PCF Savings down to 3.75%??!!! WTF??!!!!

[emperorrotm]

Last week it was 3.85%, which was bad enough!! I want it back to 4.25%!!!! Interest rate aren't that much lower than they were in December, so what the heck is going on here???

On a side note, their original savings account is down to 2.75%!!

[jeeva86]

Last week it was 3.85%, which was bad enough!! I want it back to 4.25%!!!! Interest rate aren't that much lower than they were in December, so what the heck is going on here???

On a side note, their original savings account is down to 2.75%!!

Just put it into ICICI or something. I believe its still at 4.10%.

[PuppyB]

Don't be mad. This is just real life.

Last week it was 3.85%, which was bad enough!! I want it back to 4.25%!!!! Interest rate aren't that much lower than they were in December, so what the heck is going on here???

On a side note, their original savings account is down to 2.75%!!

[eejikes]

The prime lending rate has moved lower in the recent past which translates to lower borrowing costs, what do you expect, the banks are out to make money

[Jucius Maximus]

Interest rates across Canada and the US are falling in a big way. This is to be expected.

If you have any debts that accrue at higher interest rates, it may be smarter to just pay them as opposed to hoarding your money at lower interest rates.

If you have a mortgage, you are probably coming out ahead in terms of saving money on interest.

[dealstime]

Better than my savings account at TD. I get like .025% or something.

[beerbaron105]

ING dropped a tad to 3.65...ah well,, only a couple bucks a year, no biggie - i'm happier with mortgage rates dropping!

[michael_wong_e]

ya i'm happy about the rates goin down as well

[EchoAngel911]

go to etrade, 4.15% i think

[BillyParadise]

OK, has anyone really done the math here? You interest counters are talking about the difference of $10 PER YEAR per thousand. Unless you have $100K sitting in a GIC, whats the big deal? High interest savings accounts seem to be a big topic around here, but unless you need money in 6 months or so, why leave any money at all in a savings account? Pay your debts off completely, then buy something with some growth potential. Or buy something like a Canadian bank stock. As an example..... current yield on Royal is 3.9%, and has a 5 year dividend growth rate of 15%+ - Scotia is yielding 4.1% and has grown at over 20%

Read a book like The Lazy Investor and stop whining about .1% drop in your "HIGH" interest savings account. (stopworking.ca)

(just my opinion of course - stock examples above were just examples and not specific advice)

[Platypus]

OK, has anyone really done the math here? You interest counters are talking about the difference of $10 PER YEAR per thousand. Unless you have $100K sitting in a GIC, whats the big deal? High interest savings accounts seem to be a big topic around here, but unless you need money in 6 months or so, why leave any money at all in a savings account? Pay your debts off completely, then buy something with some growth potential. Or buy something like a Canadian bank stock. As an example..... current yield on Royal is 3.9%, and has a 5 year dividend growth rate of 15%+ - Scotia is yielding 4.1% and has grown at over 20%

Read a book like The Lazy Investor and stop whining about .1% drop in your "HIGH" interest savings account. (stopworking.ca)

(just my opinion of course - stock examples above were just examples and not specific advice)

Actually, your calculations are based on a 1% difference. A 0.1% difference is $1 per one thousand dollars, per year in the account.

[thezone]

what can you do the rate from the bank of canada was cut and it's surely to be cut again in the current economic situation.

[Impossibles]

OK, has anyone really done the math here? You interest counters are talking about the difference of $10 PER YEAR per thousand. Unless you have $100K sitting in a GIC, whats the big deal? High interest savings accounts seem to be a big topic around here, but unless you need money in 6 months or so, why leave any money at all in a savings account? Pay your debts off completely, then buy something with some growth potential. Or buy something like a Canadian bank stock. As an example..... current yield on Royal is 3.9%, and has a 5 year dividend growth rate of 15%+ - Scotia is yielding 4.1% and has grown at over 20%

Read a book like The Lazy Investor and stop whining about .1% drop in your "HIGH" interest savings account. (stopworking.ca)

(just my opinion of course - stock examples above were just examples and not specific advice)

Couldn't have said it better myself.

[Value Hunter]

I'm going to finally open a Canadian Tire account (5.5% promo) because the better interest there is definitely worth it (for 90 days anyways).

[83_gemini]

A lot of younger people on the Boards may lack long time horizons however; I have cash stashed away because as a student my cash flow situation is uncertain and I lack a long time horizon.