The “Big Five” Canadian banks include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Are there other viable options?
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When bills go unpaid, that’s when the calls from creditors can start. At home, at work, by phone or mail—they’ll reach out in every way they can to get you to pay.
Debt collectors are obligated to follow specific rules about how they make contact and what information they can request; h.... More »
6 times when a GIC is a smart investment choice + MORE Mar 10th
A guaranteed investment certificate (GIC) may seem like your grandfather’s kind of savings product. After all, his generation was fond of similar investment tools, like government savings bonds and treasury bills, and benefited from periods where interest rates were high enough to make these low-r.... More »
The best travel credit cards in Canada for 2023 Nov 24th
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The best travel credit cards in Canada for 2023
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The best high-interest savings accounts in Canada for 2024 Feb 5th
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The best high-interest savings accounts in Canada for 2024
Here are the accounts offering the highest interest rates and lowest fees.
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Wise Review (formerly TransferWise): A Better Way to Conduct Foreign Exchange? May 14th
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How the Interest Rate Hike Can Affect Canadian Post-Secondary Students
– ratesupermarket.ca
If you haven’t heard, the Bank of Canada raised its key overnight lending rate by 25 basis points last month. And while mortgage affordability is usually the first thing that comes to mind when people discuss an interest rate hike (or drop), students heading to university or college may also be affected by this move.
As the prime rate rises, so does the cost of borrowing money, or taking out any type of loan. Here’s where students can expect rising interest rates to affect their finances come September:
Student lines of credit
To supplement the cost of tuition, books and residence, many post-secondary students use a student line of credit. It’s a flexible solution, typically with lower interest rates than credit cards or government loans. However, when interest rates rise, so do the floating rates tied to lines of credit. The interest rate on a line of credit is calculated using the banks’ prime interest rate, which fluctuates, and often follows the Central bank when it changes its rate…
The close: TSX ends lower as banks, gold miners weigh
– theglobeandmail.com
Wall Street finishes flat as investors assess White House moves
How the Interest Rate Hike Can Affect Canadian Post-Secondary Students
– ratesupermarket.ca
If you haven’t heard, the Bank of Canada raised its key overnight lending rate by 25 basis points last month. And while mortgage affordability is usually the first thing that comes to mind when people discuss an interest rate hike (or drop), students heading to university or college may also be affected by this move.
As the prime rate rises, so does the cost of borrowing money, or taking out any type of loan. Here’s where students can expect rising interest rates to affect their finances come September:
Student lines of credit
To supplement the cost of tuition, books and residence, many post-secondary students use a student line of credit. It’s a flexible solution, typically with lower interest rates than credit cards or government loans. However, when interest rates rise, so do the floating rates tied to lines of credit. The interest rate on a line of credit is calculated using the banks’ prime interest rate, which fluctuates, and often follows the Central bank when it changes its rate…
