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 number of Canadians redeeming credit card points for everyday purchases is surging during the pandemic, according to a study by CIBC. Typically, Canadians would use their credit card points to travel this time of year. However, COVID-19 continues to restrict border crossings and flights, which .... More »
Applying for a credit card: What you need to know Oct 6th
There are many great reasons to carry a credit card. Beyond the convenience and purchase protection included with many credit card purchases, they’re also important financial tools for establishing your credit history and borrowing money—both of which you’ll need if you want to make a major pu.... More »
The best GIC rates in Canada for 2025 + MORE Oct 20th
GIC comparison tool
Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance.
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MoneySense is an award-winning magazine, helping Canadians navigate m.... More »
Canadian banks assess Hurricane Irma damage, brace for more Sep 9th
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TD Bank stock: Steer clear or buy the dip? May 16th
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Here’s what I know about TD Bank’s anti-money laundering troubles so far. Canada’s second-largest bank was loose in implementing the required checks and balances. It w.... More »
How the Interest Rate Hike Can Affect Canadian Post-Secondary Students
– ratesupermarket.ca
If you haven’t heard, the Bank of Canada raised its key overnight lending rate by 25 basis points last month. And while mortgage affordability is usually the first thing that comes to mind when people discuss an interest rate hike (or drop), students heading to university or college may also be affected by this move.
As the prime rate rises, so does the cost of borrowing money, or taking out any type of loan. Here’s where students can expect rising interest rates to affect their finances come September:
Student lines of credit
To supplement the cost of tuition, books and residence, many post-secondary students use a student line of credit. It’s a flexible solution, typically with lower interest rates than credit cards or government loans. However, when interest rates rise, so do the floating rates tied to lines of credit. The interest rate on a line of credit is calculated using the banks’ prime interest rate, which fluctuates, and often follows the Central bank when it changes its rate…
The close: TSX ends lower as banks, gold miners weigh
– theglobeandmail.com
Wall Street finishes flat as investors assess White House moves
How the Interest Rate Hike Can Affect Canadian Post-Secondary Students
– ratesupermarket.ca
If you haven’t heard, the Bank of Canada raised its key overnight lending rate by 25 basis points last month. And while mortgage affordability is usually the first thing that comes to mind when people discuss an interest rate hike (or drop), students heading to university or college may also be affected by this move.
As the prime rate rises, so does the cost of borrowing money, or taking out any type of loan. Here’s where students can expect rising interest rates to affect their finances come September:
Student lines of credit
To supplement the cost of tuition, books and residence, many post-secondary students use a student line of credit. It’s a flexible solution, typically with lower interest rates than credit cards or government loans. However, when interest rates rise, so do the floating rates tied to lines of credit. The interest rate on a line of credit is calculated using the banks’ prime interest rate, which fluctuates, and often follows the Central bank when it changes its rate…
