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Brokerage investment savings accounts
February 15, 2023
1:17 pm
anita555
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How many companies does BMO have that offer ISA's. Can someone list them.
Or is BMT104 the only ISA that BMO has.
If you are concerned about CDIC coverage, how many BMO entities are there that offer ISA's

February 15, 2023
1:32 pm
AltaRed
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Three each of CAD (BMT104/BMT109/BMT114) and USD series, from BMO, BMMC, BM Trustco respectively. I have no issue with being way over CDIC limits with any of the big 5 banks and only invest in 1 of the offerings.

February 15, 2023
4:17 pm
kesa
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thanks for your comments. not sure what the advantage is with an ISA (bank credit) that pays ~10-20 bps less than 1mo goc bills?

February 15, 2023
5:17 pm
Norman1
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The advantage is that the 4.35% per annum from the BMO ISA's is real. The 4.5% from 30-day Government of Canada treasury bills is not after one adds in the commissions.

February 16, 2023
5:59 am
hwyc
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Renaissance High Interest Savings Account

4.05% - CAD
4.15% - USD

... Series F rate not explicitly disclosed on website

February 16, 2023
7:46 pm
Norman1
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anita555 said
How many companies does BMO have that offer ISA's. Can someone list them.

The CDIC issuers and FundServ codes are listed in these two documents:

BMO HISA Terms & Conditions
BMO USD HISA Terms & Conditions

February 17, 2023
10:58 am
Norman1
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hwyc said
Renaissance High Interest Savings Account

4.05% - CAD
4.15% - USD

... Series F rate not explicitly disclosed on website

Series F yield is 0.15% plus the Series A yield, according to the product features:

Series F: No trailer paid; the interest rate on Series F is the interest rate of Series A plus 0.15% for the Renaissance High Interest Savings Account denominated in Canadian dollars and plus 0.15% for the Renaissance High Interest Savings Account denominated in U.S. dollars.

February 25, 2023
8:03 am
Norman1
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Since last update, B2B Bank and Renaissance increased their rates:

ISA Rate
BMO High Interest Savings Account (BMT104) CAD 4.35%
Scotiabank Investment Savings Account, Series A (DYN6000) CAD
Manulife Bank Investment Savings Account (MIP510) CAD 4.25%
Equitable High Interest Savings Account, Series A (EQB1000) CAD 4.20%
Home Trust High Interest Savings Account, Class A (HOM100)
NBI Altamira CashPerformer Account, Series A (NBC100) CAD 4.05%
RBC Investment Savings Account, Series A (RBF2010) CAD
Renaissance High Interest Savings Account, Series A (ATL5000) CAD
TD Investment Savings Account, Series A (TDB8150) CAD
B2B Bank HIIA, Series A (BTB100) CAD 3.85%
February 25, 2023
7:58 pm
Greedy Guy
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Some TD MMFs (without CDIC coverage) have higher rates than ISAs. TDB2914 rate was 4.63% on Feb24 ($100K minimum):

https://www.td.com/ca/en/asset-management/funds/solutions/mutual-funds/FundCard/TD%20Premium%20Money%20Market%20Fund%20-%20D/?fundId=7216

TDB2913 ($100 minimum) rate was 4.58% rate on Feb24.

February 25, 2023
8:05 pm
Greedy Guy
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Some TD MMFs (without CDIC coverage) have higher rates than ISAs. TDB2914 rate was 4.63% on Feb24 ($100K minimum):

https://www.td.com/ca/en/asset-management/funds/solutions/mutual-funds/FundCard/TD%20Premium%20Money%20Market%20Fund%20-%20D/?fundId=7216

TDB2913 ($100 minimum) rate was 4.58% on Feb24.

February 26, 2023
5:02 am
savemoresaveoften
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Greedy Guy said
Some TD MMFs (without CDIC coverage) have higher rates than ISAs. TDB2914 rate was 4.63% on Feb24 ($100K minimum):

https://www.td.com/ca/en/asset-management/funds/solutions/mutual-funds/FundCard/TD%20Premium%20Money%20Market%20Fund%20-%20D/?fundId=7216

TDB2913 ($100 minimum) rate was 4.58% on Feb24.  

All MM should have higher rate compared to ISA.

February 26, 2023
8:15 am
canada888
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savemoresaveoften said
All MM should have higher rate compared to ISA.  

Not that great, 4.63% - 0.24% MER = 4.39%

only 0.04% better than DYN6000

February 26, 2023
8:16 am
canada888
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Greedy Guy said
Some TD MMFs (without CDIC coverage) have higher rates than ISAs. TDB2914 rate was 4.63% on Feb24 ($100K minimum):

https://www.td.com/ca/en/asset-management/funds/solutions/mutual-funds/FundCard/TD%20Premium%20Money%20Market%20Fund%20-%20D/?fundId=7216

TDB2913 ($100 minimum) rate was 4.58% on Feb24.  

Not that great, 4.63% - 0.24% MER = 4.39%

only 0.04% better than DYN6000

February 26, 2023
5:04 pm
Greedy Guy
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canada888 said

Not that great, 4.63% - 0.24% MER = 4.39%

only 0.04% better than DYN6000  

The Feb 24 rate of 4.63% rate is net of all expenses.

January 2023 month performance of 0.37% compounded for 12 months results in 4.5%. Short term interest rates are rising. Repeating the effort for February 2023 data will result in ~4.6%

February 26, 2023
5:04 pm
Greedy Guy
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canada888 said

Not that great, 4.63% - 0.24% MER = 4.39%

only 0.04% better than DYN6000  

The Feb 24 rate of 4.63% rate is net of all expenses.

January 2023 month performance of 0.37% compounded for 12 months results in 4.5%. Short term interest rates are rising. Repeating the effort for February 2023 data will result in ~4.6%

March 6, 2023
11:57 pm
realtalk
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Norman1, love these tables. Any chance we could convince you to do Series F ones as well, or add them? I'm finding them a great place to temporarily park money in my registered accounts at Qtrade.

Norman1 said
Since last update, B2B Bank and Renaissance increased their rates:

ISA Rate
BMO High Interest Savings Account (BMT104) CAD 4.35%
Scotiabank Investment Savings Account, Series A (DYN6000) CAD
Manulife Bank Investment Savings Account (MIP510) CAD 4.25%
Equitable High Interest Savings Account, Series A (EQB1000) CAD 4.20%
Home Trust High Interest Savings Account, Class A (HOM100)
NBI Altamira CashPerformer Account, Series A (NBC100) CAD 4.05%
RBC Investment Savings Account, Series A (RBF2010) CAD
Renaissance High Interest Savings Account, Series A (ATL5000) CAD
TD Investment Savings Account, Series A (TDB8150) CAD
B2B Bank HIIA, Series A (BTB100) CAD 3.85%

  

March 7, 2023
2:48 am
NorthernRaven
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As a playground for some programming tools, I've got some code that retrieves and stores ISA rates from the various websites (unfortunately, BMO rates don't seem to be available except to logged-in InvestorLine customers). I might set it up to run automatically and create a webpage at some point; if I do, I'll post a link here.

March 7, 2023
5:04 am
savemoresaveoften
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realtalk said
Norman1, love these tables. Any chance we could convince you to do Series F ones as well, or add them? I'm finding them a great place to temporarily park money in my registered accounts at Qtrade.

  

To get the yield for the F, just take the rates on Norman’s table for the A series and add 15bps, we don’t need another column nor table for that.

March 7, 2023
5:39 am
NorthernRaven
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savemoresaveoften said

To get the yield for the F, just take the rates on Norman’s table for the A series and add 15bps, we don’t need another column nor table for that.  

The A-series commission can vary from company to company; some are 15bps, others not (RBC and NBC are 25bps, for example).

March 7, 2023
5:46 am
savemoresaveoften
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NorthernRaven said

The A-series commission can vary from company to company; some are 15bps, others not (RBC and NBC are 25bps, for example).  

ok. I will rephrase, add 15-25bps. A max 10bps diff (talking about $100 on $100k for a full 12 months) is trivial plus most can not access the F series unless you are their direct customer in most cases anyway.

Please write your comments in the forum.