HISAs vs. bonds and GICs: Where should Canadians hold their cash? Apr 2nd

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.

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HISAs vs. bonds and GICs: Where should Canadians hold their cash?

– moneysense.ca

“Bonds are back,” you may have read on a financial news site or heard a financial advisor say recently. True enough, money is flowing into these fixed-income investments at the highest rate in years, and for good reasons.

In fact, Canadian savers have an abundance of good choices right now for places to earn rates of interest that will keep their money growing ahead of inflation. So, where should you put your money: in bonds, guaranteed investment certificates (GICs) or a high-interest savings account (HISA)? You may be surprised at how similar these are for interest rates. But there’s more to the story.

Is it time for Canadians to invest in bonds again?

The talk of bonds coming back only makes sense if you understand where they went. For most of the past decade, bonds have been a terrible investment as interest rates fell to historic lows, meaning they paid almost no interest. Then inflation took off as the global economy lurched out of the COVID-19 pandemic, and central banks were forced to raise interest rates—fast…

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