Personal Finance

Best account for interest.

  • Last Updated:
  • Jan 17th, 2018 12:26 pm
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[OP]
Jr. Member
Sep 23, 2014
127 posts
110 upvotes
Vaughan, ON

Best account for interest.

I am planning to have my savings deposited in a saving account that gives high intrest.
However I will be needing the amount if I decide to buy a property. I need suggestions on which account bank/account to go for.
I am planning to go for Simplii (PC financial) high saving account with 3% interest. Is this a good option? Anything better?
2 replies
Moderator
User avatar
Mar 23, 2004
43136 posts
9079 upvotes
Markham
vparvath wrote: I am planning to have my savings deposited in a saving account that gives high intrest.
However I will be needing the amount if I decide to buy a property. I need suggestions on which account bank/account to go for.
I am planning to go for Simplii (PC financial) high saving account with 3% interest. Is this a good option? Anything better?
That's the best option for now.

Refer to this thread: official-rfd-thread-savings-accounts-up ... 17-698055/
Deal Addict
Mar 8, 2013
2689 posts
1382 upvotes
I had PCF accounts when they switched to Simplii, and I had no issues. However, people trying open a new Simplii account report all kinds of problems and delays. The 3% promo is only until the end of February; after that who knows? If you have TFSA contribution room, you could use that so that whatever you earn is non-taxable. Even BMO has a 2.5% TFSA promo, although it ends at the beginning of April. There are many threads here, but I would start with the one listed by angel_wing0

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