atlantic2003

Is there anybody have a saving account in ICICI?

Which bank have a better rate for a year saving without any risk?

Thanks,

lovelytito

Check ING Direct. Their Saving account and Tax free saving account have very good rate with no risk (under these 2 accounts, not sure about other investment accounts). And ING direct is the memeber of Canada Deposit Insurance Corporation which means your savings is protected (up to $100K, as all the other 5 major banks). Their rate is much better than ICICI: 1 year of saving account is 1.5%, and 1 year of tax free saving account is 2% now. Plus, it is very simple to deposit and withdraw. You can do the transaction of in and out and manage your account online by yourself if you prefer, and you can withdraw any amount at any time at no fees.

If you know somone who has the saving account at ING, you can use this person's orange key (sort of ref#) to get $25 cash by opening your account. And the person who has the orange key (your reference) also gets $25 cash.

I don't work for ING so this is not an ads This is so far the best place that I have searched....wants to share this info with you guys.

lovelytito

The reason I don't like GIC is that you cannot really move your money out without jeopardizing the inerest. And one year GIC does not have a better rate than one year saving account or TF saving in ING direct, plus, with ING Direct you can move out your money without any problem - the interest is calculated at the date you withdraw.

Yourself can see the difference. I don't want to comment too much anymore in case suspiciousness of ads.

atlantic2003

Thank you very much for your information. I have ING account already and used for many years and really good. Looking for another good one, similar to or better than ING.

Post by lovelytito;2660895
The reason I don't like GIC is that you cannot really move your money out without jeopardizing the inerest. And one year GIC does not have a better rate than one year saving account or TF saving in ING direct, plus, with ING Direct you can move out your money without any problem - the interest is calculated at the date you withdraw.

Yourself can see the difference. I don't want to comment too much anymore in case suspiciousness of ads.

lovelytito

LOL ......once you find it, let me know. I would like to know who is better than ING.

Post by atlantic2003;2660922
Thank you very much for your information. I have ING account already and used for many years and really good. Looking for another good one, similar to or better than ING.

atlantic2003

Found that MAXA Financial has 1 year GIC at rate of 2.1%, regular saving at 1.85%, really good rate. Any body uses them?;).

Post by lovelytito;2661033
LOL ......once you find it, let me know. I would like to know who is better than ING.

lovelytito

I heard that this is a good option for GIC's and saving account, good customer service though their online technology is limited. I have not being using them yet. But it looks like they have better rate than ING on saving account, not TFSA. TFSA at ING is 2% now.

I don't think that it is a good time to lock your money into GIC at this time. You want to lock in on GIC's when they are up at 5 percent or higher...should put your money in high interest savings accounts but NOT gic's. Now is the time for borrowing at low interest rates. The rate is still low now and may be going up soon after so you don't want to lock in your money at this moment. As far as I know, ING has adjusted and increased their rate 2 times since the past 3 months, from 1.2% to 1.5% on saving account as an example.

Another question is: is MAXA Financial memember of Canada Deposit Insurance Corporation? I did not see that they claim this. This is very important since you don't want to lose everything if one day they claim bancruptcy.

Post by atlantic2003;2663883
Found that MAXA Financial has 1 year GIC at rate of 2.1%, regular saving at 1.85%, really good rate. Any body uses them?;).

montrealpost

I have similar question, but ==> "All deposits and interest are 100% [color="red"]guaranteed by the [color="Red"]Credit Union Deposit Guarantee Corporation of Manitoba. "  Furthermore, see http://www.cudgc.com/.

We're using http://www.achieva.mb.ca, there are charges for most types of transactions. We are just using the account to park $.  Believe your http://www.maxafinancial.com is sort of similar.

Post by atlantic2003;2663883
Found that MAXA Financial has 1 year GIC at rate of 2.1%, regular saving at 1.85%, really good rate. Any body uses them?;).