Personal Finance

Keeping A Closer Eye On HISA & GIC Pays Off

  • Last Updated:
  • May 11th, 2020 5:33 pm
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Jul 29, 2013
1207 posts

Keeping A Closer Eye On HISA & GIC Pays Off

I have accounts in 15 companies plus some spousal and joint accounts to maximize interest rates. In the past I kept a list of maturities plus bonus offers expires I managed and thought I was doing a pretty decent job.

I got serious last year to keep on top of it and not letting any balance sit for even a day, take advantage of bonus offers more quickly and juggle between them. After finishing our income tax I was surprised at a 60% increase in interest income higher than the last couple of years. Part of the increase could be because the interest rate last year was a little higher than in previous years.

Moral: It pays to play the interest rate lottery game and keep close tabs on maturities. More so now the rates are going down.