Personal Finance

RBC has increased to 1.050% for High interest eSavings

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  • Jul 17th, 2018 11:44 am
[OP]
Newbie
May 24, 2018
28 posts
21 upvotes

RBC has increased to 1.050% for High interest eSavings

It was 90% in the past, but now they has increased to 1.050%. a small percentage.

RBC has became the second bank which offers a highest interest rate in the 5 big banks.

BMO is #1 ranked on a basic interest rate.
40 replies
Deal Addict
User avatar
Oct 16, 2008
4204 posts
1252 upvotes
Calling 1.05% "high" interest is pretty high IMO
Member
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Jan 3, 2013
377 posts
211 upvotes
Raincouver
genericasianguy wrote:
Jul 14th, 2018 3:54 am
https://www.scotiabank.com/ca/en/0,,1071,00.html

Technically you can get up to 1.950% interest if you don't withdraw your money for 360 days.
That is actually rather good. I will have to look into getting an account with them.
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Sr. Member
Apr 8, 2015
539 posts
479 upvotes
Roxboro, QC
I dont think this post belongs in the hot deals forum
Sr. Member
Sep 17, 2007
578 posts
319 upvotes
Toronto
Isn't it similar to disrespecting the value of your money when you put it in these banks? I've heard if you do that then ur money will get really upset and ashamed of you for locking them up in jail. Neither they will grow, nor will they be useful when they get out of the jail. Inflation will laugh at it...
Deal Addict
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May 7, 2007
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So this is supposed to be Hot Deal? :rolleyes:
Sr. Member
Feb 11, 2018
827 posts
669 upvotes
Banks are for those who haven't discovered credit unions. Getting double that rate at some credit unions. Alterna bank, a 'child' of Alterna Savings & Credit Union Ltd is offering an e-saving account paying 2.05%. And you are insured by the CDIC, just like the big bad 5 banks.
Paying less is only half the equation. The other half is buying less... ;)
Sr. Member
Feb 11, 2018
827 posts
669 upvotes
Darkman wrote:
Jul 14th, 2018 8:05 am
So this is supposed to be Hot Deal? :rolleyes:
If you know absolutely nothing about banking then yes, it is a hot deal ;)
Paying less is only half the equation. The other half is buying less... ;)
Deal Expert
Aug 22, 2011
22517 posts
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Ottawa
TomLafinsky wrote:
Jul 14th, 2018 8:07 am
Banks are for those who haven't discovered credit unions. Getting double that rate at some credit unions. Alterna bank, a 'child' of Alterna Savings & Credit Union Ltd is offering an e-saving account paying 2.05%. And you are insured by the CDIC, just like the big bad 5 banks.
TomLafinsky wrote:
Jul 14th, 2018 8:08 am
If you know absolutely nothing about banking then yes, it is a hot deal ;)
Those who keeps their money in a HISA, isn't that savvy either.
Deal Addict
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Aug 29, 2011
3265 posts
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Westmount (Montreal)
Lol

Who put money in Banks?

With cryptocurrency the average margin are much more impressive.

I'm at a 40% difference since December!

Minus 40%, but still impressive!
Deal Fanatic
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Feb 9, 2005
5499 posts
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Scarborough
Yes, guess they followed the BOC Prime rate increase. Mind you they also increased the interest of any credit product that is Prime +, so mortgages, lines of credits, etc.
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Jun 3, 2006
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Markham
KianLake wrote:
Jul 14th, 2018 3:40 am
It was 90% in the past, but now they has increased to 1.050%. a small percentage.
90% to 1.050% is a yuuuuuge drop. ;)

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