Bank of Montreal TFSA Interest Rate Drop

I guess this is one of the last round of large banks who has officially decreased its tax free savings account interest rate. BMO originally had a 3.0% interest rate and as you can see here today that has apparently dropped to 2.25%

So by the looks of it people were only able to enjoy a one month rate of the initial 3%. Although, one good thing is this bank apparently had no transfer fee. So if you were thinking of switching then you can do it without too much worry.


Anonymous  on April 8th, 2009

ing direct seems to have the highest rate now.

TFSA  on April 12th, 2009

Whoops, some updates are needed. For ING’s rates though it is lower than most of the large banks as of this date from what I see. Updates coming soon.

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