A summary of the latest news and discussions on highinterestsavings.ca. See also the promotions page.
July 2017
June 2017
May 2017
April 2017
- Alterna Bank decreases its savings account and TFSA interest rates from 1.95% to 1.90%
- Oaken Financial increases savings account interest rate from 1.50% to 1.75%
- EQ Bank adds instant EQ-to-EQ transfers
March 2017
February 2017
- Canadian Direct Financial announces rebrand to Motive Financial, starting April 18, 2017
- Hubert Financial launches mobile app: current features include renaming accounts and setting up recurring transfers
January 2017
December 2016
- Tangerine drops its chequing account base interest rate from 0.25% to 0.15%
- Oaken Financial decreases its savings account interest rate from 1.75% to 1.50%
November 2016
- New online bank Ideal Savings with a 2.50% savings account interest rate guaranteed through the end of 2017 (since changed to 2.30% on the initial deposit and 1.70% on subsequent deposits)
- EQ Bank now supports direct deposits and pre-authorized debits
August 2016
July 2016
May 2016
April 2016
- Alterna Bank increases its regular savings account rate from 1.85% to 1.95%
- EQ Bank decreases its regular savings account rate from 3.00% to 2.25%
March 2016
- MAXA Financial decreases its regular savings account and TFSA rate from 1.75% to 1.70%
- Implicity Financial decreases its regular savings account and TFSA rate from 1.75% to 1.70%
- AcceleRate Financial decreases its regular savings account and TFSA rate from 1.75% to 1.70%
- Tangerine MasterCard is now open to the public, including people who don’t have a Tangerine bank account
- Hubert Financial decreases its regular savings account and TFSA rate from 1.75% to 1.70%
February 2016
- Canadian Tire drops its savings account interest rate from 1.50% to 1.30%; its first drop since Feb 2013. TFSA remains at 1.60%.
- Peoples Trust drops its regular TFSA interest rate from 2.0% to 1.75%. Savings account remains at 1.45%.
January 2016
- Implicity Financial now offers RRSPs and RRIFs
- Bridgewater Bank decreases its Smart eSavings Account interest rate from 1.85% to 1.75%
- AcceleRate Financial decrease its savings account and TFSA interest rate from 1.80% to 1.75%
- Implicity Financial adds a cheque deposit feature to its mobile app
- EQ Bank launches with a 3% savings account
December 2015
- TFSA contribution limit for 2016 will be $5,500, down from $10,000
- Long-running Canadian Direct Financial 0.25% GIC bonus for Canadian Direct Insurance customers ending April 2016
- Canadian Direct Financial now gives interest (currently 0.6%) on its chequing account
- Hubert Financial lowers regular savings and TFSA interest rate from 1.80% to 1.75%
November 2015
October 2015
- Canadian Direct Financial increases its TFSA interest rate from 1.60% to 1.80%
- Tangerine launches cash back credit card
September 2015
- Rogers Platinum MasterCard waives foreign currency transaction fees
- Outlook Financial now supports Me2Me transfers aka external electronic funds transfers
August 2015
July 2015
- Canadian Direct Financial drops savings account interest rate to 1.50% (from 1.75%); TFSA down to 1.60% (from 1.75%)
- Outlook Financial drops regular savings and TFSA interest rates from 1.85% to 1.70%
- Peoples Trust drops regular savings (from 1.60% to 1.45%) and TFSA interest rate (from 2.25% to 2.00%)
- AcceleRate Financial drops regular savings and TFSA interest rates from 1.95% to 1.80%
- Implicity Financial drops regular savings and TFSA interest rates from 1.85% to 1.75%
- Tangerine Bank drops regular savings and TFSA interest rates from 1.05% to 0.80%
- PC Financial drops regular savings and TFSA interest rates from 1.05% to 0.80%
- MAXA Financial drops regular savings and TFSA interest rates from 1.85% to 1.75%
- Hubert Financial drops regular savings and TFSA interest rates from 1.90% to 1.80%
May 2015
- New bank: Zag Bank, with a slew of promotional offers and promotional interest rate
- Peoples Trust savings account and TFSA interest rates down to 1.60% (from 1.80%) and 2.25% (from 2.50%)
April 2015
- Hubert Financial decreases its TFSA and regular savings interest rate from 1.95% to 1.90%
- Annual TFSA limit officially increased to $10,000, effective back to January 1, 2015
March 2015
February 2015
- Achieva Financial decreases its TFSA and regular savings interest rate from 2.00% to 1.85%
- ICICI Bank decreases its TFSA and regular savings interest rate to 1.35% (from 1.80% and 1.45%)
- Implicity Financial decreases its TFSA and regular savings interest rate from 2.00% to 1.85%
- Outlook Financial decreases its TFSA and regular savings interest rate from 2.00% to 1.85%
- Tangerine Bank drops its TFSA and regular savings interest rate from 1.30% to 1.05%
- PC Financial drops its TFSA and regular savings interest rate from 1.30% to 1.05%
- MAXA Financial drops its TFSA and regular savings interest rate from 2.00% to 1.85%
January 2015
- AcceleRate Financial decreases its TFSA and regular savings interest rate from 2.10% to 1.95%
- Hubert Financial now offers RRSPs and RRIFs through savings accounts and GICs
- Peoples Trust drops its regular TFSA interest rate from 3.00% to 2.50%
December 2014
- Hubert Financial to offer RRSPs/RRIFs and the electronic transfer of US funds between Canadian accounts in 2015
- Implicity Financial increases TFSA and regular savings account interest rate from 1.90% to 2.00%
- Outlook Financial increases TFSA and regular savings account interest rate from 1.80% to 2.00%
- AcceleRate Financial increases TFSA and regular savings account interest rate from 2.00% to 2.10%
November 2014
- MAXA Financial increases TFSA and regular savings account interest rate from 1.80% to 2.00%
- Achieva Financial increases interest rates, including 2.00% TFSA and regular savings accounts (from 1.80%)
- AcceleRate Financial increases TFSA and regular savings account interest rate from 1.95% to 2.00%
October 2014
- Tangerine to start charging a $45 transfer out fee for TFSA and RRSP accounts on January 1, 2015
- Capital One MasterCard replaced Amex card for Costco members
September 2014
- Canadian Direct Financial lowers its TFSA interest rate from 2.25% to 2.00%
July 2014
- PC Financial net new deposit savings account promotion is back until October 31: 2% interest rate
- AcceleRate Financial increases its TFSA and savings account interest rates from 1.90% to 1.95%
- CIBC and RBC savings account net new deposit promotions (2% interest) until September 30, 2014
- Implicity Financial now supports electronic transfers to and from external accounts
June 2014
- Hubert Financial increases its TFSA and savings account interest rates from 1.80% to 1.95%.
- Oaken Financial increases its savings account interest rate from 1.65% to 1.75%
May 2014
- Scotiabank to acquire 20% stake in Canadian Tire Financial Services
- BMO drops its no-fee chequing account through “BMO Sobeys”
April 2014
- Tangerine savings account promotion: 2.5% on all NEW deposits between April 8 and July 31, 2014
- PC Financial drops its savings account and TFSA interest rates to 1.30%
- Canadian Tire Financial drops its regular TFSA interest rate from 1.90% to 1.60%
March 2014
- ING Direct drops its savings account and TFSA interest rates to 1.30%
- PC Financial savings account promotion: 2.5% on all NEW deposits between now and June 30
December 2013
November 2013
- Peoples Trust online application information compromised: email addresses, social insurance numbers, dates of birth, and more
- PC Financial special 2.25% interest rate on savings account new deposits between November 1, 2013 and January 31, 2014
October 2013
- AcceleRate Financial savings account and TFSA interest rates up to 1.90% from 1.80%
- Peoples Trust drops its savings account interest rate from 1.90% to 1.80%
September 2013
August 2013
July 15 to 21, 2013
- Bank of Canada key interest rate holds steady at 1% again; no increases anticipated in the short term
- Canadian Direct Financial publicly notes its free chequing account without a required minimum balance
June 30 to July 14, 2013
June 23 to 29, 2013
June 9 to 22, 2013
May 19 to June 8, 2013
May 12 to 18, 2013
May 5 to 11, 2013
April 21 to May 4, 2013
April 7 to 20, 2013
- PC Financial promotional 2.60% interest rate on new deposits from April 15 through July 15, 2013
- Hubert Financial TFSA and regular savings interest rate up to 1.90% from 1.80%
March 31 to April 6, 2013
- Manulife Bank TFSA rate down from 2.00% to 1.55%
- ING Direct promotional 2.50% savings account interest rate for new deposits made between April 1 and June 30, 2013
March 24 to 30, 2013
- Hubert Financial regular savings and TFSA rates down from 2.00% to 1.80%
- Canadian Tire Financial TFSA rate down from 2.00% to 1.90%
March 17 to 23, 2013
March 10 to 16, 2013
March 3 to 9, 2013
- MAXA Financial TFSA and regular savings rate down from 2.00% to 1.75%
- AcceleRate Financial drops its regular savings and TFSA interest rates from 2.00% to 1.80%
- Outlook Financial savings account and TFSA interest rate down from 2.00% to 1.80%
February 24 to March 2, 2013
- Hubert Financial TFSA and regular savings rate up from 1.85% to 2.00%
- Summary of PC Financial changes, affecting bonus interest, tiered interest, hold times, PC points
- Achieva Financial savings account and TFSA interest rate down from 2.00% to 1.80%
February 17 to 23, 2013
- PC Financial discontinuing bonus interest on account anniversaries
- 2% promotional interest rate on new deposits in PC Financial savings accounts until March 31, 2013
- All Ally Financial savings account interest rates are dropped
- Canadian Tire Financial lowers its savings account interest rate from 1.70% to 1.50%
- Direct linking of external accounts in Implicity Financial interface is highly requested, to be implemented mid-2013.
February 3 to 16, 2013
- No new Ally Financial accounts can be opened; existing savings accounts will be closed April 30, 2013
- Free 2013 personal income tax software
January 27 to February 2, 2013
January 6 to 26, 2013
- New financial institution Implicity Financial with 2% savings account rate
- Summary of charges for cash withdrawals while travelling
- BMO TFSA promo until April 30 (2.25%; regular rate 1.15%)
December 30, 2012 to January 5, 2013
- First look at Peoples Trust online banking interface, generally and for TFSAs
- ING Direct promo: 90-day TFSA GIC 2.5%
December 23 to 29, 2012
December 16 to 22, 2012
December 2 to 15, 2012
- First Ontario Credit Union savings account rate down to 1.80%: forum thread
November 25 to December 1, 2012
- TFSA contribution room for 2013 will be $5,500: forum thread
November 17 to 24, 2012
- Entegra credit union savings account rate down to 1.95%: forum thread
- Steinbach credit union savings account rate down to 1.95%: forum thread
November 10 to 16, 2012
- Details on how to sign up for online banking with Peoples Trust: forum thread
- Bank profile pages: rate and discuss each financial institution: forum thread
November 3 to 9, 2012
- ICICI Bank promo: 3.15% for a 5-year TFSA or RRSP GIC: forum thread
- Canadian Direct Financial to decrease its TFSA rate from 2.55% from 3.00% effective November 13: forum thread
- Cash back credit card alternatives to MBNA Smart Cash now that it has dropped its grocery / gas cash back rate to 2%? forum thread
- Peoples Trust to offer online banking: forum thread
Please write your comments in the forum.