The Lowest TFSA Interest Rate of All Time
Well, as of this day at least. And the award goes to…….. PC Financial. At an astonishing rate of 1.2% this is the lowest TFSA interest that I have ever seen as you can see here:
I’m inclined to say that it is trivial to invest in a TFSA account with them with that low of an interest rate as even if you had to pay taxes using a more traditional high interest savings account you would earn more in the end.
How is it that they are offering a lower rate than the big banks considering this financial institution should have a lower overhead without things like an in-store branch?
2 Comments
pc_rip on October 6th, 2009
As of 7 Oct, 2009, the rate is now 0.75. Amazingly poor!
Spider on October 3rd, 2009
Heck, Bank of Montreal is 1.0% for the TFSA.