Canada has several major banks and many schedule II banks – but with rates and plans all over the map, it’s difficult to know where to bring your business. Our aim is to help you navigate Canada’s banking options to discover which one suits your needs best.
Latest News
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What Is an NSF Fee?
A non-sufficient f.... More »
This mortgage loophole puts us at risk Jun 28th
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Are You Retirement-Ready?
– ratesupermarket.ca
RRSP season is upon us, and banks are laying on the pressure to save – are you putting enough cash away? Many Canadians, especially young adults, aren’t entirely clear on how they should be saving for retirement – and we spoke to a few of them to see how they really feel (check out our video below)!
Meanwhile, rising bank fees add insult to injury for consumers cash-strapped from a lower loonie. Read on for our full coverage.
VIDEO: RRSP-ECT – Find Out What It Means to Me
We’ve all seen the scary headlines: Canadians, especially Millennials, aren’t saving enough for their golden years. But there’s a lot of confusion around saving effectively – how much do you need to sock away? Should you use an RRSP?
We took to the streets to see how Canadians really feel about their retirement chances. Check out our video!
Read Penelope’s Blog | RRSP-ECT – Find Out What It Means To Me
INFOGRAPHIC: Canadian Mortgage Snapshot
Did you know – there are 5.71 million mortgages in Canada, and $3 trillion in home equity nation-wide? That’s a lot of lending – and 2015 was no exception, with 660,000 new home purchases…
Paying the bank interest to hold your deposits? What gives?
– canadianbusiness.com
WASHINGTON – The idea sounds preposterous: Pay the bank to hold your money?
But the Bank of Japan on Friday joined European central banks by introducing negative interest rates — that is, charging, not paying, for deposits.
What gives?
___
WHAT EXACTLY DID THE BANK OF JAPAN DO?
The Japanese central bank surprised financial markets by announcing a 0.1 per cent fee on some deposits by commercial banks. The central bank vowed to cut the interest rate further into negative territory “if judged as necessary.”
___
WHY?
By charging banks for parking their money, the Bank of Japan — like the European Central Bank and others before it — hopes to discourage them from doing so. It wants those banks instead to make loans and thereby provide some stimulus to a fragile economy. The central bank’s negative rates are also designed to lower other rates. In addition, negative rates tend to lower the value of a nation’s currency, giving its exporters a price advantage in foreign markets…
But the Bank of Japan on Friday joined European central banks by introducing negative interest rates — that is, charging, not paying, for deposits.
What gives?
___
WHAT EXACTLY DID THE BANK OF JAPAN DO?
The Japanese central bank surprised financial markets by announcing a 0.1 per cent fee on some deposits by commercial banks. The central bank vowed to cut the interest rate further into negative territory “if judged as necessary.”
___
WHY?
By charging banks for parking their money, the Bank of Japan — like the European Central Bank and others before it — hopes to discourage them from doing so. It wants those banks instead to make loans and thereby provide some stimulus to a fragile economy. The central bank’s negative rates are also designed to lower other rates. In addition, negative rates tend to lower the value of a nation’s currency, giving its exporters a price advantage in foreign markets…
Are You Retirement-Ready?
– ratesupermarket.ca
RRSP season is upon us, and banks are laying on the pressure to save – are you putting enough cash away? Many Canadians, especially young adults, aren’t entirely clear on how they should be saving for retirement – and we spoke to a few of them to see how they really feel (check out our video below)!
Meanwhile, rising bank fees add insult to injury for consumers cash-strapped from a lower loonie. Read on for our full coverage.
VIDEO: RRSP-ECT – Find Out What It Means to Me
We’ve all seen the scary headlines: Canadians, especially Millennials, aren’t saving enough for their golden years. But there’s a lot of confusion around saving effectively – how much do you need to sock away? Should you use an RRSP?
We took to the streets to see how Canadians really feel about their retirement chances. Check out our video!
Read Penelope’s Blog | RRSP-ECT – Find Out What It Means To Me
INFOGRAPHIC: Canadian Mortgage Snapshot
Did you know – there are 5.71 million mortgages in Canada, and $3 trillion in home equity nation-wide? That’s a lot of lending – and 2015 was no exception, with 660,000 new home purchases…
