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Good lord. $100k minimum for a 4% yield? In Canada you can get that at any bank with $100 in your account.
by rchaud 4y ago
Good lord. $100k minimum for a 4% yield? In Canada you can get that at any bank with $100 in your account.
- annexrichmond 4y agoCan you show us where?
- __turbobrew__ 4y agoYea I don’t think “any bank” will give you 4%. Just checked CIBC and there are a number of conditions and also the bonus interest only applies for the first 4 months on your first account: https://www.cibc.com/en/special-offers/smart-savings-bonus-interest.html https://www.cibc.com/en/special-offers/smart-savings-bonus-i... TD is not even close to offering 4% https://www.td.com/ca/en/personal-banking/products/bank-accounts/account-rates https://www.td.com/ca/en/personal-banking/products/bank-acco... And RBC only gives higher interest rates for 3 months https://www.rbcroyalbank.com/investments/psi/hisa.html https://www.rbcroyalbank.com/investments/psi/hisa.html
- rchaud 4y agoI made a mistake, I equated Savings Account with a GIC (which is like a cashable certificate of deposit). In Canada they can both be referred to as a TFSA, or Tax-Free Savings Account. However the GIC is not like a savings account where there are minimum balance requirements to get an advertised rate.