Zag Bank ( Desjardins Backed ) has a great rate of 2.5 % on Savings Account

[tjthemanto]

Zag Bank is backed by Desjardins Bank and has a great rate of 2.5 % till June 1, 2015 on its Savings Account & GIC

https://www.zagbank.ca/FinePrint/PromotionWinter2016

Winter 2016 Rate Promotion



2.5% Interest. The best way to start the new year.

That’s why we’re offering 2.5% interest on Zag RRSP Savings accounts until June 1, 2016. There is no minimum deposit required and no minimum balance to reach! Plus the promotional interest rate will apply to all additional deposits made until the end of the promotion period. You can also earn 2.5% on a 2 year term GIC when you open one by June 1, 2016

Promotion Fine Print

Promotional Period

This offer is valid between January 11 and June 1, 2016 (midnight EST), and may be suspended at any time without notice.
Promotional Rate on Zag Savings accounts

The promotional rate is 2.5% on all Zag Savings accounts, (non-registered, TFSA, RRSP), that fulfill the following requirements:

• As of January 11, 2016 a promotional interest rate of 2.5% is applied to all new and existing Zag Savings accounts balances and all new deposits posted to Zag Savings (non-registered, RRSP or TFSA) account before midnight (EST) June 1, 2016.
• The promotional interest rate of 2.5% is also applied to all deposits made to additional Zag Savings accounts opened between January 11, 2016 and June 1, 2016.
• The promotional rate is applicable until June 1, 2016.
• No minimum balance is required.
• An account is deemed as successfully opened when you have satisfied the Product Agreement.
• Interest will be calculated as outlined in the Product Agreement.
• On June 2, 2016, the interest rate published at ZagBank.ca for the relevant product will be applied to their balance and all new deposits.

[tjthemanto]

This is a very safe bank and is CDIC insured and backed by Desjardins bank. So don't be scared to open an account with them

[Ciel]

Interesting-Zag Bank is CDIC insured just like other banks in Canada. However, Desjardins is a credit union, so it falls under provincial credit union laws.