Banking in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
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The best GIC rates in Canada for 2026 + MORE Mar 30th
GIC comparison tool
Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance.
Why trust us
MoneySense is an award-winning magazine, helping Canadians navigate m.... More »
TD, RBC second-quarter profit bump helped by rising rates, macro environment May 25th
Two of Canada's biggest banks reported second-quarter earnings Thursday that benefited from bigger profit margins on the back of rising interest rates, though the bump could be less pronounced in coming quarters as pressure mounts for banks to raise the interest rates they pay on dep.... More »
What Canada’s financial industry fears in 2018 Dec 28th
A survey of top banks, insurance companies, pension funds and asset managers sheds light on what to expect in the new year
.... More »
The best GIC rates in Canada for 2026 Apr 8th
GIC comparison tool
Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance.
Why trust us
MoneySense is an award-winning magazine, helping Canadians navigate m.... More »
The 16 best credit cards in Canada for August 2023 + MORE Aug 16th
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The 16 best credit cards in Canada for August 2023
Searching for the perfect credit card? In under 60 seconds, CardFinder narrows down your top matches without impacting your credit score, no SIN required.
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Trying to engineer a profitable portfolio
– moneysense.ca
Somayaji Ayalasomayajula, 22, Mechanical Engineer, TorontoI’ve been interested in growing my money since I was 12. At a pretty young age my dad gave me some money and helped me buy a GIC (guaranteed income certificate) with it. I think the aim was to help me see how money grows through interest and compounding. After that, my dad and I got a bank statement every three months that showed I made about $20 in interest on that GIC. I thought that was just the greatest thing.
I’ve always loved the Internet and computers and am a big self-learner. At age 18, I opened a self-directed account with one of the Big Five banks and bought a mutual fund. I really didn’t like the interface that the site offered for trading stocks, which is what I eventually wanted to do, so I started reading up on different self-directed accounts with other financial institutions. I finally found an interface I liked through Questrade. The more up-to-date interface meant I could generally trade fairly quickly, which was what I wanted at the time…
