How to go about securing the best savings strategy in Canada.
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Best FHSAs in Canada: Where to get the new first home savings account + MORE May 8th
First home savings account (FHSA) highlights
The FHSA is a type of registered account that allows you to contribute up to $8,000 annually, up to a lifetime limit of $40,000, to save for the purchase of your first home.FHSAs became available on April 1, 2023. However, availability is currently limite.... More »
“I inherited my husband’s TFSA. Does that affect my contribution room?” + MORE Jul 30th
Ask MoneySense
I have a question about TFSAs that I have not seen being answered anywhere. My problem is as follows: In 2009, both my husband and myself started to make the total allowable contributions to our individual TFSA accounts. When my husband passed away in 2020 the balance in his TFSA at t.... More »
Should you pay your tax instalment payments? + MORE May 13th
If you generally owe when you file your tax return, you are probably accustomed to paying quarterly income tax instalments. These are requests to pay some of your estimated tax for the current tax year in advance, even though it is not due until the following April.
Everywhere but Québec, the tr.... More »
Best in show: How to find and invest in market leaders + MORE Apr 10th
Canadians approach retirement planning in many different ways, but there’s one thing we can all benefit from: a strategy to save enough to retire comfortably and even generate income after we stop working.
But many of us don’t feel financially ready to stop working. According to a 2022 survey.... More »
How to Improve Your Employees’ Financial Wellness + MORE Apr 9th
In today’s challenging economy, Canadians seek ways to stretch their hard-earned dollars and minimize financial strain. But learning how to make the most of every paycheque isn’t always clear or easy, which can cause added stress. Employers can help empower their employees to achieve financial w.... More »
In Your Corner: Interest rates are near an all-time low — where can you get the best return on your savings?
– thestar.com
These are the best high-interest (well, relatively high) savings accounts out there right now.
Currently, Jenny is renting a spot with three roommates for $1,085. She’s using her savings from high school when she worked as a barista part-time for now, but knows that if she doesn’t pick up something soon she’ll be dipping into negatives.EQ Bank review 2021
– moneysense.ca
Online-only banks are increasingly popular due to their competitive, no-fee accounts, in concert with the increasing switch to digital spurred by COVID-19. With some of the most competitive savings and GIC accounts in the country, EQ Bank is helping lead the charge.
As an online-only financial institution, EQ Bank can offer more competitive accounts because it doesn’t have the cost of managing brick-and-mortar branches. They can pass the savings to you in the form of higher interest rates and no-fee everyday service fees.
EQ Bank accounts: overview
As an online-only financial institution, EQ Bank can offer more competitive accounts because it doesn’t have the cost of managing brick-and-mortar branches. They can pass the savings to you in the form of higher interest rates and no-fee everyday service fees.
EQ Bank accounts: overview
Account type
Interest rate
Perks
High-interest account
Get this rate*
1.25%
No minimum balance
Free withdrawals
Free e-transfers
Joint accounts
Cheap international money transfers
TFSA account
Get this rate*
2.30%
No minimum balance
Free withdrawals
Tax-free savings
RSP Savings Account
Get this rate*
2.30%
No minimum balance
Tax-deferred savings
EQ GICs
View all rates*
1.25% – 2.25%
3-month to 10-year GICs
Get more information about EQ Bank*
7 quick facts about EQ Bank
EQ Bank is owned by Equitable Bank, the ninth-largest domestic bank in Canada, and has over $35 billion in assets under management…
Currently, Jenny is renting a spot with three roommates for $1,085. She’s using her savings from high school when she worked as a barista part-time for now, but knows that if she doesn’t pick up something soon she’ll be dipping into negatives.In Your Corner: Interest rates are near an all-time low — where can you get the best return on your savings?
– thestar.com
These are the best high-interest (well, relatively high) savings accounts out there right now.
