TD Canada seems to be in that group of banks that have a 2014 TFSA rate of 1.0% as well. Makes me wonder if banks like these are giving up for the year in trying to compete for people’s investment dollars or if they will be releasing surprises as the deadline approaches.
I was just looking at the TFSA interest rate for TD Canada at it looks like it has slipped to a new low of 1.25% as you can see here:
I know a lot of people were latching on to this one as it remained as one of the higher ones for awhile I believe it is one of the few banks where the interest rates have been unchanged for the longest time too.
This is one of the first banks that I have seen that actually increased its interest rate for its tax free savings account. TD bank definitely had one of the lowest interest rate overall and as you can see here they have upped its offering to 2.5%:
While the rates are subject to change like all the other banks, it’s good to see them go up instead of down.
On TD Canada’s site they have released information about its interest rates for a tax free savings account. They are labeling it as the “High Interest TFSA Savings Account” with an annual interest rate of 1.75% that is paid out monthly as you can see by this chart:
From my own observations, despite the name of the account plan this seems like the lowest interest rate out of all the banks and financial institutions that I have seen so far.
So one of last major banks is TD Canada Trust and I found its TFSA page located at http://www.tdcanadatrust.com/invest/tax_free.jsp. For the most part, the information on the site is extremely general. It seems like the complete opposite of the previous bank site I visited where this bank doesn’t seem to be trying too hard in attracting TFSA clients from what I see.
I wasn’t able to really find too much details about the account either if you decide to open one through this bank as they simply link to the official government site for the most part. Although, TD bank usually have these deals such as getting free items for opening accounts, so maybe they will introduce that in the launch date.
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