Tag Archives: tfsa interest rate

Scotiabank TFSA Interest Rate Increase Update

I was just looking at the interest rate for Scotiabank and apparently the rate has gone up from 1.75% to 2.6% which was a please surprise as you can see here:

I guess that makes the Scotia Tax-Free Savings Account go from one of the lowest interest rate to one of the higher ones now. This is one of the few banks who are trying very hard advertising wise I think as I keep seeing its commercials on TV all the time.

Should be good for everyone who are considering or are currently using them.

CIBC TFSA Interest Rate Drop

I was alerted that CIBC has just recently dropped its interest rate for its “CIBC TFSA Tax Advantage Savings Account” by 0.5%. Originally it was 3% and as you can see today it is 2.5%:

This bank definitely still has one of the highest transfer fees too at $100.

Outlook Financial TFSA Interest Rate

Looks like Outlook Financial has finally displayed its tax free savings account interest rate on its site. As you can see, it is listed at 2.8%:

The rate itself seems okay when you compare it overall with the other financial institutions and is one of the higher choices when it comes to a credit union.

PC Financial Lowers Its TFSA Interest Rate Again

This is getting a little silly I must say when it comes to the interest rate for PC Financial. Not too long ago I posted how they dropped its interest rate from 3.75% to 3.05%. Today, I discovered that it dropped yet again to 2.55% as you can see here:

At this rate, I wouldn’t be surprised if they end up offering one of the lowest rates out of all the banks. Of course, maybe they have insider information such as knowing the other banks will drop it to say 2.50%, but for now this seems to be one of the most uncertain choices to go with.

RBC TFSA Interest Rate

Alright, so it looks like the interest rate for RBC’s tax free savings account is 2.5% as you can see here:

I guess the range is mid-rate and although they say they don’t charge any “withdrawal” or “annual administration fees” like shown here:

I’m not sure at this point if they have a “transfer fee” should you decide to change to a different bank.

ING Direct TFSA Interest Rate And A Free $13 Bonus

While the interest rate for ING Direct was the predicted 3% as mentioned in the previous post, I never actually made an official post for it. As well, there was another detail about this financial institution that was worthy of a mention too.

Until January the 31st of this month, if you open up a new Tax-Free Investment Savings Account with ING Direct they will give you $13 for free. The stipulation from what I read is that you need to deposit an initial minimum of $100.

As well, during the signup you need to enter in the promo code or as they call it the “Orange Key” which is “TF13”.

This is also one of the places that indicate they have no fees, so that should be a relief for anyone who is contemplating in putting their money with them.

TD Canada Increases Its TFSA Interest Rate

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.