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Email this2:34 pm
September 22, 2017
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Can you guys update me on what the best known High Interest Savings you are receiving currently?
As Simplii winds down to 2.5% it looks like the other highest option I have seen is 2.5% at tangerine.
Thanks in advance
Ken
3:01 pm
December 20, 2016
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Ken,
Check out these comparison tables:
http://www.cannex.com/public/d.....pa01e.html
http://www.globeinvestor.com/s.....038;page=0
Additionally, if you want to lock in a 2.5% rate on a 90 day GIC, Meridian is offering this on new money until the end of February.
Stephen
4:04 pm
October 21, 2013
Offline4:20 pm
September 22, 2017
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Thanks Stephen. I've seen the chart, but unfortunately it does not show posted promo rates.
And I am not interested in GICs at this time, given the economic situation I would like to have near instant access
7:16 pm
October 21, 2013
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The promos page on this site does show savings accounts; that's why I posted it.
However, if, between the promos page and the comparison chart, you are not able to answer the question adequately, then I would say this site has failed in its purpose and you should say something in "Site suggestions".
7:27 pm
January 10, 2018
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tcharger67 said
Thanks Stephen. I've seen the chart, but unfortunately it does not show posted promo rates.
And I am not interested in GICs at this time, given the economic situation I would like to have near instant access
There are savings account promotions on the Promotion Page :
• Tangerine new customers: 2.50% interest rate for 6 months in a savings account until May 31, 2018
• Tangerine 2.50% net new deposits targeted promo Jan 3 – May 31, 2018 for regular savings, TFSA, and RSP savings
• CIBC net new deposits promo: 2.30% on regular savings, TFSA, and RRSP savings accounts between October 16, 2017 and March 31, 2018; regular savings balance must be over $5,000 for promo
• Simplii Financial net new deposits promo: 3.00% until February 28, 2018
• Targeted: Simplii Financial net new deposits promo extended: 2.50% through June 30, 2018
• Ideal Savings new savings account promo: 2.50% until June 30, 2018
7:44 pm
December 12, 2015
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Ken tcharger67, why do you say, “And I am not interested in GICs at this time, given the economic situation I would like to have near instant access”? Are you fearing bank run? Expecting a crash followed by stock buying opportunity?
8:26 pm
September 22, 2017
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Thanks loonie my apologies. I never noticed the little and between the links and only opened the top link.
Appreciate your help
Ken
8:34 pm
September 22, 2017
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Savermoney. I did really well during the last two recessions, my old man had me investing in my personal favorites at a very young age. Yes in fact I feel that with us personal debt limits back to 07, aging Asian populations, the new 171% solvent debt in Canada, that the small potential on the markets is not worth the coming losses.
The reality is that in August, we will be in the longest ever bull run in the history of the markets. It is my opinion that bear markets will be in the near future, and that when everyone is ringing in record sales, the time to sit on the sidelines is here.
When the shoe shiners know what to buy, sell.
8:04 am
October 21, 2013
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I remember having a conversation with a very dejected stock broker during a previous bad bear market. I was in cash and he clearly envied me. He didn't even suggest it was a "buying opportunity" as there was a justifiable concern that there was a bottom below still. "Cash is king" was the refrain in all the business news at that time.
I've never forgotten the look on his face. It really illustrated how risky the markets can be, and I can still see it in my mind's eye. I guess you could say I felt his pain but I've never wanted to share it.
I'm by nature very cautious, content with my lot, and unadventurous at my age, but what scares me now is the way that any "natural" bear can be greatly magnified, and very quickly, by automated sell orders. Add that to a normal bear market and you could have an unprecedentedly bad situation, seems to me. But I am just a layman in these matters and can't begin to predict how this might all play out. One thing though, it will affect everyone, whether you own stocks or not.
10:58 am
February 13, 2018
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Loonie, I don't think you could have said it better. Cash is king! Why take the risk! The greed of making more? At a certain age you just don't have enough years left to make back what you lost. I think it pays to be conservative and happy with the highest rate we can achieve safely. Sleeping well at night! As rates rise would like to ladder GIC maturity dates. I believe TINA is coming to an end.
3:21 pm
September 22, 2017
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Loonie, I looked at your comment and my first instinct was to go off on a tangent about the focus on much greater yields in the markets over bank revenue.
But I realized something you probably could care less.
So my question to you is? Do you want to leave something behind? Whats your legacy going to be? Have you considered the impact you could have on possibly your grandchildren, teaching them not only the fine art of saving, but investing, and education via tuition?
5:23 pm
October 21, 2013
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No, I have no concerns about those issues. Nobody is depending on me, and it will likely all go to charity.
However, even if I did have those concerns, I'm too old and "small potatoes" to take those kinds of risks. I have what I need and don't plan to jeopardize it. I could afford to take some losses, but have no motivation.
The markets are a long term game, best left to those with infinite horizons and very deep pockets , such as large pension funds. The part of my income that comes from those sources provides all the exposure I need.
6:19 pm
September 11, 2013
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Given the nature of this site I think we're well aware that the risk averse super-savers are going to be here, probably better places to get balanced insights re investing, i.e. lots more comments on here re market declines and crashes than on market upswings, even though the indexes everywhere are way higher than they were 100 years ago as humanity steadily creates more and more wealth and prosperity for more and more humans as history proceeds.
Please write your comments in the forum.