Comments on: High Interest Rate Savings Accounts http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm Building Wealth through Saving and Investing Sat, 21 Nov 2009 03:00:37 -0500 http://wordpress.org/?v=abc hourly 1 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!

]]> By: blue sky http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm/comment-page-2#comment-68216 blue sky Tue, 27 Jan 2009 07:13:13 +0000 http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm#comment-68216 Hi Alan P Couldn't re-find this site till now. The websit for Outlook is www.outlookfinancial.com although I'm sure you got it by now. Their parent company is Assiniboine Credit Union, based in Winnipeg, Manitoba. From outside Wpg. their number is 1-877-958-7333 & in Wpg is 958-7333. All deposits are guaranteed without limit. But like everyone else they have dropped their interest rates drastically...high interest savings is now 2.80%. They have also dropped the GIC rates.....[1yr cashable...2.85%]--[2yr...3.20%]----[3yr.....3.45%]----[4yr...3.60%]----[5 yr.....3.85%] Hi Alan P
Couldn’t re-find this site till now. The websit for Outlook is
http://www.outlookfinancial.com although I’m sure you got it by now.

Their parent company is Assiniboine Credit Union, based in Winnipeg, Manitoba. From outside Wpg. their number is 1-877-958-7333 & in Wpg is 958-7333.

All deposits are guaranteed without limit. But like everyone else they have dropped their interest rates drastically…high interest savings is now 2.80%. They have also dropped the GIC rates…..[1yr cashable...2.85%]–[2yr...3.20%]—-[3yr.....3.45%]—-[4yr...3.60%]—-[5 yr.....3.85%]

]]> By: Alan P http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm/comment-page-2#comment-65833 Alan P Wed, 31 Dec 2008 23:01:28 +0000 http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm#comment-65833 what would their website be, Sky? what would their website be, Sky?

]]> By: December 2008 Net Worth Update (-0.45%) | Million Dollar Journey http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm/comment-page-2#comment-65791 December 2008 Net Worth Update (-0.45%) | Million Dollar Journey Wed, 31 Dec 2008 11:31:27 +0000 http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm#comment-65791 [...] was due to selling a few loser stock positions for a capital loss and transferring the cash to my savings account. Thus the large drop in non-registered assets. Truth be told, I should have sold off these [...]

[...] was due to selling a few loser stock positions for a capital loss and transferring the cash to my savings account. Thus the large drop in non-registered assets. Truth be told, I should have sold off these [...]

]]> By: Sky http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm/comment-page-2#comment-65790 Sky Wed, 31 Dec 2008 11:31:18 +0000 http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm#comment-65790 Outlook Financial.ca High Interest Savings 3.05 % & checking Citizens Bank Checking 0.05 % 0.05% = 0.0005 = 5 thousandths of a % ...."so don't delay"..big bank philanthropy?? on $20 000 for a year Outlook = $610 Citizens = $10 I use Outlook as a checking & savings account = one free debit a month and I manage with 2 or 3 debits / month. Hey-- for the extra $600 at Outlook, depending on your needs, that's a lot of banking. Outlook Financial.ca High Interest Savings 3.05 % & checking
Citizens Bank Checking 0.05 %

0.05% = 0.0005 = 5 thousandths of a % ….”so don’t delay”..big bank philanthropy??

on $20 000 for a year Outlook = $610 Citizens = $10

I use Outlook as a checking & savings account = one free debit a month and I manage with 2 or 3 debits / month. Hey– for the extra $600 at Outlook, depending on your needs, that’s a lot of banking.

]]> By: DAvid http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm/comment-page-2#comment-64528 DAvid Tue, 16 Dec 2008 15:00:31 +0000 http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm#comment-64528 Alan P, Up to date rates can be found here: http://money.canoe.ca/rates/ DAvid Alan P,
Up to date rates can be found here: http://money.canoe.ca/rates/

DAvid

]]> By: Alan P http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm/comment-page-2#comment-64503 Alan P Tue, 16 Dec 2008 08:40:42 +0000 http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm#comment-64503 Million Dollar Journey, that last post may be a troller/linker, it's for USA markets - lets keep this Canadian, it's hard enough trying to sort through all the numbers in one country. And the interest rates on high-interest rates (and GICs) seem to be dropping, so the lat update at the top of this page may be getting a little old (Ocotober) But maybe you like the dust to settle a little first.... Nevetheless, I appreciate this site! Million Dollar Journey, that last post may be a troller/linker, it’s for USA markets – lets keep this Canadian, it’s hard enough trying to sort through all the numbers in one country.

And the interest rates on high-interest rates (and GICs) seem to be dropping, so the lat update at the top of this page may be getting a little old (Ocotober) But maybe you like the dust to settle a little first….

Nevetheless, I appreciate this site!

]]> By: Pinkmel http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm/comment-page-2#comment-63712 Pinkmel Tue, 09 Dec 2008 19:51:14 +0000 http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm#comment-63712 I have 2 pc financial cheq accounts and a saving. Love it, except in recent months, they have introduced bounced cheq fee of $7 - still lower than BMO charging $35. I would love to have another pc cheq acct to track expenses according but they won't let me. Anyone had experience getting more than 2 pc cheq accounts with them? I have 2 pc financial cheq accounts and a saving. Love it, except in recent months, they have introduced bounced cheq fee of $7 – still lower than BMO charging $35.

I would love to have another pc cheq acct to track expenses according but they won’t let me.

Anyone had experience getting more than 2 pc cheq accounts with them?

]]> By: Carol http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm/comment-page-2#comment-63536 Carol Mon, 08 Dec 2008 21:51:52 +0000 http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm#comment-63536 HSBC Direct are offering a rate of 3.75% for a promotion on new money. I think it lasts into the new year. As far as I can tell you can also apply for the 2009 tax free savings account through the direct savings account login. HSBC Direct are offering a rate of 3.75% for a promotion on new money. I think it lasts into the new year. As far as I can tell you can also apply for the 2009 tax free savings account through the direct savings account login.

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