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The first tax-free savings account was introduced by Jim Flaherty, then Canadian federal Minister of Finance, in the 2008 federal budget. It came into effect on January 1, 2009. It came into effect on January 1, 2009.
Savings rates and high-interest accounts in the news. Savings rates strongly correlate with the target interest rate set by the Federal Reserve, the country’s central bank. This Fed rate is the ...
Yes, the interest rate on high-yield savings accounts may change based on the Fed's rates and market conditions. It's essential to monitor rate fluctuations.
It offers no-fee chequing and savings accounts, a VISA credit card, Guaranteed Investment Certificates (GICs), mortgages and mutual funds. These savings and investment products are also eligible for registration under a Tax-Free Savings Account (TFSA) or a Registered Retirement Savings Plan (RRSP). As of 2023, the bank has almost two million ...
The primary product offered by EQ Bank is the Savings Plus Account, a high interest savings account with no monthly fees. All of EQ Bank's products require a Savings Plus Account. At launch the bank attracted customers with an interest rate of 3.0% on its Savings Plus Account. [17] The rate was lowered on April 18, just 96 days later, to 2.25% ...
The Federal Reserve decided for the sixth straight time to hold the benchmark interest rate unchanged at a 23-year high of 5.25% to 5.50% at its last rate-setting meeting on May 1, keeping APYs on ...
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