Learn more about Canada’s top banks rates, rules and the latest news – read on!
Latest News
Switching to a better bank account Dec 16th
Almost every adult Canadian has a bank account, according to the Canadian Bankers Association. And there are practical reasons for that: most of us need a bank account to cover rent or mortgage payments, receive paycheques and to maintain our lifestyles.
But what if you’re looking for a bank acc.... More »
The best high-interest savings accounts in Canada for 2025 + MORE Feb 3rd
Savings comparison tool
Find the best and most up-to-date savings rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated return based on the size of your balance.
Why trust us
MoneySense is an award-winning magazine, helping Canadians navigate mo.... More »
Big banks boost prime lending rates following BoC rate hike + MORE Jul 13th
TORONTO — Canada’s five biggest banks are boosting their prime lending rates by 25 basis points, following an interest rate hike from the central bank.
Royal Bank of Canada (TSX:RY), the Bank of Montreal (TSX:BMO), TD Bank (TSX:TD), Scotiabank (TSX:BNS) and CIBC (TSX:CM) all announced Wedne.... More »
Scotiabank CEO downplays concerns raised over Canadian debt levels Mar 22nd
TORONTO _ Scotiabank’s chief executive says he disagrees with recent red flags raised over Canada’s high debt levels by an international body, and that he is “comfortable” with the lender’s risk profile.
Brian Porter told a University of Toronto conference that he had a.... More »
The Art of a Banking Deal May 24th
Congress eases the Dodd-Frank pain on non-giant banks..... More »
The parade of Canadian banks reporting solid earnings continued Thursday as TD Bank and CIBC both posted third-quarter earnings that topped the average expectations of analysts.
12 Months to Being Debt Free – August
– ratesupermarket.ca
With only five months left in our 12 months to being debt free challenge, some of you may be hitting a wall in your debt repayment journeys. If the reason behind this is because a big chunk of your repayment goes towards interest every month, then you should consider taking steps to reduce the amount of interest you’re paying.
How do you do that? There are actually a number of ways to cut your interest significantly and accelerate your repayments. I’ll look at some of the most common strategies to help you figure out which is right for you and can help ensure you meet your goal of becoming debt free before you ring in 2017.
Ask for an Interest Rate Reduction
The easiest way to reduce the amount of interest that you’re paying is to simply ask for a rate reduction. Sometimes credit card companies and loan servicers are willing to reduce your interest rate as an act of goodwill – especially if your credit has improved significantly since you originally applied for the credit card or loan and you’ve been making all your payments on time…
