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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Good habits that can help you improve your credit score Jan 1st
You probably know you should care about your credit score, but do you know why? Simply put, this three-digit number can either help or hurt you in your journey towards financial wellbeing—and it can have far-reaching effects.
Your credit score affects your chances of getting approved for a cre.... More »
Canadian Fintech Companies You Should Know About + MORE Nov 16th
Financial technology companies are set to take over the banking industry and transform our lives within the next 10 years, according to a recent report by McKinsey & Co. But what will that transformation look like for Canadian consumers?
Like most disruptive technologies, the majority of the co.... More »
Compare the best GIC rates in Canada 2023 + MORE Jun 28th
Investing
The best GIC rates in Canada for 2023
Find the best GIC rates in Canada. Plus, everything you need to know about how they work.
Compare now
Tap "Return to top" to come back here.
.... More »
GICs have a hidden commission Mar 31st
Shutterstock
Q. After buying two GICs, I received a statement showing $575 in commissions paid to my broker by a third party. I thought GICs were free of commissions. Any light you could shed on these fees would be greatly appreciated.
— Tom
A. There are few universal truths in investing, Tom, but.... More »
Banks, not commodities, now steer Canada’s market trends Mar 30th
While materials and energy stocks are still mighty forces, the financial sector is by far the most dominant subset in Canadian equities
.... More »
3 Mortgage Marketing Tactics You Should Be Aware Of
– ratesupermarket.ca
Spring is always a competitive season for mortgage lenders, but this year is a true standout; lenders small and large (including the Bank of Canada) have cut rates, some to historic lows – five-year fixed options have dipped as low as 2.44 per cent in some provinces, and even Canada’s big banks are offering rates below the 3 per cent threshold.
In fact, things have gotten so hot, that lenders are getting creative with their discounts; not content to simply offer the lowest rate, we’ve seen a few tactics this year that put a new spin on mortgage marketing. Here’s a look at what’s been introduced in the market so far.
Click here to see the best mortgage rates in your region>
Big Banks Getting in on the Game
Usually it’s brokers and other smaller lenders who push the pricing envelope – but in March, BMO and TD made headlines by cutting their 5-year fixed rates to 2.79 per cent – the lowest ever for large federally-regulated banks (TD has since cut further to 2…
NDP seeks ban on so-called ‘pay-to-pay’ fees at banks
– macleans.ca
OTTAWA – The NDP has called on Ottawa to ban so-called “pay-to-pay” fees charged by Canada’s big banks.
NDP MP Andrew Cash said Thursday that he wants an expanded code of conduct for the banks that is not voluntary.
“Offering the banks a voluntary code of conduct is like telling a cat to regulate its consumption of cat nip,” the NDP critic for consumer protection said.
Ottawa moved to block telecommunication and cable companies from charging fees for paper bills last year.
However, Cash said the banks were excluded from the legislation.
“You shouldn’t have to pay money to pay your bill; you shouldn’t have to pay money to pay your mortgage; you shouldn’t have to pay money to pay your student loan,” he said.
Finance Minister Joe Oliver said the government has taken action to improve access to low-cost and no-cost banking options.
“Our government believes with better information Canadian consumers can make informed choices which will be in their interest,” Oliver said in response to a question by Cash in the House of Commons…
NDP MP Andrew Cash said Thursday that he wants an expanded code of conduct for the banks that is not voluntary.
“Offering the banks a voluntary code of conduct is like telling a cat to regulate its consumption of cat nip,” the NDP critic for consumer protection said.
Ottawa moved to block telecommunication and cable companies from charging fees for paper bills last year.
However, Cash said the banks were excluded from the legislation.
“You shouldn’t have to pay money to pay your bill; you shouldn’t have to pay money to pay your mortgage; you shouldn’t have to pay money to pay your student loan,” he said.
Finance Minister Joe Oliver said the government has taken action to improve access to low-cost and no-cost banking options.
“Our government believes with better information Canadian consumers can make informed choices which will be in their interest,” Oliver said in response to a question by Cash in the House of Commons…
Manitoba Premier Greg Selinger. (The Canadian Press)WINNIPEG – Smokers and banks will pay more to help pay for Manitoba’s spending on infrastructure in a deficit budget that borrows heavily from a dwindling rainy-day fund.
The governing NDP has tabled a $15-billion budget that boosts tobacco taxes by $1 a carton and increases the capital tax on financial institutions to six per cent from five per cent.
The budget — which includes a $422-million deficit — also increases tax credits for the caregivers of vulnerable relatives at home and boosts rental assistance for welfare recipients by up to $271 a household.
“We made a decision to invest in infrastructure. We made a decision to invest in health care. We made a decision to invest in education,” Finance Minister Greg Dewar said Thursday.
“Other provinces have taken a different route.”
The budget draws $105 million from Manitoba’s rainy-day fund to pay down debt and support infrastructure spending…
3 Mortgage Marketing Tactics You Should Be Aware Of
– ratesupermarket.ca
Spring is always a competitive season for mortgage lenders, but this year is a true standout; lenders small and large (including the Bank of Canada) have cut rates, some to historic lows – five-year fixed options have dipped as low as 2.44 per cent in some provinces, and even Canada’s big banks are offering rates below the 3 per cent threshold.
In fact, things have gotten so hot, that lenders are getting creative with their discounts; not content to simply offer the lowest rate, we’ve seen a few tactics this year that put a new spin on mortgage marketing. Here’s a look at what’s been introduced in the market so far.
Click here to see the best mortgage rates in your region>
Big Banks Getting in on the Game
Usually it’s brokers and other smaller lenders who push the pricing envelope – but in March, BMO and TD made headlines by cutting their 5-year fixed rates to 2.79 per cent – the lowest ever for large federally-regulated banks (TD has since cut further to 2…
