Category Archives: Savings Accounts

TD Canada Trust Guaranteed Investment Account Interest Rate Bonus

Attention all Canadian savers. I just came across this special savings account offer from TD Canada Trust, which as you should know is one of Canada’s largest banks. What they’re offering is an interest rate bonus for all new clients that open up one of their “Guaranteed Investment Accounts” Contrary to the name, it is not a GIC but a mere high interest savings account. I’m a little bit late in reporting about this promotional offer, but not to worry as the offer will be valid until December 12, 2008. December is fast approaching so if this savings account interests you then you may wish to open up an account right away.

Here are the details of this offer (courtesy of the TD Canada Trust website):

Open a TD Canada Trust Guaranteed Investment Account between October 14, 2008 and December 12, 2008 and earn an interest rate bonus on every dollar you deposit until March 31, 2009. Deposit as much as you want, as often as you want, and get the bonus rate until March 31, 2009. The sooner you act, the more interest you’ll earn.

Account Balance Premium Interest Rate (as of
October 1, 2008)
Guaranteed Bonus Rate (October 14, 2008 to
March 31, 2009)
Total Interest on Deposits (up to
March 31, 2009)
$5,000 or more 2.25% 1.25% 3.50%
Less than $5,000 0.00% 2.25% 2.25%

 Interest rates may change at any time without prior notice.

Access your money when you want it

There’s no need to “lock in” your money. You can access your savings any time, 24 hours a day, seven days a week through TD Canada Trust’s Green Machine ABMs, EasyWeb Internet banking or EasyLine telephone banking. You can also visit any TD Canada Trust branch or you can speak with a TD Canada Trust or TD Waterhouse representative about how this savings account offer.

Account Features:

  • Premium interest rate
  • Rate guarantee on balances of $5,000 or greater
  • Access to your money through EasyWeb, EasyLine, Green Machine and branches
  • Unlimited free deposits
  • Free paperless, monthly statement or passbook record keeping
  • One free debit transaction each month; additional debits are $5 each after the first free debit
  • No maturity date or minimum deposit, however, no interest is currently paid on balances below $5,000

Account Options:

  • EasyWeb Internet banking service
  • 24-hour EasyLine telephone service
  • Pre-authorized Transfer Service

Now for the fine print, except I’ll make it BIG print

Your Guaranteed Investment Account will earn, commencing on the second business day after account opening, a bonus interest rate of 1.25% per annum on balances of $5,000 or more and 2.25% per annum on balances of less than $5,000, above the regular posted rates for this type of account until March 31, 2009. Regular posted rates only shall apply thereafter. Interest is paid monthly on the total daily closing balance of each tier of the account. Bonus interest will be calculated separately from the regular interest and will be credited to the account at the end of the month. For accounts opened online, account opening documentation, if applicable, must be signed and returned to TD Canada Trust by January 16, 2009. Interest rates are subject to change without notice.

So, was the print big enough for you folks? It was? I thought so too. The 3.50% (assuming you’ll deposit $5000+) is really good – it’s one of the highest you can get here in Canada. The limited time nature of the interest rate bonus sucks though, but if you’ve got a lot of cash you want to keep in a safe savings account for a little while it makes sense. Obviously if you’ve got less than $5000 to save then this account is not for you as you will not earn any interest except the bonus interest rate which will expire anyways.

For more info I suggest you jump on over to the TD Canada Trust website at:

http://www.tdcanadatrust.com/accounts/gia.jsp

*note: I am in no way affiliated or associated with TD Canada Trust*

Cheers,

Alan
http://alansmoneyblog.com

Canada Introduces Tax-Free Savings Account

 canadian-flag.gif

The Canadian Federal Government agrees that it’s important for all Canadians to save. And better still, they’ve just passed legislation to let you save without paying tax on the interest you earn. This means that soon all Canadians will be able to save up to $5,000 every year without being taxed on interest earned. This is great news for us savers!

Starting in 2009, Canadians aged 18 and older can contribute up to $5,000 annually (from their taxable income) to a TFSA (tax free savings account). The investment income, including capital gains, earned in a TFSA will not be taxed – even when withdrawn. The plan also allows an investor to withdraw funds from the TFSA at any time and for any purpose. The withdrawal amount can then be put back at a later date without reducing contribution room. Additionally, if an investor puts less than $5,000 into a TFSA in a given year, the unused room can be carried forward to future years.

Tax-Free Savings Accounts should be available at most major Canadian financial institutions once 2009 comes around. Stay tuned to this blog as I will be doing some research and will let you know which financial institutions offer high interest rate tax-free savings accounts.

See, another reason why Canada rocks!

Canadian High Interest Savings Accounts

Loonie

For those of you who are Canucks like moi, you may be interested in knowing which banks offer high interest savings accounts.

Here is the list:

Interest rates as of July-August 2007:

ICICI 4.50%
E*Trade 4.15%
Achieva 4.10%
Outlook 4.10%
Altamira 4.00%
Manulife 4.00%
President’s Choice Interest Plus 4.00%*
Canadian Tire 3.8%
Royal Bank 3.75%
Citizens Ultimate 3.55%
HSBC 3.50%
ING Direct 3.50%
Scotiabank 3.25%
President’s Choice Interest First 3.05%
BMO 2.60%
Citizens Investment 2.40%
Amex 2.40%

Attention savers: Achieva Financial has increased their interest rate

Good day my fellow Canadians. Yes, sorry, this post is targeted to Canadian citizens who are interested in high-interest savings accounts. I just learned that Achieva Financial (one of the banks that I reviewed here) has increased the interest rate on their savings account to 4.35% (per annum).

However Achieva still does not have the highest interest rate of any Canadian bank. For that you’re going to have to look to ICICI Bank Canada who offers a rate of 4.50%. If you are interested in opening up an account with ICICI Bank Canada and you want to get $20 free then e-mail and I’ll send you a special invitation.

That’s all for now. Take care everyone, and thanks for taking the time to read my blog.

Highest interest rate savings account available in Canada

I bring good news to all you Canadian savers. ICICI Bank Canada has just increased the interest rate on their CAD Savings Account to 4.50% ! This is the highest interest rate savings account available in Canada. Their USD savings rate is not so bad either – 5.0%!

It might interest you to know that this savings account has no minimum requirement and no fees are charged. Also you can link up to 3 external bank accounts to your ICICI savings account. Along with these benifts you can rest assured that your money is safe as ICICI Bank Canada is fully insured by the CDIC (Canadian Deposit Insurance Corporation).

Now for something that is even better. I can provide 25 lucky people with a personal invitation to open a savings account and ICICI will give you $20 FREE. The only requirement is that you open your account with an initial deposit of $100 or more (CAD or USD, it doesn’t matter).

To receive your FREE $20 bonus for opening and account, I’m going to ask you to provide me with the following info:

Title (Mr,Miss,etc)
First & Last Name
E-Mail Address
Phone Number

you can e-mail me this info at allinvain6 at gmail.com and I’ll make sure an ICICI Bank Canada representative calls you to provide you with instructions on how to open up an account.

It’s that easy! I look forward to hearing from you!

P.S As I said, only 25 of you will be able to get the $20 bonus so act now.

ING Direct Canada summer savings special: Earn 4.25% on your Investment Savings Account

Hello folks. This post is mainly addressed to my fellow Canadians. I though I’d let all you fellow Canadian savers out there know that from June 1st to August 31st, 2007 you’ll earn 4.25% on any new deposits you make into an Investment Savings Account.

There are no fees, no service charges, no minimum balance, and your money is never locked in (it is your money, after all).

Until August 31, 2007, all new money deposited into your Canadian dollar Investment Savings Account that exceed your May 31, 2007 balance will earn 4.25%. Rate does not apply to transfers from other ING DIRECT accounts including GICs. Money that you may already have in an ING DIRECT Investment Savings Account will continue to earn the high rate of 3.50% *.

Offer applies to the following products:

  • ING DIRECT Investment Savings Account
  • ING DIRECT RSP Investment Savings Account
  • ING DIRECT Business Investment Savings Account

To open up an Investment Savings Account or for more details visit:

http://www.ingdirect.ca

If you also want to get a $13 bonus when you sign up use my promotion code:

14552363S1

To get this money you have to put the above promotion code in the “Promotion Code” box when you sign up.