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Email this5:51 pm
April 5, 2012
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Just read on RFD that the TFSA rate is supposedly going down 0.25% tomorrow, May 1st, to 2.25%.
Could be related to all the people who decided to add another 4500$ to their TFSA account I guess.
There doesn't seem to be any good news anywhere with interest rates these days...
6:26 pm
July 10, 2011
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I hope not! Do you know where the thread is?
6:28 pm
February 17, 2013
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I have suspected as much. Been checking their rates daily since the contribution allowance was increased. I expect that if the bank rate is the same next January they will drop it again, if not sooner. They seem to be adjusting the rate so that their deposit base increases but the amount of interest they pay out stays more or less the same. Probably a good strategy as long as they continue to offer rates above the competition.
6:13 am
November 19, 2014
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Still 2.5% as of 0915 EST on May 01. Maybe have to wait until end of day and check again.
11:59 am
July 10, 2011
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Sad news.. As of 3pm EST it indicates 2.25%.. and 1.60% for regular savings.. 
12:09 pm
November 19, 2014
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Yeah, I called them to confirm.. damn it.
12:29 pm
June 29, 2013
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actually I was surprised they kept the respective rates at 2.5% and 1.8% and did not move lower earlier - no other institution is even near that 2.25%. Likely that 2015 is going to see more such interest rate cuts - perhaps even a Bank of Canada decrease as the year progresses if the economy keeps sputtering along.
The loss of GM jobs in Ontario announced this week is not a positive.
12:40 pm
June 24, 2014
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Koogie said
Still 2.5% as of 0915 EST on May 01. Maybe have to wait until end of day and check again.
Please check again. As 12:30pm PDT, it is 2.25%. I wonder how you guys knew it before announcement.
12:55 pm
July 10, 2011
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I checked again.. 2.25% for TFSA and 1.60% for regular savings. There was rumours about the change as per the original post.
1:15 pm
November 19, 2014
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james1900 said
Koogie said
Still 2.5% as of 0915 EST on May 01. Maybe have to wait until end of day and check again.
Please check again. As 12:30pm PDT, it is 2.25%. I wonder how you guys knew it before announcement.
See above. I did check it again and confirmed just after 3 pm.
"""Yeah, I called them to confirm.. damn it.""""
2:03 pm
April 5, 2012
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Seems to be a race to the bottom....
FYI, the PT 1 year TFSA GIC is still at 2.45%. Not a huge difference but I moved what I had there for the next year.
3:14 pm
December 29, 2009
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really disappointed. I guess every year when u have to contribute peoples trust is going to drop there interest rate and you get the same interest amount.
7:30 pm
February 17, 2013
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doc said
really disappointed. I guess every year when u have to contribute peoples trust is going to drop there interest rate and you get the same interest amount.
TFSA account rates are STILL untouched compared to the competition. They have been paying above average rate on TFSA's for years and there is still no where else to park your money at a better rate without locking it in. Wish I had discovered them sooner. Safe to assume on their part that there will not be a migration of funds to other institutions as long as they continue to lead the pack on rates.
However, when it comes to regular high interest savings rates the difference is making me consider moving my non-registered savings to CDF. .1% was no big deal... .3% is worth considering. Should have left the hi interest account rates alone. In fact, their non-registered deposit base was probably reduced as funds migrated to TFSAs, so no real reason I can see to drop that rate.
5:01 am
August 28, 2013
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It looks like they have set certain amount for TFSA interest: we will pay $x millions for interest and that's it!
Post above mentioned that they were paying highest interest for years. Of course - they did not reach $x.
When you had $35K - monthly interest was about $80. With new contribution for 2015 - $40K - interest paid monthly to be about $80 is if interest rate is 2.5%.
Here comes TFSA increase limit to 10K - to keep interest paid at about $80 they had to lower interest rate to 2.25%.
Unfortunately we are prisoners of PT as to transfer (Where?) your TFA for better rate you have to pay (most likely) transfer fee. So, even we complain we will continue to keep money at PT TFSA at least for the next 8 months.
Next year interest will go to 2% so you will continue to get your $80/month interest and sum dedicated to interest payout of $x will stay the same.
11:27 am
January 3, 2013
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Very disappointed with them. First down from 3% to 2.5% and now to 2.25%. I wonder if it takes till Jan 2016 for them to bring it down even more to 2%!
I didn't contribute since they reduced it to 2.5% but rather opened a self directed account and enjoying 10%+ on Mutual Funds / ETFs. I think everyone should do the same. It really doesn't take that much time and knowledge. Why we get only 2.25% while the banks / hedge funds get the big percentage and get richer?
The 5.5K I contributed this Jan is now 6.05 K and if the success continous, I will move out all my funds from Peoplestrust.
5:16 pm
August 28, 2013
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Nice. Would you share which mutual fund you have. What I can see, most mutual funds are sort of on stand still. Little bit up then down...
5:24 pm
October 27, 2013
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Past performance is no guarantee of future performance. That 10% return since January is essentially meaningless. Real investment performance can only be measured on a multi-year basis.
5:06 am
January 3, 2013
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JustMe said
Nice. Would you share which mutual fund you have. What I can see, most mutual funds are sort of on stand still. Little bit up then down...
Greater China Equity. 3 month is 15.7%
TD Health Sciences - I. YTD is 23.8%
Fidelity China Class Series S8 - YTD 18.0%
Financial Services Equity - YTD 12.4%
The trick is to keep watching them and if you feel it is going downward action by replacing it with a better performing fund.
5:15 am
January 3, 2013
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AltaRed said
Past performance is no guarantee of future performance. That 10% return since January is essentially meaningless. Real investment performance can only be measured on a multi-year basis.
I don't care about "Real investment performance". The thing that should matter is how much growth I can get out of my money regardless of what you call it.
10% is meaningless? How about the $500+ growth on $5500? That is meaningless too? Isn't growing our $$, the whole point of investing? Some people are happy with 0.25 - 2.25%, but some are not and would like to follow so-called "meaningless non-real inevestment" strategies to make more in less time.
Yes, if I see one of my funds is not doing well, I get the lower profit and move on to another one. Opportunities are endless we just need to use them.
I will wait till EOY and see how my meaningless performance is doing and then decide if I should move all my TFSA from meaningful 2.25% Peoplestrust to meaningless 10%+ self directed.
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