affiliate programs — meaning we may earn a small commission when you open an account through one of our links, at no extra cost to you.

Affiliate Disclosure: Some links on LoonieSmart are affiliate links. If you open an account or sign up for a service through our link, we may receive a commission from the provider. This commission never influences our rankings or recommendations — products are ranked based on rate, fees, and safety criteria only. We only recommend accounts and services we would genuinely use ourselves.

We believe this is a fair trade: you get free, thoroughly researched financial guidance, and we earn enough to keep the lights on. We’re always transparent about which links are affiliate links, and our editorial process is never influenced by commercial relationships.

Important disclaimer

LoonieSmart is an independent personal finance website. We are not licensed financial advisors and nothing on this site constitutes personalised financial advice. All content is for informational and educational purposes only.

Interest rates, fees, and product features change frequently. While we update our guides monthly, always verify the current rate and terms directly with the financial institution before opening any account or making any financial decision. If you need personalised financial advice, please consult a licensed financial advisor.