They really want your money! The high-interest savings and TFSA accounts war.
PcFinancial has just raised their high interest savings account rate to beat ING direct. But you can still find even better rates ...
Here are the current interest rates kings (as of February 11th 2009) * :
Manulife 3.5 % (this seems strangely high - investigating)
Achieva: 2.80%
PcFinancial: 2.55%
HSBC: 2.5%
ING Direct: 2.5%
Canadian Tire Bank: 2.5%
TD: 2.5%
CIBC: 2.5%
BMO: 2.5%
ICICI Bank: 2.5%
Scotia Bank: 2.4%
Outlook Financial: 2.25%
Royal Bank: 2.25%
Etrade 1.75%
(* not looking at short term promotions but including accounts with a 1000$ min balance - I've picked the highest rate between the TFSA accounts and regular high-interest accounts - note that some TFSA accounts have higher fees than others)
please let me know if I've missed key institutions or if there are changes ... I'll try to post regular updates
2 comments:
The rates keep jumping all over the place, it's quite annoying! Just goes to show that you should pick a financial institution that meets your needs in a holistic capacity, because rates can easily drop.
@Saver Queen: there's probably more money to be made in choosing a bank where you won't pay monthly fees and there's no minimum balance to keep in accounts (e.g.: PcFinancial) and get free checks and high interest rates, etc.
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