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04-05-2024, 09:26 AM
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Join Date: May 2012
Posts: 1,202
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High Interest Savings Account
Alright, who has the best, no fee high interest savings account right now? Im currently with TD but looking for the best one to stash my holiday/hunting fund money in to grow. Have a big trip planned in 3 years and have most of the cash stashed away already for it but figured I might as well make it useful while I have it.
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04-05-2024, 09:49 AM
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Join Date: Sep 2018
Posts: 24
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I would consider a GIC. There are also very good options like cash.to and you can hold both within your TFSA
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04-05-2024, 10:32 AM
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Join Date: Jun 2014
Location: Canmore
Posts: 2,123
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Quote:
Originally Posted by mahuna
I would consider a GIC. There are also very good options like cash.to and you can hold both within your TFSA
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Yup, getting 5% on a 2year flexible GIC in my TFSA, saving up for a new GAS powered car.
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Woke up with a pulse, best day ever
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04-05-2024, 10:38 AM
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Join Date: Sep 2012
Posts: 6,290
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I like to stash extra money in Canadian Western Bank. They have some GIC's over 5% and always better rates than our Big Four Banks. Most of their $$ is in commercial mortgages in Western Canada.
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04-05-2024, 01:15 PM
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Join Date: May 2012
Posts: 1,202
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Quote:
Originally Posted by CDN offroader
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Very Interesting, thanks for the link
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04-05-2024, 01:17 PM
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Join Date: Oct 2011
Location: Westerose
Posts: 4,127
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Canadian Tire Financial Services http://ctfs.com is offering 3.7%, no promo no conditions.
ARG
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In the immortal words of Jean Paul Sartre, 'Au revoir, gopher'.
Quote:
Originally Posted by sjemac
It has been scientifically proven that a 308 round will not leave your property -- they essentially fall dead at the fence line. But a 38 round, when fired from a handgun, will of its own accord leave your property and destroy any small schools nearby.
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04-05-2024, 01:21 PM
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Join Date: Feb 2011
Location: Grande Prairie
Posts: 757
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Buy cash.to in your TFSA. 5% return.
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04-05-2024, 01:24 PM
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Join Date: Nov 2008
Posts: 11,453
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Quote:
Originally Posted by The Cook
Yup, getting 5% on a 2year flexible GIC in my TFSA, saving up for a new GAS powered car.
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So could I put a Canadian Western Bank GIC inside my Qtrade TFSA, how does that work?
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“One of the sad signs of our times is that we have demonized those who produce, subsidized those who refuse to produce, and canonized those who complain.”
Thomas Sowell
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04-05-2024, 01:37 PM
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Join Date: Oct 2011
Location: Westerose
Posts: 4,127
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Quote:
Originally Posted by pikergolf
So could I put a Canadian Western Bank GIC inside my Qtrade TFSA, how does that work?
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You can buy GICs from a number of sources through Questrade, but Canadian Western Bank isn't one of them.
ARG
__________________
In the immortal words of Jean Paul Sartre, 'Au revoir, gopher'.
Quote:
Originally Posted by sjemac
It has been scientifically proven that a 308 round will not leave your property -- they essentially fall dead at the fence line. But a 38 round, when fired from a handgun, will of its own accord leave your property and destroy any small schools nearby.
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04-05-2024, 02:43 PM
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Join Date: Dec 2008
Location: Near Edmonton
Posts: 15,243
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Each bank has a high interest savings in their brokerage accounts. RBC has rbf2010. No fees to buy or sell and no admin fees. Pays 4.55% TD also has a few, one example tdb8150 that pays 4.55% The interest rate can change at anytime up or down so for longer holds gov bonds or gics are better. They also has U.S. dollar versions that pay 4.9 percent.
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04-05-2024, 02:45 PM
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Join Date: Dec 2008
Location: At the lake
Posts: 2,525
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I have both ING and EQ online accounts and both work very well if you want to keep cash on hand, and still get a reasonable return. At present EQ has a 5.35% for a one year GIC vs 5.2% at Tangerine (ING). EQ is 2.5% on a plane jane savings account with some other bonus's. Both banks work well and are very easy to set up an to transfer in and out of.
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04-05-2024, 04:02 PM
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Join Date: Jun 2016
Location: Makepeace, Alberta
Posts: 107
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I work for connectFirst Credit Union. Our Common Shares investments have consistently performed as well or better than most of our term deposits. Last year Common Share accounts paid out a 5.50 percent interest rate. With the ability to purchase up to $200,000 in common shares you just let that sit in your common shares account and the credit union pays dividends. Something to think about...
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04-05-2024, 06:28 PM
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Join Date: Apr 2008
Location: alberta
Posts: 1,989
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Quote:
Originally Posted by Dean2
Each bank has a high interest savings in their brokerage accounts. RBC has rbf2010. No fees to buy or sell and no admin fees. Pays 4.55% TD also has a few, one example tdb8150 that pays 4.55% The interest rate can change at anytime up or down so for longer holds gov bonds or gics are better. They also has U.S. dollar versions that pay 4.9 percent.
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td investment account same 4.55 paid monthly on daily balance no fees
will comment on Canadian western bank later
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04-05-2024, 06:36 PM
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Join Date: Mar 2015
Posts: 1,805
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There's only 2 days that matter with mutual funds
The day you BUY and the day you take out ...
everything in between is nonsense
now a TD GIC is a great investment
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04-05-2024, 07:12 PM
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Join Date: Jul 2007
Posts: 506
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bmo
5.5% till june high yield savings
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Keep taxing me so 'll never be a millionare or live like one!
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04-05-2024, 07:56 PM
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Join Date: May 2014
Posts: 3,589
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Quote:
Originally Posted by lakerman
5.5% till june high yield savings
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Where are you getting 5.5? I locked in a bunch of new cash in Feb through ATB at 5.3% for one year. A couple weeks later some previous accounts had come up for renewal and it was down to 4.9%.
Too, I keep an emergency slush fund in a cashable savings acount and IIRC I was able to get over 4% when I renewed it this year.
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If the good lord didnt want me to ride a four wheeler with no shirt on, then how come my nipples grow back after every wipeout?
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04-06-2024, 06:05 AM
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Join Date: Jul 2007
Posts: 506
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bmo been blowing up my email with offers, I don't respond then they sent me an email saying bonus offers, any new money put it into the account, the banks know how to play the game its not equality for all.
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Keep taxing me so 'll never be a millionare or live like one!
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04-06-2024, 07:58 AM
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Join Date: May 2013
Location: Sherwood Park
Posts: 380
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I don't know if this has been mentioned before in other threads. But regarding GICs, you will likely get a better rate than the posted rate if you call your bank. An RBC advisor flat out told me that. In October last year, I think the posted rate at RBC for a 1-year non-redeemable GIC was 5.25%. I phoned them up and they said they would get back to me the following day with the best rate they could give me. I was expecting that they would say 5.5%. I got it for 5.9%
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04-06-2024, 03:23 PM
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Join Date: Jun 2008
Location: Ft. McMurray and Kingston
Posts: 1,766
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My investment guy just shifted over quite a bundle of our 'cash' into a high interest account at 5.75 %. Manulife.
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