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Thread: High Interest Savings Account
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Sun, Sep 2nd, 2012, 10:29 AM #1
Hi guys,
I am looking for a savings account with high interest. I saw that ING offers 1.35 which is not bad... but AcceleRate Financial offers 2.10 which is appealing. Here is a list of banks and rates. Anyone has any advice or experiences with these banks?
http://www.highinterestsavings.ca/chart/This thread is currently associated with: N/A
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Sun, Sep 2nd, 2012, 10:49 AM #2
If you are going the ING route, are you going to make use of their chequing account also, or just the savings account?? [IF you go the ING route, my Orange key is at the bottom for signing up bonus]
If you're not going to make use of the ING direct Chequing account, go with Ally [http://www.ally.ca] or Canadian Tire Financial [https://www.myctfs.com/] .... I got both and each has a 1.80% interest rate.
I haven't used AcceleRate Financial, so I can't comment on their servicePlease use my Orange Key when Signing up for ING DIRECT. When your first deposit is $100 or more, you will get a bonus of $25.
Orange Key is 34407850S1
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Sun, Sep 2nd, 2012, 11:22 AM #3
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Hey Bamboo,
I'm obvioulsy with ING lol but I might also be looking elsewhere to make a quick move if ScotiaBank decides to ramp up the fees/lower rates. Ally and Canadian Tire are not offered to us in Quebec (Yayy.....) So you really only have Maxa, Outlook Accelerate and Achieva that are insured and available to you.
I'll let u know if I make a move. I might give accelerate a call Tuesday... you know just to check how reliable they are!MY ORANGE KEY 16680564S1
Every time a friend opens a Tangerine Account with $100 or more and uses your Orange Key, you'll both get $25.
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Sun, Sep 2nd, 2012, 03:49 PM #4
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Sun, Sep 2nd, 2012, 05:12 PM #5
i use both ally and ing, although the lower rates at ing are bugging me....
no fees at either
acheivia has fees, and lots of them!!! check it first
easy and free to move money around in both ing and ally, ally terms deposits calculate and deposit interest monthly (i think the interest is calculated daily) and that makes a difference!!
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Mon, Sep 3rd, 2012, 11:51 AM #6
The difference between 1.35% and 1.5% is only a few dollars a year (unless you have a huge amount of money), is that even worth the trouble of moving your money to a different bank?
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Mon, Sep 3rd, 2012, 12:32 PM #7
Depending how much money you have just "sitting", you might want to consider a short term GIC? You can also get monthly interest payments if you want. It's safe and slightly higher than "best" saving account rates.
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Mon, Sep 3rd, 2012, 02:03 PM #8
Hey,
Thanks for all the answers!
Agreed Brad, I wouldn't bother to move it for a small amount.
MQ, do you know where can I find a monthly interest payments account? I am In Quebec so Ally is not an option for me and I don't want to move it to unless I can get 2%.
Thanks!
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Mon, Sep 3rd, 2012, 10:51 PM #9
Are you referring to GIC's? I can get you monthly int. payments for a 3 yr. GIC at 2.15%, a 4 yr. GIC at 2.2, or a 5 yr. at 2.35% but the minimum is $5000.( to compare . . if you did annual int. it would be 2.35, 2.4 and 2.55 respectively) Certainly I would encourage you to shop around though. SOmetimes smaller institutions give better rates.
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Tue, Sep 4th, 2012, 06:29 PM #10
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I calculated just for fun, on a 50k investment... in 1 year the interest you will get with:
1.35% is $679.19
1.50% is $755.18
1.80% is $907.46
2.10% is $1060.17
Quite a big difference between ING and AcceleRate!MY ORANGE KEY 16680564S1
Every time a friend opens a Tangerine Account with $100 or more and uses your Orange Key, you'll both get $25.
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Sun, Oct 20th, 2013, 12:32 PM #11
was just about to post a thread asking about this. thanks!
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Tue, Oct 22nd, 2013, 07:49 PM #12
peoples trust is at 1.9% .
TFSA is at 3% constants for 3 years.
http://www.peoplestrust.com/main/?en&today_ratesAlways have your stuff when you need it with @Dropbox. Get up to 18 GB in free online storage when you sign-up using this link -> http://db.tt/218DjYg
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Tue, Oct 22nd, 2013, 09:44 PM #13
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I am with peoples trust now (for TFSA)I was with ING but I am not so sure about them anymore( for savings alone),their interest rates really don't stay that high anymore. But I still use their chequeing/savings accounts for money in lesser amounts and just a tip....
children's savings account interest rate has been at 2 %...I did open one for my daughter but I decided to sneak my savings in there while the interest rate is higher then the ISA,lol.
She is obviously too young to know to manage her money right now anyways and I am in charge so ...haha.Sorry if this is a big no no that I don't know about, maybe I shouldn't be doing it, just trying to help,lol.Last edited by kris10; Tue, Oct 22nd, 2013 at 09:45 PM.
https://legerweb.com/VADJC Join Leger Web And Start Earning Today =)
34591328S1 Sign Up at ING Direct With This ORange Key To Receive Free $50
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Wed, Oct 23rd, 2013, 06:17 PM #14
People's rate is 1.8%....
I transferred all of my cash from ING to People's yesterday....my GIC's had all come due and 1.8 beats 1.35 any day. Sorry ING, but you need to buck up if you want my money to play with.
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