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Rate is now 4.00%
January 21, 2008
11:04 pm
Peter
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Forum Posts: 1281
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May 15, 2007
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Is this a general downward trend?

January 22, 2008
9:44 am
Maxime
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Guests

I'm in the process of finding a higher Interest rate savings account online that ING Direct. I was really interested by PC financial which I heard was giving good bang for the buck with their higher interest rate than ING and had their annual birthday programm on the PLUS account. However, they only deserve PC's finanacial mastercard to Quebec and PLUS account is not available here. They do not have a welcoming pormotion programm and more of that they just lowered their interest rate.

I guess it will be ICICI bank for me even if many people have complains about their customer service. However I'm not the one who will call the most, I do my transactions online and avoid calling for any information.

However there is only 1 little hick with ICICI: "*This offer is open to new ICICI Bank Canada customers who are residents of Canada above 19 years of age who open a Canadian Dollar HiSAVE Savings Account with a minimum initial deposit of $100.00. Limit one C$20 gift deposit per new account (including joint accounts) and one account per new customer. Offer is not available to residents of Manitoba, Quebec, and Nova Scotia. Application criteria apply. Offer may be modified or cancelled at any time. May not be combined with other offers."

The 20$ gift bonus for opening a new account or the possibly of sending ivitations to friend to get a 20$ referral bonus?

I better know thie rpolicy before getting surprised after i've openend an account with them.

Max

January 22, 2008
12:27 pm
Peter
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Forum Posts: 1281
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I've been with Citizens Bank for a while and I'm always saying that it's my favourite bank. Part of it has to do with the fact that it's owned by Vancity, which is local for me. But Citizens Bank is still work a look. It gives me the most features for the least amount of hassle so far.

January 22, 2008
4:37 pm
Chris
Guest
Guests

I had a PCF Interest Plus savings account and no-fee chequing account. They make a great combo. However, the only hiccup was that you don't get instant transfers from savings to chequing (you have to plan the transfer one day before you want the money).

I second Peter with Citizens Bank. You can combine their free Investment Chequing account (2.4%) with their Ultimate Savings Account (4.1%). Plus, you get instant transfers between your accounts.

They are also dedicated to social responsibilty through their Shared Interest products.

January 24, 2008
10:52 pm
jc
Guest
Guests

PCF Interest Plus is down to 3.85% now. Expecting more rate changes from other banks.

January 24, 2008
11:19 pm
Peter
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Forum Posts: 1281
Member Since:
May 15, 2007
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Wow, not to state the obvious or anything, but this is quite the fast drop in rates for PCF! Also, Manulife is down from 3.80% to 3.55% and HSBC Direct is down from 4.00% to 3.75%.

January 25, 2008
9:33 am
Craig
Guest
Guests

PC Financial still offers a 4.1% rate on their RRSP high-interest savings account. They are actively flogging it on their website. It makes sense from their perspective because it's much more difficult (and costly) for you to move your RRSP funds out of their bank (which is really CIBC).

You can add RBC to the list of banks decreasing their high-interest savings account rates. When I checked yesterday, it was down to 3.8% from 4.0%.

January 25, 2008
10:37 am
Craig
Guest
Guests

Update, RBC high-interest savings is now down to 3.5%... and the freefall continues...

January 26, 2008
3:51 pm
Peter
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More drops... ING Direct down 0.10% to 3.65%

January 30, 2008
1:31 pm
Canadian Guy
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Guests

It seems both ING and PC rates have gone down again.
You should update your list.

January 30, 2008
1:35 pm
Peter
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Forum Posts: 1281
Member Since:
May 15, 2007
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From what I can see, ING's Investment Savings Account is still at 3.65% and PC Financial's Interest Plus is still at 3.85% (for balances over $1000).

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