Comments on: High Interest Rate Savings Accounts http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm Building Wealth through Saving and Investing Sun, 12 Feb 2012 23:42:26 -0330 http://wordpress.org/?v=abc hourly 1 By: Argos http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm/comment-page-3#comment-123617 Argos Thu, 19 Jan 2012 09:57:36 +0000 http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm#comment-123617 I opened a PCF savings account alongside my CIBC account. I think its important to have a brick and mortar bank though, any thought? I opened a PCF savings account alongside my CIBC account. I think its important to have a brick and mortar bank though, any thought?

]]> By: UltimateSmartMoney http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm/comment-page-3#comment-121908 UltimateSmartMoney Mon, 10 Oct 2011 22:18:58 +0000 http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm#comment-121908 I have been very satisfied with ING account. I highly recommend it just like this post states. It really beats the bank rates. I have been very satisfied with ING account. I highly recommend it just like this post states. It really beats the bank rates.

]]> By: Robyn http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm/comment-page-3#comment-119018 Robyn Wed, 23 Feb 2011 05:08:24 +0000 http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm#comment-119018 You get taxed on money that sits in your bank account? Im new at this (and totally confused) and always lived paycheque to paycheque so i have never had to worry before but I am coming into some money in the next few weeks and I am trying to figure out the best way to save and also make some money on it, yet I still need some access to it as monthly withdrawls for rent will be needed. I currently have a scotia money master saving account but I think its one of the lowest interest paying..... help!!!! Robyn You get taxed on money that sits in your bank account? Im new at this (and totally confused) and always lived paycheque to paycheque so i have never had to worry before but I am coming into some money in the next few weeks and I am trying to figure out the best way to save and also make some money on it, yet I still need some access to it as monthly withdrawls for rent will be needed. I currently have a scotia money master saving account but I think its one of the lowest interest paying….. help!!!!

Robyn

]]> By: ITGUY http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm/comment-page-3#comment-111404 ITGUY Sun, 07 Mar 2010 21:35:28 +0000 http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm#comment-111404 "I would check out Canadian Tire Financial Services rates are much higher than either ING or PC, and it is a Canadian Corporation" That may be true, though they're moving everything they can to India. Just ask the poor saps who had train their Indian replacements. “I would check out Canadian Tire Financial Services rates are much higher than either ING or PC, and it is a Canadian Corporation”

That may be true, though they’re moving everything they can to India.
Just ask the poor saps who had train their Indian replacements.

]]> By: BCGray http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm/comment-page-3#comment-108958 BCGray Thu, 31 Dec 2009 20:56:29 +0000 http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm#comment-108958 I would check out Canadian Tire Financial Services rates are much higher than either ING or PC, and it is a Canadian Corporation I would check out Canadian Tire Financial Services rates are much higher than either ING or PC, and it is a Canadian Corporation

]]> By: How to Avoid or Reduce Bank Fees | Million Dollar Journey http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm/comment-page-3#comment-108447 How to Avoid or Reduce Bank Fees | Million Dollar Journey Mon, 14 Dec 2009 10:30:19 +0000 http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm#comment-108447 [...] experience, the bank that comes to mind that offers essential chequing account services for free is PC Financial.  They offer unlimited transactions and cheques for free with no minimum balance.  The [...]

[...] experience, the bank that comes to mind that offers essential chequing account services for free is PC Financial.  They offer unlimited transactions and cheques for free with no minimum balance.  The [...]

]]> By: Financial Pet Peeves | Million Dollar Journey http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm/comment-page-3#comment-107830 Financial Pet Peeves | Million Dollar Journey Thu, 03 Dec 2009 10:30:12 +0000 http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm#comment-107830 [...] you pay bank fees, ask your bank how you can get them removed. If they won’t, there is always PC Financial. I’ve been banking with them for 10 years and I’ve never paid a bank fee, my cheques are free [...]

[...] you pay bank fees, ask your bank how you can get them removed. If they won’t, there is always PC Financial. I’ve been banking with them for 10 years and I’ve never paid a bank fee, my cheques are free [...]

]]> By: Unlimited Chequing Accounts in Canada | Million Dollar Journey http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm/comment-page-3#comment-107565 Unlimited Chequing Accounts in Canada | Million Dollar Journey Thu, 26 Nov 2009 10:31:34 +0000 http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm#comment-107565 [...] is even more surprising is that President’s Choice Financial is a division of CIBC. I bank with PC Financial and regularly use CIBC machines at no cost. When I [...]

[...] is even more surprising is that President’s Choice Financial is a division of CIBC. I bank with PC Financial and regularly use CIBC machines at no cost. When I [...]

]]> By: Sept 2009 Net Worth Update (+2.78%) – Pension Buy Back Edition | Million Dollar Journey http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm/comment-page-3#comment-105609 Sept 2009 Net Worth Update (+2.78%) – Pension Buy Back Edition | Million Dollar Journey Wed, 30 Sep 2009 21:18:16 +0000 http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm#comment-105609 [...] savings accounts are held with PC Financial and ING Direct. We usually hold a fair bit of cash in case “something” comes up. The [...]

[...] savings accounts are held with PC Financial and ING Direct. We usually hold a fair bit of cash in case “something” comes up. The [...]

]]> By: Steve http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm/comment-page-3#comment-105345 Steve Mon, 21 Sep 2009 18:00:21 +0000 http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm#comment-105345 Why are the interest rates being offered getting slashed so much? I was just logged into ING and it's now 1.05%. A year ago it was over 3%! A year ago with BMO I was getting 0.75% on my savings and now it's 0.25%. And the GIC rates have plunged too. It's a joke. I know the economy hasn't been doing well but while the all banks have lowered the interest rates on savings accounts, they sure haven't lowered the amount of fees that they charge users*. You would think with today's economy, that encouraging people to save would be good for the banks. - Steve * I am well aware that some of the above banks have no fee accounts. Why are the interest rates being offered getting slashed so much? I was just logged into ING and it’s now 1.05%. A year ago it was over 3%! A year ago with BMO I was getting 0.75% on my savings and now it’s 0.25%. And the GIC rates have plunged too. It’s a joke.

I know the economy hasn’t been doing well but while the all banks have lowered the interest rates on savings accounts, they sure haven’t lowered the amount of fees that they charge users*. You would think with today’s economy, that encouraging people to save would be good for the banks.

- Steve

* I am well aware that some of the above banks have no fee accounts.

]]> By: High Interest Rate Savings Accounts | Million Dollar Journey | Mo' Money Links http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm/comment-page-3#comment-105257 High Interest Rate Savings Accounts | Million Dollar Journey | Mo' Money Links Thu, 17 Sep 2009 17:39:07 +0000 http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm#comment-105257 [...] http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm [...]

[...] http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm [...]

]]> By: Alastair http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm/comment-page-3#comment-102297 Alastair Wed, 26 Aug 2009 15:29:00 +0000 http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm#comment-102297 Thanks for the info. $25 should be headed your way! Thanks for the info. $25 should be headed your way!

]]> By: How Canada Savings Bonds and Canada Premium Bonds Work | Million Dollar Journey http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm/comment-page-3#comment-101951 How Canada Savings Bonds and Canada Premium Bonds Work | Million Dollar Journey Tue, 25 Aug 2009 10:30:43 +0000 http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm#comment-101951 [...] to purchase CSBs, I don’t see any real advantage of this product over a conventional GIC or high interest rate savings account.  In fact, a high interest savings account has the same/or higher interest (currently), but with [...]

[...] to purchase CSBs, I don’t see any real advantage of this product over a conventional GIC or high interest rate savings account.  In fact, a high interest savings account has the same/or higher interest (currently), but with [...]

]]> By: ING Direct Review and $25 Referral Bonus | Million Dollar Journey http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm/comment-page-3#comment-99797 ING Direct Review and $25 Referral Bonus | Million Dollar Journey Mon, 17 Aug 2009 10:30:35 +0000 http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm#comment-99797 [...] direct is an online bank (covered by CDIC)  similar to the PC Financial high interest savings account.  That is, you do all your basic banking elsewhere, but you can transfer money back to forth to [...]

[...] direct is an online bank (covered by CDIC)  similar to the PC Financial high interest savings account.  That is, you do all your basic banking elsewhere, but you can transfer money back to forth to [...]

]]> By: High End Chequing Account Comparison | Million Dollar Journey http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm/comment-page-3#comment-86728 High End Chequing Account Comparison | Million Dollar Journey Thu, 11 Jun 2009 10:31:08 +0000 http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm#comment-86728 [...] I’m all about the free chequing accounts.  Whether it’s completely free, like what PC Financial offers, or free after keeping a minimum balance.  However, I was doing some surfing on available chequing [...]

[...] I’m all about the free chequing accounts.  Whether it’s completely free, like what PC Financial offers, or free after keeping a minimum balance.  However, I was doing some surfing on available chequing [...]

]]> By: Reader Mail: What to do with $5,000? | Million Dollar Journey http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm/comment-page-3#comment-82529 Reader Mail: What to do with $5,000? | Million Dollar Journey Thu, 14 May 2009 10:31:20 +0000 http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm#comment-82529 [...] Mark is looking for some ideas on what to do with the money.  To start, lets look at his goal.  In 5 years, he plans to purchase a property which means his $5,000 could go towards a portion of the down payment.  With this in mind, he could either continue maxing out his RRSP (1-2k room) and put the remainder in a 5 year GIC.  Even with today’s low interest rate environment, if you look hard enough, you can find rates in the mid 3% range.  It’s not much after taxes, but better than current high interest rate savings accounts. [...]

[...] Mark is looking for some ideas on what to do with the money.  To start, lets look at his goal.  In 5 years, he plans to purchase a property which means his $5,000 could go towards a portion of the down payment.  With this in mind, he could either continue maxing out his RRSP (1-2k room) and put the remainder in a 5 year GIC.  Even with today’s low interest rate environment, if you look hard enough, you can find rates in the mid 3% range.  It’s not much after taxes, but better than current high interest rate savings accounts. [...]

]]> By: Helpplease http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm/comment-page-2#comment-71966 Helpplease Fri, 27 Feb 2009 03:59:35 +0000 http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm#comment-71966 Hi! I am wondeirng if anyone has heard of Primerica, their dealings, and what they offer. An associate at work is a representative of the company who would like to come over present his company. I have looked online and cannot find any hard information on who they are and what they offer. Can anyone offer up advice? Also, I am looking to begin investing for the short term (another home) and the long term (retirement). Where would my money be best invested? I am also looking to invest for my child education. I was considering the standard family RESP, though have heard that it is sometimes better to invest in a high interest savings account. I do not see the advantage to this, as I am sure I would be taxed on the interest earned. Any advice? Thank you. Hi!
I am wondeirng if anyone has heard of Primerica, their dealings, and what they offer. An associate at work is a representative of the company who would like to come over present his company. I have looked online and cannot find any hard information on who they are and what they offer. Can anyone offer up advice?
Also, I am looking to begin investing for the short term (another home) and the long term (retirement). Where would my money be best invested? I am also looking to invest for my child education. I was considering the standard family RESP, though have heard that it is sometimes better to invest in a high interest savings account. I do not see the advantage to this, as I am sure I would be taxed on the interest earned. Any advice?
Thank you.

]]> By: kevinw http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm/comment-page-2#comment-69703 kevinw Mon, 09 Feb 2009 20:53:59 +0000 http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm#comment-69703 check out maxa financial 4.55 gic rates up to 7 yrs...its the best around that I can find check out maxa financial 4.55 gic rates up to 7 yrs…its the best around that I can find

]]> By: DAvid http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm/comment-page-2#comment-68877 DAvid Mon, 02 Feb 2009 19:29:28 +0000 http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm#comment-68877 Carole, So where did you move your money? All the time it sits outside the TFSA the interest earned attracts taxes, giving you an even poorer return..... DAvid Carole,
So where did you move your money? All the time it sits outside the TFSA the interest earned attracts taxes, giving you an even poorer return…..

DAvid

]]> By: Carole http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm/comment-page-2#comment-68873 Carole Mon, 02 Feb 2009 19:01:02 +0000 http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm#comment-68873 Check out PCF now as they slashed their interest rate on TFSA from 3.5% to 2.55 as soon as people signed in to the new account within two weeks. Also cut their highest interest plus account from 3.05% to 2.25 I have moved every penny out fast...sounds like bait and switch to me! Check out PCF now as they slashed their interest rate on TFSA from 3.5% to 2.55 as soon as people signed in to the new account within two weeks.
Also cut their highest interest plus account from 3.05% to 2.25 I have moved every penny out fast…sounds like bait and switch to me!

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