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TD WebBroker ISA (Investment Savings Account).
September 7, 2022
8:12 pm
Dean
Valhalla Mountains, British Columbia
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.
I just noticed in my TD WebBroker Account that ISA TDB8150 (CAD) is now paying 2.85% interest.

Not bad for an ISA ❗

    Dean

sf-cool " Live Long, Healthy ... And Prosper! " sf-cool

September 8, 2022
4:56 am
hwyc
GTA
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Not bad indeed (was 2.25%). Also didn't expect the first rate change in respond to BoC rate change from these funds ... same day sf-smile

https://www.td.com/ca/en/asset-management/additional-solutions/

... ISA entries from a previous thread >> https://www.highinterestsavings.ca/forum/investing/investment-savings-account-isa-interest-rates/#p75341

September 8, 2022
5:16 am
AltaRed
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I tend to look at this site for relatively current numbers https://mrthrifty.ca/investment-savings-accounts-maximize-interest-in-your-brokerage-account/ I think it updates weekly.

September 8, 2022
5:28 am
Bill
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Great info, AltaRed, thanks.

September 8, 2022
8:25 am
cgouimet
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I've never done any of these ISA's. Is there a link to understand the ins and outs and Series-A vs Series-F?

Thank you ...

CGO
September 8, 2022
8:47 am
cgouimet
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cgouimet said
I've never done any of these ISA's. Is there a link to understand the ins and outs and Series-A vs Series-F?

Thank you ...  

I'll expand my question ...

TDB8150 @ 2.85% (A-Series?)
TDB8151 @ 3.00% (F-Series)

Other than the rate, what's the difference? And what's the difference vs a Bank/CU HISA?

Thank you ...

CGO
September 8, 2022
10:10 am
Dean
Valhalla Mountains, British Columbia
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.
FYI . . .

The TD WebBroker's F-Series ISAs (TDB8151 / TDB8156 / TDB8158 / TDB8160 / TDB8153) are for Fee-Based accounts.

For more details, scroll down this page to 'Fee-Based Accounts':
https://www.td.com/ca/en/asset-management/how-to/mutual-fund-fees/

Hope that helps,

    Dean

sf-cool " Live Long, Healthy ... And Prosper! " sf-cool

September 8, 2022
10:24 am
cgouimet
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Dean said
.
FYI . . .

The TD WebBroker's F-Series ISAs (TDB8151 / TDB8156 / TDB8158 / TDB8160 / TDB8153) are for Fee-Based accounts.

For more details, scroll down this page to 'Fee-Based Accounts':
https://www.td.com/ca/en/asset-management/how-to/mutual-fund-fees/

Hope that helps,

    Dean

  

Thanks Dean. So, TDB8150 would be without fees?

CGO
September 8, 2022
11:01 am
Dean
Valhalla Mountains, British Columbia
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cgouimet said

Thanks Dean. So, TDB8150 would be without fees?  

Yes, TDB8150 is 'Feeless' (i.e. No charges & No trading commissions). And it's CDIC Insured. sf-smile

Brochure ➡ https://www.td.com/ca/en/asset-management/documents/investor/pdf/TD%20ISA%20Product%20Features.pdf

Terms & Conditions ➡ https://www.td.com/ca/en/asset-management/documents/investor/pdf/TD-ISA-Terms-and-Conditions-EN.pdf

I've been using it for a little over two years now.

    Dean

sf-cool " Live Long, Healthy ... And Prosper! " sf-cool

September 8, 2022
11:38 am
AltaRed
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There brokerage ISAs are simply bank savings accounts traded (bought/sold) using the mutual fund platform. They are not, however, mutual funds. They are CDIC insured deposit accounts. They have been around for a long time in various forms.

September 8, 2022
12:38 pm
Jowett
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Another possible option for a high rate savings account is CI Financial. They just advised me that their savings account has been increased from 2.75% to 3.5%.

The good...
No fees on the savings account (as distinct from their funds etc)
No minimum, no maximum.
Change in rates is in line with Bank of Canada increases and decreases.

The not so good.
No registered savings accounts
No joint accounts.

Insured under CIPF not CIDC

I have only invested in one of their funds until now , however their savings account seems to be one of the better offerings out there.

Go to the CI Direct website for more info

September 8, 2022
12:50 pm
Dean
Valhalla Mountains, British Columbia
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AltaRed said

. . . They have been around for a long time in various forms.  

In spite of that , many brokerage investors don't even know they exist ... especially the DIYers. Up until about two years ago, that was my case too. Back in 2020 I found out about ISAs from the Good Folks here on these forums.

    Dean

sf-cool " Live Long, Healthy ... And Prosper! " sf-cool

September 8, 2022
1:26 pm
JenE
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Excuse my ignorance and please tell me why it’s a good idea to have a brokerage ISA account.

September 8, 2022
1:26 pm
Bill
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I've been using TD's for decades, whenever I've had temporarily un-invested cash in my investment accounts there, but typically the rates are not compelling.

JenE, I wouldn't open an account with a broker if that's your only plan for the money, not unless you've got millions that you want to spread around to keep under CDIC limits.

September 8, 2022
1:52 pm
Dean
Valhalla Mountains, British Columbia
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JenE said

Excuse my ignorance and please tell me why it’s a good idea to have a brokerage ISA account.  

I find ISAs especially useful inside Registered investment accounts (RRSPs / TFSAs / etc.). Money in the account not presently invested can earn interest in an ISA, rather than sitting idol as Cash, earning nothing at all.

In non-registered investment accounts, money can be moved in & out at will. So ISAs may not be as useful there.

My Two Nickels sf-smile

    Dean

sf-cool " Live Long, Healthy ... And Prosper! " sf-cool

September 13, 2022
12:52 pm
AltaRed
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More brokerage ISAs have raised their rates. BTB100 (Laurentian Bank) now at 2.75% and Scotia today increased their DYN series to 2.9%.

I suspect https://mrthrifty.ca/investment-savings-accounts-maximize-interest-in-your-brokerage-account/ website listing will catch up in due course.

Lastly, we should expect the USD versions to also move up after the next Fed increase on Sept 20-21.

September 13, 2022
1:22 pm
amidat
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Actually, Scotia A DYN series is 2.9%
The F Series (DYN6004, etc.) is 3.05%

September 13, 2022
1:31 pm
AltaRed
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amidat said
Actually, Scotia A DYN series is 2.9%
The F Series (DYN6004, etc.) is 3.05%  

The F series don't count for DIY accounts. The F series can generally only be purchased through a 'fee for service' advisor.

September 13, 2022
1:39 pm
amidat
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Well I don't know about all accounts. But a DIY who has a Scotia iTrade account can purchase DYN6004 without paying a fee.
So I think this information may be useful to other members.
In the past I've purchased the A series not knowing that you can purchase the F series.

September 13, 2022
2:18 pm
AltaRed
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Really? That was not the case a few years back when I tried. Maybe that changed with OSC direction to eliminate commissions on mutual funds in DIY discount brokerage accounts effective June 1 this year?

I will give it a test try with $1000.

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