March 30, 2017
There is a new offer on the Advantage Acct that came on Monday. The new rate will be 1% for 120 days but you must leave your money in (no withdrawals) during the 120 day period. For this promo you will get the regular interest monthly (0.15%) and you will get the bonus interest (0.85%) in a lump sum at the end of the 120 day period.
With the drop of Peoples rate today to 1.1%, I guess 1% by Manulife is not out of line since Manulife is a large, stable, major FI compared to Peoples.
Alterna Bank is already @ 1% - perhaps around 1% is where HISA rates appear to be headed. Obviously the small FIs will have to pay more to attract funds.
thats a very weak offer.
September 7, 2018