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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?;). |
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