Canadian High Interest Savings Bank Accounts

A few months back, I looked specifically at "No Annual Fee" Credit Cards in Canada. The Starwood Preferred Guest (SPG) MasterCard from MBNA easily has the best potential return among that class. There is a ton of information about this card readily accessible out there. There may be better deals with other types of cards (i.e. cards with an annual fee), but determining the value of the return gets quite a bit more complicated as there are more variables that come into play.

As for bank accounts…PC was the clear option last October when I was looking at accounts (among the highest savings rates in the country, essentially free banking, and their link with CIBC provided easy access to ATM's for withdrawal and deposits).

Of course, I easily linked the SPG card to my PC account to make monthly payments.

While the SPG card has provided nice returns…the PC account continues to disappoint (especially with their disturbingly low 1.2% savings rate). I need to move my savings somewhere more productive, while still having full access to the funds (as the money will likely be used for a down payments on a house at some point in the near future)…any suggestions?

Here is a decent summary of No Annual Fee cards out there: http://www.redflagdeals.com/deals/main.php/articles/credit1/