Canadian Money Advisor 2005 |
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Helping Canadians Understand Their Money & Personal Finance since 2005 |
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High Interest Tax Free Savings Accounts for Canadians - January 29, 2010 |
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| TD Canada Trust - High Interest Account (TFSA) | 1.00% | |
TD's high interest Tax Free Savings Account (TFSA) - This is only any level of deposit, Interest is can be payable monthly at the interest rates per annum, as offered on this page. Interest for each level is paid on the total of your closing balance daily. | ||
| Bank of Montreal (BMO) | 1.00% | |
| BMO's Tax-Free Savings Account (TFSA) Rates - Minimum investment $50 * = Paid on the amount of the balance within each level. Interest rates are calculated at a per annum basis. Interest rates may be changed by BMO without notice. | ||
| Royal Bank Canada (RBC) | n/a | |
| RBC's Tax-Free Savings Account rates don't seem to be published on their site...I'm sitting on the phone waiting for a customer service rep to answer my questions... this is painful | ||
| Canadian Imperial Bank of Commerce (CIBC) | 1.00% | |
| CIBC's TSFA - Minimum deposit $25 - There aren't any fees unless you take all or part of your TFSA funds and deposit them to into another financial institution. In this case, <b>a $100 fee applies</b> - Earn guaranteed interest tax free | ||
| ScotiaBank (BNS) | 2.00% | |
| Scotia® Tax-Free Savings Account - * The rate that Scotia pays depends on the closing balance daily. The Interest rate is applied to the whole balance, calculated each day, and paid each month. | ||
| HSBC | .80% | |
| HSBC Tax Free Savings Account - Non Term Deposit ~ * No interest is paid on the portion of the balance in excess of $1,000,000.00. ... Interest is paid each month and calculated based on the closing balance each day. | ||
| ING Direct | 3.00% | |
| ING Direct - Tax-Free Investment Savings Account 3% RATE is not a limited - time promotional offer. It’s their official posted rate and can be changed - same as their other rates. Withdrawals are limited without penalty each year.! There is a Contribution limit of $5,000 for one year | ||
It seems that ING Direct has the highest Tax Free Savings account rates in Canada. 3% beats all of the other rates. HSBC has the lowest TFSA rate at .80% |
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