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Email this2:23 pm
September 23, 2014
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Fellow Savers,
Anyone have any experience with this offer?
Calibre
12:04 pm
September 5, 2013
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Stay away from big guys. There are no free lunch!
4:41 am
October 11, 2015
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Not sure why Brimleychen is saying that!
Although i have not put money into this CIBC 1.75, but about 1 year ago i put money into a 2% online savings account and they kept sending me emails that they would keep the rate at 2%. I forget how long that continued, but i would guess that this 1.75 will stay for a while.
It's better than 1.5 momentum at scotia and better than 0.8% at tangarine and PC.
I got a 2.6 at PC a couple of months ago but am always looking for higher rates at other institutions.
There is a 2.5 at ZAG. Haven't set up an account yet, and i think that it will be only for 90 days.
1:55 pm
September 23, 2014
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Turns out Brimleychen was somewhat clairvoyant in his assessment of CIBC. Although the eAdvantage account is advertised as a high-interest savings account, you cannot link any external accounts to conduct online transactions. What that means is that the offer is truly only aimed at existing customers who do their daily banking at CIBC. PCF clients don't count.
While deposits are free, every withdrawl from the account is assessed a $5 service charge. When you put all of that together, this really makes the account a short-term GIC as opposed to competitive high-interest savings account.
I will still make a few deposits over the coming weeks (for portfolio diversification reasons) with the intent of leaving the money idle until the end of the promo period (Feb. 29, 2016). I have a secured a "free" bank draft in order to pull out the funds at the end of promo, but will still have to pay the $5 service fee for a withdrawl.
Calibre
2:01 pm
December 23, 2011
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It is a no brainer. The big guys never last, but want you to stay on. I have been with Accelerate for years at 1.8% or more. No minimums, no limited time period, little to no fine print.
6:58 pm
October 11, 2015
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Calibre: i have a CIBC chequing account so at the end of the promo period (Sunday feb 29th), i will move the money into the chequing account (online) and move the money.....so no fees to move it!!
gonna move some into zag--2.5%...
scotiabank online high interest bank account 1.5%
any other ideas?? (already maxed out EQ)...
kanaka: can you use accelerate from ontario??
9:36 am
April 6, 2013
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AcceleRate Financial is an offering of the Manitoba credit union Crosstown Civic Credit Union. It is likely available to Ontario residents much like Hubert Financial (from Sunova Credit Union, also in Manitoba) is.
AcceleRate's savings account has chequing. But, each debit is $1, after the first one (by cheque, Interac, or EFT) each month. See their Service Fees page.
12:51 am
October 21, 2013
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Yes, Accelerate is good in Ontario, and so is Hubert.
6:19 pm
October 11, 2015
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1.75 cibc ends today...
anyone have a large amount of money in manitoba??
just looking up Accelerate in Manitoba: rates are good!! how long would you go?? and how much would you be comfortable putting in???
eRate GIC, TFSA, RRSP, and RRIF
1 Year Term
2.00%
2 Year Term
2.10%
3 Year Term
2.20%
4 Year Term
2.45%
5 Year Term
2.50%
6 Year Term
2.55%
7 Year Term
2.60%
" All deposits in any Manitoba credit union or
caisse populaire are guaranteed, without limit.
We ensure that Manitoba credit unions and
caisses populaires operate under sound business practices."
6:46 pm
December 23, 2011
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dentgal said
Calibre: i have a CIBC chequing account so at the end of the promo period (Sunday feb 29th), i will move the money into the chequing account (online) and move the money.....so no fees to move it!!
gonna move some into zag--2.5%...
scotiabank online high interest bank account 1.5%
any other ideas?? (already maxed out EQ)...kanaka: can you use accelerate from ontario??
Yes.
6:58 pm
October 21, 2013
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I have no problem with MB credit unions. They operate under legal requirements.
You might also consider Oaken, which is an online bank insured under CDIC. For savings, it offers a comparable rate. I find them very professional to deal with.
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