The best GIC rates in Canada for 2024 + MORE Jun 4th

The “Big Five” Canadian banks offer investment funds and 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). Let’s explore the best place for you to invest.

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The best GIC rates in Canada for 2024

– moneysense.ca

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The best GIC rates in Canada
Find the best GIC rates in Canada. Plus, everything you need to know about how they work.

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MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999. Our editorial team of trained journalists works closely with leading personal finance experts in Canada. To help you find the best financial products, we compare the offerings from over 12 major institutions, including banks, credit unions and card issuers. Learn more about our advertising and trusted partners.

By Keph Senett and Justin Dallaire on June 4, 2024Estimated reading time: 22 minutes

Here you’ll find the answers to common GIC questions, along with information on the best GIC rates available right now. If GICs are new to you, and you want to learn everything there is to know, start by reading our guide below…

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FP Canada’s 2024 Financial Stress Index: What’s worrying Canadians right now

– moneysense.ca

Despite money continuing to be a major stressor for Canadians, we’re feeling surprisingly optimistic about our financial futures.

This is one of the findings from FP Canada’s 2024 Financial Stress Index, one of the most anticipated reports of the year. It looks at what concerns Canadians financially. What the survey found is that we continue to grapple with financial worries like saving enough for retirement, paying our bills and covering our expenses, and saving enough for a major purchase like a new home, car, a wedding or our children’s education.

The numbers don’t lie. Of those surveyed, 44% cited finances as their top stressor, which is an increase from 2023 (40%), 2022 (38%) and 2021 (38%). The reasons are external factors like elevated grocery prices (69%), inflation (60%) and housing-related costs (52%).

This has led to anxiety, depression and mental health challenges, especially among Canadians under age 35. There are a ton more findings, so let’s do a deep dive into the report to understand how and why we’re feeling a certain way about money…

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