So it looks like CIBC took a hit today as its tax free savings account interest rate fell. Not surprisingly, it has dropped to the widely adopted figure of 2.25% as you can see here:
It’s almost like all the big banks have a discussion with each other ahead of time to determine a universal rate huh?
ING Direct definitely had one of the higher interest offerings at 3% initially and just recently the rate has been reduced to 2.3% as you can see here:
The rate is still higher than most other financial intuitions I suppose which is the good thing as a lot of other banks seemed to have adopted a 2.25% rate.
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