Personal Finance

The Official RFD TFSA thread for Savings Accounts! (Updated as of 09/09/2017)

Deal Addict
Oct 4, 2009
1857 posts
661 upvotes
Montreal
Ahzuz wrote:
Apr 5th, 2017 3:01 pm
Maybe a dumb question but whatever.

Why would someone put money in a saving account with guaranteed <2% return when you can put your money in EFT (Couch Potatoe portfolio style) and earn 3-4-5-6% ?

Thanks
That 3/4/5/6% you mention comes with considerable variance and could lead to -20/30/40/50% at any time depending on the chosen asset allocation. If someone if looking to buy another house and just when they need the funds a quarter or half of it is no longer there that's going to be a problem.
Deal Addict
User avatar
Dec 14, 2006
2853 posts
147 upvotes
Montreal
Got it,

thanks.
I was there at the 32$ price error at dell.ca day AND at the 150$ off price error at fs.ca
RFD price error moto: "Buy now, think later." -Ahzuz
Member
Nov 4, 2015
268 posts
61 upvotes
Also transaction costs with buying/selling ETFs, depending on what broker you use, can eat away at any return for short term investments.
Newbie
Oct 22, 2016
1 posts
Meridian Credit Union promo on now for new members ($1 fee to join): receive $100 when you open a savings account (including tfsa). Must deposit $1000 and keep it there 3 months.
Just opened one today.
Newbie
Mar 28, 2017
70 posts
15 upvotes
Alterna lowered to 1.90%

Still the top pick for those wanting Savings + TFSA at same place
Newbie
Feb 24, 2017
4 posts
newt_101 wrote:
Mar 29th, 2017 10:40 am
I put $47K into PC's TFSA to get their promo rate late last year and it's coming to an end in a couple of days.
Did you get the bonus interest in April?
Deal Fanatic
User avatar
Oct 24, 2004
5476 posts
676 upvotes
Toronto (Central)
rikk84 wrote:
May 3rd, 2017 11:33 am
Did you get the bonus interest in April?
Yes
Member
Dec 21, 2014
220 posts
116 upvotes
Vancouver
ferniebc wrote:
May 2nd, 2017 11:27 am
Alterna lowered to 1.90%

Still the top pick for those wanting Savings + TFSA at same place
If only this was available in BC!
[OP]
Moderator
User avatar
Mar 23, 2004
35794 posts
3093 upvotes
Markham
ferniebc wrote:
May 2nd, 2017 11:27 am
Alterna lowered to 1.90%
thanks, will update op today.
「もし、奇跡を起こせたら……」
Deal Fanatic
User avatar
Apr 16, 2006
5865 posts
321 upvotes
stephen5 wrote:
Jun 3rd, 2017 11:58 pm
If only this was available in BC!
Is Alterna not available in BC? They operate everywhere, including QC, don't they?

BC seems like a weird province to not allow accounts to be opened from. I'm in Alberta and opened Alterna accounts here and it was fine.

I'd double check that.
Member
Dec 21, 2014
220 posts
116 upvotes
Vancouver
Octavius wrote:
Jun 4th, 2017 2:28 pm
Is Alterna not available in BC? They operate everywhere, including QC, don't they?

BC seems like a weird province to not allow accounts to be opened from. I'm in Alberta and opened Alterna accounts here and it was fine.

I'd double check that.

https://apply.alterna.ca/?prod=136&_ga= ... 1495482515


Here it says you need an Ontario address to apply. And. Only residents of Ontario are eligible. I ended up going with Zag. But would gladly switch if I can
Deal Addict
Oct 4, 2009
1857 posts
661 upvotes
Montreal
stephen5 wrote:
Jun 4th, 2017 3:29 pm
https://apply.alterna.ca/?prod=136&_ga= ... 1495482515


Here it says you need an Ontario address to apply. And. Only residents of Ontario are eligible. I ended up going with Zag. But would gladly switch if I can
That's Alterna savings, not Alterna bank. Alterna bank accepts all Canadians, yes even those of us from QC.
Member
Dec 21, 2014
220 posts
116 upvotes
Vancouver
S5 wrote:
Jun 4th, 2017 6:11 pm
That's Alterna savings, not Alterna bank. Alterna bank accepts all Canadians, yes even those of us from QC.
Good catch, thank you! I guess I'll have to contact Zag & ask them to cancel my application, as I just did a photo deposit yesterday. Worth the extra effort in order to get teh higher interest rate. Thanks!
[OP]
Moderator
User avatar
Mar 23, 2004
35794 posts
3093 upvotes
Markham
OP updated, RBC/TD up to 0.60%, added Wealth One Bank TFSA (2.50%).
「もし、奇跡を起こせたら……」
Sr. Member
Sep 19, 2009
774 posts
166 upvotes
What's the deal with Wealth One Bank? It seems that they have 2.50% for regular HISA as well.

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