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Email this12:10 pm
daily balance annual rate (%)
$0 - $1,000.00 0.50
$1,000.01 and up 0.75
3:14 pm
December 12, 2008
Offline
Yup, was just coming to post this.
djino
6:55 am
Yup, the Canadian economy is getting much better and has successfully detached itself from the US economy. (right..!)
0.75%, is that's "Interest Plus" then the "Plus" is a minus.
Mike
7:43 pm
PC Financial TFSA rate is 0.75%
When the rate was at 1.2% I emailed the company and received a response that their rates were competitive. I indicated that Achieva Financial,Outlook Financial, and Canadian Direct Financial all have rates well above PC Financial. Now PC Financial has lowered their rate to 0.75%, I have moved my wife's account and my account to Canadian Direct Financial at 2%. There was no charge as I moved the money to my PC
chequing account. A direct transfer would cost $50.00. This money is now out of a tax free account and I have to wait to January 2010 to open a new account elsewhere.
Shame on PC Financial for offering an initial high rate of interest and then in a few months moving their rate to the lowest. They have lost my business for as long as I live.
9:30 pm
Speaking with a service representative on the phone... President's Choice Financial attributes the drop in their interest rates to the general decline in the economy. They cannot say when, if ever, their rates will rise back up again. 0.75% interest it is..........
9:44 am
With a sub-1% savings rate, does PCF even deserve to remain on the comparison chart?
I think losing their position on the chart will prompt a quick spike in their rate 🙂
2:32 pm
May 15, 2007
Offline
Keeping them on the chart does show how far PC Financial has fallen...
6:20 pm
nelboski said:
With a sub-1% savings rate, does PCF even deserve to remain on the comparison chart?
I think losing their position on the chart will prompt a quick spike in their rate
Well, it's been 3 more months now and I've seen NO spike in their rate. Don't understand why they pay the lowest. What a disappointment.
7:29 am
It's anyone's guess why PCF has tanked, but PCF is owned by CIBC which had to write off big losses due to their exposure to bad American mortgage debt. CIBC was the only bank to post a loss during the most recent round of earnings results.
12:38 pm
Scone is speaking rubberish.
Do Your Homework!! All big 5 banks reported an income last quarter
"Toronto, ON -- August 26, 2009 -- CIBC (CM: TSX; NYSE) announced net income of $434 million for the third quarter ended July 31, 2009, compared with net income of $71 million for the same period last year."
Their income this quarter is 6 times higher than it was a year ago.
Any economics student or anyone who has any post secondary student can tell you that if PCF can borrow money from the Bank of Canada at 0.25% why would they care about giving you 2 or 3% interest that you want. People need to stop whining about interest rates. If you want more return for your investment you need to take on more risk.
Please write your comments in the forum.