There are plenty of bank savings account options in Canada! Stay on top of the best plans right here.
Latest News
Low interest rates have ‘done their job’, says Poloz + MORE Jun 29th
THE CANADIAN PRESS/Sean Kilpatrick
OTTAWA – With the Bank of Canada nearing its next policy decision, governor Stephen Poloz is reiterating his message that his 2015 interest-rate cuts appear to have done their job.
Poloz said in an interview broadcast on business news channel CNBC that the Canadi.... More »
How to use your credit card responsibly Jun 4th
Credit cards are a part of everyday life. They’re a convenient and safe way to pay for your purchases, and they often come with perks and benefits. Plus, when you use a credit card responsibly, you can build up your credit score, which can help you access loans, mortgages or other types of credit.... More »
Household debt climbs to 167% of disposable income + MORE Dec 16th
(JGI/Jamie Grill)
TORONTO – Canadian household debt hit a record high during the third quarter, as it grew at a faster pace than disposable income, according to the latest figures from Statistics Canada.
The total amount of credit market debt — which includes mortgages, non-mortgage loans an.... More »
“How can I lower my auto insurance bill during COVID-19 lockdown?” + MORE May 2nd
On April 8, 2020, the Insurance Bureau of Canada released the following statement:
To help Canadians cope with the financial impact of COVID-19, the Insurance Bureau of Canada (IBC) member companies are offering substantial consumer relief measures. For consumers whose driving habits have changed si.... More »
2020 Income Tax: What you can’t—and can—claim for your work-from-home office during the COVID-19 pandemic Dec 5th
You furnished a functional home office, you’ve got face masks ready by the door for when you need to run an errand, and you bought sanitizer (so many bottles of sanitizer). You’ve done your part to stay home and help flatten the coronavirus curve. The question now is: Can you write off working f.... More »
Business Highlights
– canadianbusiness.com
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Thawing out: Warmer temperatures lift US economy
WASHINGTON (AP) — Spring’s thaw is reviving the economy, too.
A recent batch of government and business reports show a U.S. economy emerging from winter’s deep freeze.
Economists had expected growth to accelerate in 2014 after two years of slow and steady improvement. But an unusually bitter winter sent factories, hiring and consumer spending into hibernation.
Now, as temperatures rise, the economy is regaining momentum. Factories are busier. Consumers are spending more. Banks are making more loans to businesses. Companies have bigger plans to invest in plants and equipment. And the improvement appears to be widespread across the country.
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Court to hear dispute over Internet TV broadcasts
WASHINGTON (AP) — Thirty years after failing to convince the Supreme Court of the threat posed by home video recordings, big U.S. media companies are back and now trying to rein in another technological innovation they say threatens their financial well-being…
Thawing out: Warmer temperatures lift US economy
WASHINGTON (AP) — Spring’s thaw is reviving the economy, too.
A recent batch of government and business reports show a U.S. economy emerging from winter’s deep freeze.
Economists had expected growth to accelerate in 2014 after two years of slow and steady improvement. But an unusually bitter winter sent factories, hiring and consumer spending into hibernation.
Now, as temperatures rise, the economy is regaining momentum. Factories are busier. Consumers are spending more. Banks are making more loans to businesses. Companies have bigger plans to invest in plants and equipment. And the improvement appears to be widespread across the country.
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Court to hear dispute over Internet TV broadcasts
WASHINGTON (AP) — Thirty years after failing to convince the Supreme Court of the threat posed by home video recordings, big U.S. media companies are back and now trying to rein in another technological innovation they say threatens their financial well-being…
A 2.5% high interest savings account sounds better than it is
– moneysense.ca
The battle for your cash is on. A recent survey for the newly re-branded Tangerine found that 59% of Canadians expect a tax refund this year with 37% banking on a refund of $1,000 or more. It’s no wonder online banks including Tangerine as well as PC Financial have both announced 2.5% promotional interest rates on new deposits until June 30 to coincide with tax refund season as well as the closure of Ally bank by RBC on April 30.
While 2.5% looks at least twice as good as the typical high interest savings account, I wouldn’t recommend moving your money because of it. The extra interest on a new $5,000 deposit will only net you an extra $25 or so between now and June 30.
Having said that, if you were looking to open a high interest savings account with an online bank anyway, now is as good a time as any. Be sure to choose the TFSA version of the high interest savings account if you still have contribution room to maximize the benefit.
If you don’t need the money in the short term however, consider investing it in an RRSP for even greater tax efficiency or investing the funds within your TFSA to increase your chances of at least outpacing inflation…
While 2.5% looks at least twice as good as the typical high interest savings account, I wouldn’t recommend moving your money because of it. The extra interest on a new $5,000 deposit will only net you an extra $25 or so between now and June 30.
Having said that, if you were looking to open a high interest savings account with an online bank anyway, now is as good a time as any. Be sure to choose the TFSA version of the high interest savings account if you still have contribution room to maximize the benefit.
If you don’t need the money in the short term however, consider investing it in an RRSP for even greater tax efficiency or investing the funds within your TFSA to increase your chances of at least outpacing inflation…
Thawing out: After a bitter winter, warmer spring temperatures are revitalizing the US economy
– canadianbusiness.com
WASHINGTON – Spring’s thaw is reviving the economy, too.
A recent batch of government and business reports show a U.S. economy emerging from winter’s deep freeze.
Economists had expected growth to accelerate in 2014 after two years of slow and steady improvement. But an unusually bitter winter sent factories, hiring and consumer spending into hibernation.
Now, as temperatures rise, the economy is regaining momentum. Factories are busier. Consumers are spending more. Banks are making more loans to businesses. Companies have bigger plans to invest in plants and equipment. And the improvement appears to be widespread across the country.
“The weather really played havoc. There were ice storms in Georgia. That is not something you see every day,” said Michael Dolega, senior economist at TD Economics. “Now, as Americans have dug themselves out and everything has melted, you’re going to get a bounce back.”
An index based on several leading economic indicators— including employment, consumer confidence, stocks and interest rates — shot up for the third straight month in March, the Conference Board, a business research association, said on Monday…
A recent batch of government and business reports show a U.S. economy emerging from winter’s deep freeze.
Economists had expected growth to accelerate in 2014 after two years of slow and steady improvement. But an unusually bitter winter sent factories, hiring and consumer spending into hibernation.
Now, as temperatures rise, the economy is regaining momentum. Factories are busier. Consumers are spending more. Banks are making more loans to businesses. Companies have bigger plans to invest in plants and equipment. And the improvement appears to be widespread across the country.
“The weather really played havoc. There were ice storms in Georgia. That is not something you see every day,” said Michael Dolega, senior economist at TD Economics. “Now, as Americans have dug themselves out and everything has melted, you’re going to get a bounce back.”
An index based on several leading economic indicators— including employment, consumer confidence, stocks and interest rates — shot up for the third straight month in March, the Conference Board, a business research association, said on Monday…
How Congress Can Fight the Alzheimer's Epidemic
– online.wsj.com
Delaying the disease’s onset by five years would mean billions in health-care savings.
Barrick, Newmont merger hinges on savings – The Globe and Mail
– news.google.ca
Financial PostBarrick, Newmont merger hinges on savingsThe Globe and MailThe market is betting Barrick Gold Corp. could still pull off a multibillion-dollar takeover of Newmont Mining Corp., if the companies can show major cost savings from a deal. Signalling the possibility of a bid, investors on Monday sent Newmont's stock up 6 per …Barrick Gold (T.ABX), Newmont (NEM) merger talk lights up Stockhouse bullboardsStockhouseTSX flat in light trading; TransCanada, gold miners dropReuters CanadaBarrick Gold merger plan may slideTheChronicleHerald.caBusiness Recorder -Financial Post -Waterloo Recordall 159 news articles »
