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Discussion forum Tax Free Savings Accounts TFSA highest interest?

TFSA highest interest?  
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9:57 am
January 23, 2009


Rea

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I was considering investing in a tax free savings account… which bank is offering the highest interest at the moment? What would you guys recommend?

7:42 pm
January 23, 2009


Roc

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Rea,

The best TFSA rate is currently at State Bank of India offering 3.35% for a 1YR cashable GIC. You can view all the rates at http://www.cannex.com/canada/english and compare which banks/credit unions offer the best rate.

Roc

10:11 pm
January 23, 2009


guest

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That rate is the non-cashable locked in rate. The cashable rate for the TFSA Power Saving Account is only 3.00%. Their service fees are also very high. You can't just pick the highest one. There are many factors to consider.
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