High Interest Rates for Savings, GICs, MMFs [2012]

Banking and Saving strategies, maximizing interest rates, budgeting, GICs, HISAs.
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gsp_
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Re: High Interest Rates for Savings, GICs, MMFs [2012]

Post by gsp_ »

freedom_2008 wrote:But their GIC rates are still very different between their public page and the "Valued Customers" page (e.g. 5yr GIC 2.4% vs 3.25%). If I remember correctly, you can only get the better rate if you have an account with them already and buy GIC on-line, not via phone.

3/4/5 year GIC rates have now been cut to 2.7/2.85/3.1%. Still the top rates in the country, matching the best CU rates.
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Re: High Interest Rates for Savings, GICs, MMFs [2012]

Post by westinvest »

Shakespeare wrote:BMOIL:

RRSP: http://www.bmo.com/home/personal/banking/rates/rrsp looks like savings account is .25% :roll:

TFSA: Tax free savings account | Bank accounts | BMO Bank of Montreal - 1.15% available

I note that Fund Quote - The Globe and Mail yields .1%.

Added: iShares CMR http://ca.ishares.com/product_info/fund ... ew/CMR.htm may be a possibility but isn't CDIC insured.
If you have BMO bank accounts, you can use a Smart Savings Account to transfer funds in and out of BMOIL. An SSA pays 1.2% for balances over 5K.
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Re: High Interest Rates for Savings, GICs, MMFs [2012]

Post by Shakespeare »

Not a possible alternative for registered accounts, unfortunately.
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Re: High Interest Rates for Savings, GICs, MMFs [2012]

Post by CROCKD »

An update on HISAs at BMOIL.

As I reported upthread there is a $25000.00 minimum.
I make an annual withdrawal from my RRIF.
I bought units for one of the Investment Savings Banks online.
However when I went to sell this morning (as RRIF withdrawal is scheduled for tomorrow, BMOIL's software would not accept the order and said it had to be done manually.
This was not a problem as when I called the 5* desk, they put the order in right away.

I was considering putting available cash in my TFSA ( at TDWH) into TDB8150 but I see they have a $1000 minimum initial investment. At this point I do not have $1000 cash in there.

I want a place to put cash dividends as I get them. Two out of the three securities in my TFSA pay monthly dividends, the other is a mutual fund reinvested.

Does anyone know if you can add small amounts such as $50+ once you have the min. amount in.
What happens if for example you have $1500 in the account and then take $700 to buy a security causing the account balance to fall below $1000?
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Re: High Interest Rates for Savings, GICs, MMFs [2012]

Post by gsp_ »

Additional purchases are $100 min. but you can always sell $100 and immediately buy say $150 if wanting to get around the min.
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Re: High Interest Rates for Savings, GICs, MMFs [2012]

Post by Shakespeare »

1.25% on $100 is $1.25/year....
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Re: High Interest Rates for Savings, GICs, MMFs [2012]

Post by IdOp »

A few weeks ago, as an experiment, I tried to put in an order for the TDISA at Waterhouse, for an amount less than $1000. It appeared the system did not reject the order, but I didn't complete the final step of putting in the trading password. So, while it might not work, it would be worth a try if someone wants to do it.
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Re: High Interest Rates for Savings, GICs, MMFs [2012]

Post by adrian2 »

Shakespeare wrote:1.25% on $100 is $1.25/year....
After half a year, you earn enough for a postage stamp. I may be stingy, but I can really leave a third of a cent on the table, on a daily basis. (If I see a penny on the sidewalk, I don't bother -- anything higher and I bend to pick it up).
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Re: High Interest Rates for Savings, GICs, MMFs [2012]

Post by CROCKD »

IdOp wrote:It appeared the system did not reject the order, but I didn't complete the final step of putting in the trading password.
Just placed an order for just under $600 in my TFSA at TDWH for TDB8150.
The system accepted the order and gave me a reference no.
At this stage the order status is listed as Open. (but as it after 2PM ET may not be filled till tomorrow)
I will report back.
Last edited by CROCKD on 23 Jul 2012 15:01, edited 1 time in total.
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Re: High Interest Rates for Savings, GICs, MMFs [2012]

Post by IdOp »

CROCKD wrote:Just placed an order for just under $600 in my TFSA at TDWH for TDB8150.
The system accepted the order and gave me a reference no.
At this stage the order status is listed as Open. (but as it after 2PM EST may not be filled till tomorrow)
I will report back.
Cool! IIRC their cut-off time is 3pm ET, so hopefully it will trade today for settlement tomorrow. Thanks for the info and an update on the result would be welcome. :)
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Re: High Interest Rates for Savings, GICs, MMFs [2012]

Post by Lazy Ninja »

IdOp wrote:A few weeks ago, as an experiment, I tried to put in an order for the TDISA at Waterhouse, for an amount less than $1000. It appeared the system did not reject the order, but I didn't complete the final step of putting in the trading password. So, while it might not work, it would be worth a try if someone wants to do it.
over a month ago, on page 10 of this thread, Arby wrote:I found one minor advantage for TDB8150 over 3rd party HISA's at TDWH. The minimum purchase for TDB8150 is $100 (versus $1000 which was the former limit for 3rd party HISA's at TDWH). That saves me the trouble of waiting until I accumulate $1K in cash to make a HISA purchase.
Edit to add: I've made $500 buys of TDB8150 in both my RRSP and my un-registered account since then.
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Re: High Interest Rates for Savings, GICs, MMFs [2012]

Post by IdOp »

Thanks Lazy Ninja -- and Arby -- don't know how I missed that post! I guess that removes the suspense over whether it will work or not.
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Re: High Interest Rates for Savings, GICs, MMFs [2012]

Post by CROCKD »

The problem was I followed the link this morning from finiki to TDAM and the page still states the $1000 minimum investment
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Re: High Interest Rates for Savings, GICs, MMFs [2012]

Post by Peculiar_Investor »

CROCKD wrote:The problem was I followed the link this morning from finiki to TDAM and the page still states the $1000 minimum investment
High-Interest Savings Accounts - finiki links to http://www.tdam.com/Content/Products/p_ ... asp?PID=27 which does indeed show
TDAM wrote:Minimum Initial Investment: $1,000
I think TDAM needs to update their website to reflect their true minimum investments. Once again, FWF membership to the rescue to find the real answers :thumbsup: Confirms CROCKD's signature!
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Re: High Interest Rates for Savings, GICs, MMFs [2012]

Post by fundamental »

August 2010 was the last time ING's ISA saw a rate increase to 1.50%

Will August 2012 see a seasonal repeat ?

:?:
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Re: High Interest Rates for Savings, GICs, MMFs [2012]

Post by Bylo Selhi »

fundamental wrote:Will August 2012 see a seasonal repeat ?
Will there be anyone left who's dumb enough to fall for that fall promo?
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Re: High Interest Rates for Savings, GICs, MMFs [2012]

Post by optionable68 »

Bylo Selhi wrote:
fundamental wrote:Will August 2012 see a seasonal repeat ?
Will there be anyone left who's dumb enough to fall for that fall promo?
If they offer high enough rates, I will be "dumb enough" :wink:
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Re: High Interest Rates for Savings, GICs, MMFs [2012]

Post by Bylo Selhi »

optionable68 wrote:If they offer high enough rates, I will be "dumb enough" :wink:
So will I, however, even if it happens, 1.5% << 1.9% (Peoples' Trust) or 1.8% (Ally) with no need to wait until August or try to guess their gimmick :P
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Re: High Interest Rates for Savings, GICs, MMFs [2012]

Post by sunkenradish »

Bylo Selhi wrote:
optionable68 wrote:If they offer high enough rates, I will be "dumb enough" :wink:
So will I, however, even if it happens, 1.5% << 1.9% (Peoples' Trust) or 1.8% (Ally) with no need to wait until August or try to guess their gimmick :P
...or 2% at Canadian Direct Financial:
https://www.canadiandirectfinancial.com/Personal/
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Re: High Interest Rates for Savings, GICs, MMFs [2012]

Post by iluvnascar »

And don't overlook Canadian Tire Financial Services @ 1.80%


https://www.myctfs.com/Products/
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Re: High Interest Rates for Savings, GICs, MMFs [2012]

Post by BRIAN5000 »

Yesterday at TDW 1 year Equitable Trust was 1.92% today its down to 1.6% :roll: :shock:
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Re: High Interest Rates for Savings, GICs, MMFs [2012]

Post by fundamental »

CJOttawa wrote:
Bylo Selhi wrote:
optionable68 wrote:If they offer high enough rates, I will be "dumb enough" :wink:
So will I, however, even if it happens, 1.5% << 1.9% (Peoples' Trust) or 1.8% (Ally) with no need to wait until August or try to guess their gimmick :P
...or 2% at Canadian Direct Financial:
https://www.canadiandirectfinancial.com/Personal/
Anyone use CDF?

Experiences?

Any hidden fees to move money to and from ?
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Re: High Interest Rates for Savings, GICs, MMFs [2012]

Post by CROCKD »

I have an account at CDF

You can see your account on line but you have to call them to move money in or out.

They are a bit slow on moving money in or out.

There is a charge if you make more than one withdrawal a month. I usually don't move money very often but one month I forgot and had 2 withdrawals and was charged $2.50 much to my chagrin.
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Re: High Interest Rates for Savings, GICs, MMFs [2012]

Post by sydney2 »

I have an account at CDF and they transfer the interest every month to my TD chequing account, they set it up this way at my request, and it is always there usually a day before. if I need additional funds, they are usually there the next day. CDF have been the easiest people to deal with.
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Re: High Interest Rates for Savings, GICs, MMFs [2012]

Post by Okanagan »

CROCKD wrote:I have an account at CDF

You can see your account on line but you have to call them to move money in or out.

They are a bit slow on moving money in or out.

There is a charge if you make more than one withdrawal a month. I usually don't move money very often but one month I forgot and had 2 withdrawals and was charged $2.50 much to my chagrin.
Perhaps you haven't checked lately, but you can transfer money in and out from your external bank account online - you have not had to call for quite awhile. Transfers are usually completed within 2 days.
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