HISA stands for “high-interest savings account.” Most banks and financial institutions in Canada offer HISAs. There are a few different types, including Basic HISAs U.S. dollar HISAs Tax-free savings account (TFSA) HISAs, and Registered retirement savings plan (RRSP) HISAs. ...
Dive deeper: Where to find the best GIC rates in Canada HISA vs. RRSP RRSP stands for registered retirement savings plan. This type of plan allows you to make tax-deductible contributions, reducing your annual taxable income. You also don’t pay any tax on the interest or investment income...
As 2024 fades into the rearview, it’s time to update best online brokerages in Canada comparison for 2025. As we enter the 2025 “RRSP season,” there has never been a better time to get started with DIY investing. Back in 2006, one of my first ever posts that I wrote for this si...
RRSP savings account US dollar savings account » DISCOVER: How to make a joint bank account work for you What to expect from online savings accounts Interest rates Online savings account interest rates can fluctuate quite a bit as they’re tied to the Bank of Canada’s overnight rate. In...
motusbank also offers great rates on registered accounts, making it an attractive option for your savings, chequing, TFSA and RRSP accounts. Have a look at our full Motusbank Review to find out more about its offerings.#8 Oaken Financial High Interest Savings Account...
If you earn an income of between $50,000 and $150,000 in Canada, you’re likely paying a marginal tax rate of about 40%. That means, if you open an RRSP account with Qtrade and invest $5,000, you’ll instantly get: $2,000 back on your taxes ...
What is the best discount brokerage in Canada? My testing found that Questrade offers the best trading platforms along with excellent educational content and tools. As a discount broker, it also offers lower commission rates to investors who are comfortable investing on their own. The Questrade Edg...
You should ALWAYS choose the local currency if you’re paying with one of the best credit cards without foreign transaction fees because you’re guaranteed to get the best exchange rates. If you were to choose CAD dollars, there’s a slight markup included by the payment processor. That fee...
Rates*: 0.05%-0.10% on checking accounts, 0.15% on savings account, and 19%annual overdraft interest rate. Fees*: No monthly fees. Best for: Easy access to your money online. 3. Alterna Bank Another of the best online banks in Canada, Alterna Bank functions as the direct banking arm ...
Bonus: EQ Bank also offers one of the best TFSA and RRSP savings rates in Canada at 2.00%*. You can open TFSA savings or RRSP savings account with just a few clicks. Related: EQ Bank: The Best Savings Account in Canada? EQ Bank Notice Savings Account Alternatively, you can open an EQ...