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Best tfsa savings rate
November 16, 2024
8:58 am
christinad
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I was just looking at tfsa savings rate for hubert and was shocked by how low it is. Is oaken one of the better tfsa savings rates out there? Time to shop around when funds can be withdrawn and reinvested in the new year.

November 16, 2024
9:32 am
christinad
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Sorry i just saw hisa chart. So oaken is pretty good.

November 16, 2024
9:32 am
Dean
Valhalla Mountains, British Columbia
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.
'Seek ... And Yee Shall Find !' https://www.highinterestsavings.ca/chart/

But note that for ethical reasons, some of us here avoid W1BoC like the
Plague ... in spite of their rates & CDIC coverage.

    Dean

sf-cool " Live Long, Healthy ... And Prosper! " sf-cool

November 16, 2024
9:35 am
christinad
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Thanks. So i noticed too the one year quarterly hubert gics still have a good rate too. Is there a reason not to invest in that?

November 16, 2024
9:42 am
Dean
Valhalla Mountains, British Columbia
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    True ⬆

But then, that subject (Hubert's 1 Yr quarterly-cashable GIC) has been
beat-to-death many times over, here. sf-smile

It all depends on what best fits into your plans, for next year.

'Good Hunting !'

    Dean

sf-cool " Live Long, Healthy ... And Prosper! " sf-cool

November 16, 2024
10:22 am
Alexandre
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Make sure you also check promo offers. For example, if you are not client of Tangerine, they have 5.5% for first five months Savings (TFSA, RRSP included) promo offer for new clients.

November 16, 2024
10:49 am
Bill
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I've done quite well with some of Wealth One's promo rates in the past. If I remember right they have a promo often around Chinese New Year time, January I believe, so maybe good for new TFSA money. No idea if they'll have it again this year.

I wouldn't exceed CDIC limits with Wealth One.

November 17, 2024
6:57 pm
Loonie
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christinad said
Thanks. So i noticed too the one year quarterly hubert gics still have a good rate too. Is there a reason not to invest in that?  

The Hubert one year quarterly can be a good alternative, especially if you already do business with Hubert. And they don't charge for transfers-out. Just remember that, while you can choose to withdraw at any time, interest is only paid up to the most recent quarter's end.

The daily rates at some other FIs such as Wealth One are pretty good but not guaranteed for the year like the Hubert one year quarterly rate is - and rates are currently declining.
I believe Chinese New Year 2025 begins about Jan 28.

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