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Earn 2.25%* 122 days on your first TFSA savings account
November 13, 2021
5:52 am
hwyc
GTA
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Earn 2.25%* on your first TFSA savings account - link at motusbank

... T&C

November 13, 2021
1:25 pm
Peter
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May 15, 2007
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Thanks for sharing. Their definition of "first TFSA savings account" is "a Member who does not currently hold and has not previously held a TFSA High Interest Savings Account within the six (6) months immediately prior to the start date of the Offer Period".

I also noticed that part of their marketing message is this: "If you've never contributed to a TFSA before you can deposit a total of $75,500." -- perhaps they should say "up to $75,500" since that full amount is only for those turning 30 or over this year.

Lastly, since the 122-day promo period ends early into a new year, be aware that motusbank has a $50 transfer out fee for a TFSA (and RRSP). motusbank's normal TFSA interest rate is 1.25%, which is actually pretty good as that puts it tied for second place on our comparison chart.

November 13, 2021
2:18 pm
smayer97
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Thanks for doing the leg work and sharing. Just saved me and my family members a ton of time (since we already hold TFSA's).

November 13, 2021
5:54 pm
Loonie
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October 21, 2013
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Peter said
.

I also noticed that part of their marketing message is this: "If you've never contributed to a TFSA before you can deposit a total of $75,500." -- perhaps they should say "up to $75,500" since that full amount is only for those turning 30 or over this year.

  

In addition,you have to have been in Canada all those years. Recent immigrants will have to deduct.

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