Overview
A High-Interest Savings portfolio (HISP) is a low-risk, interest-yielding portfolio designed to reduce your exposure to market volatility. Unlike guaranteed investment certificates (GICs), there's no minimum holding period, and you can access your funds at any time.
Wealthsimple clients earn interest on cash invested in a HISP, however, we may use alternative savings funds in some cases.
Opening a High-Interest Savings Portfolio
We may recommend a High-Interest Savings Portfolio to you based on your answers to the managed portfolio risk assessment. You can't open a HISP yourself in your Wealthsimple profile.
If you'd like to open a similar account, you can consider opening a chequing account or a Registered Savings Account.
Fees
Our standard fees apply. Wealthsimple’s standard management fee is 0.5%. For accounts over $100,000, this fee drops down to 0.4%. Learn more about fees.
Interest rate
The current interest rate is 3.05% gross of fees. Interest rates can change at any time and fluctuate alongside bank lending rates.
Frequently asked questions
How will I receive interest in my account?
Interest is calculated based on a daily closing balance, the value in the account at 11:59 PM EST each day. It is then paid out monthly, with interest accumulated in each calendar month to be paid out within 7 business days of the 1st of the following month. Interest on new deposits to your account starts accruing 1 business day after the deposit is made.
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