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Email this5:48 am
August 22, 2014
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might be nice to have a chart of the HISA that cna be bought as mutual funds through brokerages and the rates
8:23 am
October 21, 2013
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mutual funds don't have rates, but they do have fees. They have market value, not guaranteed. I don't see how this would be useful.
9:20 am
August 4, 2010
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He probably means the ISA "investment accounts" that trade in a brokerage account much like a mutual fund, but are actually CDIC-insured deposits. There's no fee - the brokerage gets a 0.25% piece of the interest beyond the posted rate. A bunch of the big banks offer them, sometimes under trading names (TD, Manulife, CIBC/Altamira, etc). A list might be handy, but I don't know if Peter will want to bother.
First, some of the bigger brokers (like TD) are restricting availability to their own "house" ISA, so you can't shop for others. Second, these all usually have pretty much the same interest rate (currently 1.25%), with potentially one or two outliers at a minimal 5-10 basis points extra.
So a chart would be pretty dull, and not worth the bother of keeping up to date. ISAs can be the only game in town in an RRSP/TFSA, but for a non-registered account you can always transfer the money out and store it in a HISA for a better rate.
8:58 pm
August 5, 2014
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NothernRaven, you are right that most of these brokerage account type savings accounts with CDIC deposit insurance do not pay that well and are very uncompetitive compared to savings accounts from credit unions, trust companies etc. ranging from 1.75% to 2.35% as high as 3.00% depending if they are in non-registered, RRSP, RRIF, TFSA etc.
I personally prefer using higher interest savings accounts, cashable and redeemable GIC's that have 1.75% to 2.00% rates for shorter term liquid part of my total investments, savings etc.
2:34 pm
February 22, 2013
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As many long time readers may remember I am with RBC Direct Investing. They offer a Cdn$ and US$ Investment Savings Account that trades like a Mutual Fund. Most other self directed brokerages do as well.
I use these "accounts" to hold "spare cash" left over after dividend re-investments of other holdings. (ETF pays out $249, current price is $50, so 4 shares are purchased leaving $49 dangling in the wind.) When I am ready to re-balance I was selling the entire holding to put with other money to buy something new.
One trick I finally figured out recently was to never, ever sell out entirely. I now typically leave less than $0.25 when I do sell. RBC's offering has an initial investment amount of $500 and subsequent amounts of $25. So a fund totally sold does not allow me to park the example $49. But, having a $0.01 balance does.
GS
4:08 pm
June 29, 2013
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GS- What rate of interest does RBC Direct pay on their Cdn$ and US$ Investment Savings accounts?
Is there a minimum holding period?
4:13 pm
June 29, 2013
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I found it - here it is
Interest Rates (RBC Direct)
CAD USD
Series A 1.250% 0.200%
Series F 1.500% 0.450%
Corporate Series A 1.100% 0.200%
Corporate Series F 1.200% 0.300%
8:31 pm
February 22, 2013
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Brian:
No minimum holding period -- I have moved just over $25 and up to $80000 in one day and out the next when I needed to.
I have five accounts (one trading, two TFSA's and two RSP's) and hold RBF2010 in each of them. One has $10k or so, waiting for the right investment and the other 4 have less than $100 in each, waiting fro a re-balancing.
The interest rate is lower than I would like but I can't/won't pull funds out of the 4 tax sheltered accoiunts to get another 3/4%.
TBF2010 in the trading account was virtually cleared out a number of weeks ago when RBC changed their bank HISA to 2%.
GS
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