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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The best GIC rates in Canada for 2024 Jun 28th
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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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EQ Bank Review: The Best Place to Save Your Money? Feb 18th
It’s been a few short years since EQ Bank emerged onto the landscape of Canadian online banks. But while they may seem like the new kid on the block, their roots run much deeper.
Who Owns EQ Bank?
EQ Bank is brought to you by Equitable Bank, which has been providing residential and commercial lend.... More »
Time for a reality check on bank stocks: Roseman Feb 3rd
Canadian banks do well in the long term as an investment, but often go through temporary declines. They’re in one now, but should recover..... More »
Some Banks Are Too Small to Succeed Oct 30th
Recent regulations strangle lending for rural entrepreneurs..... More »
Canada’s best balance transfer credit cards 2022 Nov 1st
If you carry a balance on a regular credit card, chances are you’re paying around 20% in interest. At that rate, it can become difficult to keep up with the payments and your debt can spike—fast. Moving your credit card debt to a balance transfer credit card can help you pay off the principal mo.... More »
Where to open an RESP
– moneysense.ca
Emily Johnson-Belloto & William (Photograph by Richard Lam)Q: I’m planning on opening an RESP for my son William. Should I just open one at my bank? I’m not sure what distinguishes one bank’s offering from another’s.—Emily Johnson-Bellotto, Montreal
A: Your son is unlikely to thank you for this—either because he’s an infant and can’t form the words, or he’s a teen and can’t remember the words. So I say thank you Mom, on his behalf. Contributing to a Registered Education Saving Plan (RESP) is a brilliant investment, in large part because the government grant provides you with a guaranteed return of 20%. I would stick with your bank because it’s easier to see everything in one place and set up a monthly automatic transfer from your chequing account to your RESP. Besides, an RESP is just an account and the banks’ offerings don’t differ much. That said, the returns on investment products do differ, so pay careful attention to what you invest that money in. Low-cost mutual funds are a good bet, to minimize the impact of fees on your return…
Watchdog tweaks mortgage rules for insurers, banks
– theglobeandmail.com
One of the most notable changes is that the regulator is now spelling out criteria banks must meet to verify the income of borrowers
