RBC TFSA Rate at 1.0%

As of checking today the rate for RBC seems to be at the pretty common rate of 1%.

0.75% TFSA Interest Rate

Not only is this the first time I have seen any TFSA Interest rate plan go under one percent, but what an odd combination of banks. PC Financial, RBC and CIBC have dropped its rates to 0.75% as you can see.

Normally all the big banks would follow each other at the same time. I suppose everyone should expect the other banks to follow suit in the near future as well.

Bank Wide Interest Rate Drops To One Percent

I was checking a lot of the banks TFSA intrest rates today and it looks like interest rates have dropped throughout many of the banks to 1%. PC Financial, RBC, BMO, CIBC, Scotiabank and HSBC all seem to share the same rate now as you can see below:

Although, for HSBC’s Direct TFSA it is 1.05%. Insanely low rates though regardless. Guess there is no such thing as the one king of low interest rates now as it is a party.

The Same Triple Bank Drop

Once again it looks like the big trio of BMO, CIBC and RBC have all dropped its rate to a similar figure at 1.25%.

It was only about two weeks ago that I posted about the last drop too. That was pretty quick for a drop of 0.25%.

BMO, RBC And CIBC Triple Interest Rate Drop

Similar to last time how a bunch of banks appeared to have copied each other’s interest rate levels it seems like history repeats itself. The Bank of Montreal, Royal Bank and CIBC have all set its new tax free savings account rate at 1.5% :

Again, it seems so artificially with these changes sometimes huh?

Dual Bank Interest Rate Drop

This was kind of a coincident I thought as both CIBC and RBC appears to have dropped its TFSA interest rate to 1.75% as you can see here:

Again, this always makes me wonder if there is some kind of behind the scenes talk ahead of time where the banks collaborate with each other to establish a rate. I suppose these are technically the lowest rates I have seen now.

RBC TFSA Interest Rate Drop

This one was to surprising to me as I expected the bigger banks to drop its interest rates sooner or later. I guess you can add RBC to the mix as its new rate is 2.25% compared to its original 2.5%

The rate is kind of interesting as it is in-line with Outlook Financial’s change that I posted today as well. Makes you wonder if there is a certain reason why financial institutions or banks would be favoring that number.