Canadian High Interest Savings Bank Accounts

They are not even relevant anymore and, has been described before, need to resort to marketing gimmickry to build deposits and attract market share. I would never consider opening an account with them, not when there is Ally or Manitoba credit unions that offer far superior service and better rates.

Cheers,
Doug

I know some better ways to save money.

a) Dig a hole in your backyard and stash your cash there (wrap in plastic or some other impervious material first).

b) Never, ever be a debt slave.

Remember, saving money is bad for the con o' money — I mean, economy.

AF is paying 2.2% I have my money with them now, they are very good
I like them alot, anything less then 2% is like putting your money to sleep

I'm with Doug on this. I pulled everything out except for a GIC last year. They just aren't competitive enough anymore, compared to Ally or the Manitoba CUs.

It seems unlikely, given Ally's recently lowered their five-year rate to 3%. CTFS has just been woefully behind everyone else so they're playing catch-up. There's an abundance of cash on the sidelines and big banks can raise money cheaper than going to depositors by offering better rates. The big banks can borrow directly from the Bank of Canada at 1% interest rates whereas credit unions can't and have lines of credit from the big banks so it becomes more advantageous of them to go to depositors.

Cheers,
Doug