Friday, October 5, 2007

High Interest Savings account

Just heard on a radio commercial that the Canadian Tire High Interest Savings Account is offering 5.5% interest. I was so happy I had to check it out right away.

Don't get too excited. It's only a promotional interest rate applicable to new accounts for the first three months. After that it's 4%. Not bad compared to ING's 3.75% but not as good as PC Financial's 4.25%.

I have my PC Financial so sorry Canadian Tire. It's just not worth it for me to go through the trouble of opening an account for extra 1.25% for three months. Show me an interest rate higher than PC Financial and I will definitely consider.


Anonymous said...

I thought the same thing...but then noticed that with Canadian Tire you don't need the $1000 minimum that PC requires. It's a good option for those who want to start saving sooner.

Wiser Miser said...

It looks as though ICICI offer 4.5% but I think I'll stick with my PCF and ING accounts for now.

RFD has an article on Cdn. High Interest Savings Accounts: if you're looking for a comparison chart.

Esme said...

Thanks for the link!

I also looked at ICICI because of their high interest. However, the few reviews I read about their costomer were not favorable.

ING is actually the best customer service and user interface for me. If only they would raise rate...