At Bank Tool we explore what Canadian financial institutions have to offer and we emphasize the parts we find relevant and valuable.
Receive a bonus when signing up for Tangerine (Formerly ING Direct), one of the banks we rate most highly, by using this free promotional code: Orange Key 40575938S1. This also supports this site which will always remain free to use.
A 3% interest rate is the best we know of. The EQ Bank may not keep this rate forever but they are a new bank and are clearly using this as a way to attract new customers.
They offer options for no monthly fees and no minimum balances and other things that we like to see. Please note that debit cards are not currently available and this is an online/electronic only bank.
Visit eqbank.ca for more information.
We found Oaken Fiancial’s GIC rates to be decent. We were eyeing the TFSA and RSP options in particular. You can see their rates here and do write in to us if you know of better rates.
It’s the right time to take advantage of a great rate.
Between January 1 and March 31, 2016, you can earn 2.5%* interest on new deposits in these TFSA and RRSP accounts:
- Tax-Free Interest PlusTM Savings Account
- Interest Plus RRSP
With PC Financial, it’s easy to start saving. You’ll earn a great rate on every dollar with no fees and no minimum balance required.
See their website page about this promotional offer for more information.
See Tangerine’s promotion page for more information. The interest is for six months then it drops down to the current posted rate.
If you can live without physical bank locations then Tangerine remains our favourite Bank.
The Greater Fool is one of our favourite sources for useful and blunt Canadian financial information. This recent ominous post puts forward the prediction of a 70 cent (against the US dollar) CAD dollar.
Remember, oil is Canada’s big export. Commodity prices are at a 16-year low. And it’s all about to get worse – on December 16th.