High Interest Savings Account

[Esox]

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.

[mahuna]

I would consider a GIC. There are also very good options like cash.to and you can hold both within your TFSA

[The Cook]

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

Yup, getting 5% on a 2year flexible GIC in my TFSA, saving up for a new GAS powered car.

[Big Grey Wolf]

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.

[CDN offroader]

Here is a list from Million Dollar Journey with the pros and cons of all the major ones. https://milliondollarjourney.com/bes...CjQackOO9B6Mst

[Esox]

Originally Posted by CDN offroader

Here is a list from Million Dollar Journey with the pros and cons of all the major ones. https://milliondollarjourney.com/bes...CjQackOO9B6Mst

Very Interesting, thanks for the link

[Au revoir, Gopher]

Canadian Tire Financial Services http://ctfs.com is offering 3.7%, no promo no conditions.

ARG

[Outbound]

Buy cash.to in your TFSA. 5% return.

[pikergolf]

Originally Posted by The Cook

Yup, getting 5% on a 2year flexible GIC in my TFSA, saving up for a new GAS powered car.

So could I put a Canadian Western Bank GIC inside my Qtrade TFSA, how does that work?

[Au revoir, Gopher]

Originally Posted by pikergolf

So could I put a Canadian Western Bank GIC inside my Qtrade TFSA, how does that work?

You can buy GICs from a number of sources through Questrade, but Canadian Western Bank isn't one of them.

ARG

[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.

[Scott h]

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.

[archerynut]

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...

[Cement Bench]

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.

td investment account same 4.55 paid monthly on daily balance no fees

will comment on Canadian western bank later

[Rio56]

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

[lakerman]

5.5% till june high yield savings

[Bushleague]

Originally Posted by lakerman

5.5% till june high yield savings

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.

[lakerman]

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.

[Gerald J]

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%

[Mistagin]

My investment guy just shifted over quite a bundle of our 'cash' into a high interest account at 5.75 %. Manulife.