I did my net worth calculation this weekend. The goal of 100K by next year is developing a little slower than expected due to my investment portfolio being down, but I am getting there.
But I noticed that the high interest savings accounts have dropped their rates. ING direct dropped to 3.3% and PC financial dropped to 3.35%.
So I looked up the two other rates I usually keep track of. Things look a little better. Maybe they are just slow to make the rate decrease? I’m not sure. HSBC is at 3.7% and a promotion where new customers get 4.75% until May 2, 2008. Canadian Tire is so far the best deal at 3.75% and new customers get 5% for the first three months.
*edit* Thanks to Nancy (aka money coach) who suggested another bank offering high interest rate: Citizens Bank of Canada.
Thanks to Canadian Saver for adding ICICI Bank which is at 3.6%
Dropping Interest Rates
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2 comments:
Hi there - shameless self-promotion (my new job!) - you may wish to add CitizensBank to your list of places you check for rates. Currently, it's offering 3.75%, and I know it usually keeps at, or near, the top. Also it never has FinePrint (eg. limited time for the rates, then they drop).
You may want to check out ICICI.ca . They are still at 4.1% (and have always been higher than ING).
You do learn something new every day, I had NO IDEA Canadian Tire offered savings and GIC's and stuff!!
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