Brokerage investment savings accounts | Page 13 | General comparisons | Discussion forum

canada888 said

There is difference, I noticed someone talked about reinvestment will have a very complicated T3 form ? it is a nightmare to do tax return, caculating by myself for how much I earned? Not sure it is same for ISA  

ISAs are not mutual funds or trusts. They are deposit accounts with monthly interest paid (in cash or via re-investment into more units) and the tax slip is one T5.

No worries. ISA interest rates trend with the BoC interest rate and it has only been in the last 6 months or so that they have trended above HISA rates at digital banks/CUs. I made the switch in the July-Aug time period.

MyUsername said
For DYN6000 is the posted rate of 4.35% after the trailing fee (client rate 4.35%) or it's before the trailing fee is deducted (client rate 4.20%)

Thanks!  

Net of trailer fee so 4.35% to you.

AltaRed said
No worries. ISA interest rates trend with the BoC interest rate and it has only been in the last 6 months or so that they have trended above HISA rates at digital banks/CUs. I made the switch in the July-Aug time period.  

Going back to this comment earlier, brokerage ISAs never got any? minimal? mention on this site for the longest time, most likely because rates were low and because this is primarily a HISA/GIC site, not a brokerage site. Obviously the rise in BoC interest rates has swung the pendulum the other way BUT this too will likely pass yet again in a year or so if/when BoC starts dropping rates and ISAs will be forgotten again.

Folks need to make their own decisions whether 'chasing' these ISAs is now a productive use of their time for a year or two (less?more?) of superior returns.

In case anyone is interested, CIBC's Renaissance ISA just raised its rate from 3.8% to 4%. Weeks late and still near the bottom.

I got tired of this same activity pattern and just sold, to buy DYN6000 tomorrow.

NBDB only supports reinvest distribution. Will I get the distribution if I bought ISA today and sell it before end of month?

Tangerine has a targeted promo of 5% on new deposits until June 30.

canada888 said

is it lock period? then it is not same as ISA, isa is T+1  

The funds are not locked in, if that's what you mean. They say transfers out usually arrive at your account within 2-3 business days. In my experience they arrive the next day.

As I have mentioned previously (or elsewhere), re-investment in additional units is no big deal. You can sell any number of units you want at any given time on a T+1 availability basis, i.e. sell today (Wednesday) before 1400EST (or so) and have the cash available Friday morning.

MG said
ATL5000 now at 4%   

Post 250

Savemoresaveoften; Yeah, just lazy, old, misinformed...and a few other things.

On that misinformed point, I was told a long time ago I could only get the "captive" banks' product, so never looked into it for awhile. When I was with TD Waterhouse years ago, I was DEFINITELY told only their own savings product was available.

$ 32k now with DYN6000 which equates to over $ 100.00 extra per year vs. ALT5000. Makes sense!

I DO hope Renaissance realizes quite a few people are not stupid, just slow?, and gets competitive.