See the fee breakdown section below to view all fees. TD Ameritrade offers margin accounts that help provide you with leverage and competitive cash sweep vehicle interest rates. If you deposit $5,000, the interest rate of 0.55% … I might also put about 5k of my regular TFSA in GICs after doing a bit more research/planning, but I want to keep my short-term savings in the best possible account. On much larger sums, you may be onto something. Meh. Just wondering when that money comes in? I also have some investments in the TFSA. "¹ Your TD High Interest Savings Account (the “Account”) opened by October 31, 2016, will earn extra interest of 1.65% per annum (“Bonus Interest”) above the posted interest rate for this type of account on balances of $5,000 up to $5,000,000 commencing on the fifth business day after Account … TD Canada Trust has two savings accounts that fit into the high interest category: TD High Interest Savings Account… You can avoid the monthly maintenance fee in one of three ways and its out-of-network ATM fee if you have over $2,500 in your account. Short-term savings don't belong in your TFSA. FYI, you can get an interest rate of 2.3% from another bank. I bank with TD. (as said below, math is way off (forgot to divide by 100..). $12.50 is still way too high. New comments cannot be posted and votes cannot be cast, More posts from the PersonalFinanceCanada community, Continue browsing in r/PersonalFinanceCanada, Press J to jump to the feed. Your better off taking the existing TD TFSA Mutual Fund account and get it converted to allow purchases of the e-Series funds and start investing the long time instead. Unlike TD’s standard high-interest savings account, the ePremium Savings allows for unlimited, free online transfers between your other TD accounts… You have 3 options, ranging from 0.01% to 0.1% interest currently. PC Financial doesn't really count as Big 5. There are some options, smaller credit unions have some high rates. It's the last business day of the month. If you have $3000 in there are the beginning of the month, at the end of the month you'll get around $12.50 in interest (not $125.00). It's our main bank so there's convenience there. The TD High Interest Savings Account offers an interest rate of 0.55% but only if your balance is more than $5,000. Is it monthly? The math to figure out the exact amount is complicated due to compounding and how long that specific dollar has been in there and such, but this roughly means you're earning %0.05 divided by 12 (or %0.004) per month. It's our main bank so there's convenience there. TD Bank offers a great deal of account variety to its customers. The TD ePremium Savings account is the other big bank offering included in this review of Canadian high-interest savings accounts. This plan comes with a $0 fee and offers higher interest rates on balances of $10,000 or more. So I have $50K in my TD epremium saving account and it generates $42 interest every month and $10380 in my TSFA and it gives me $8 every month I believe. My time certainly is worth something, and so are these learning opportunities. So, for the whole month, the bank will keep track of how much interest you earn each day, and then will make the total payment on the last day of the month. If I want to buy tdb8150, I need to go to branch to move my money from my high interest TFSA savings account … The growth shown is pre-tax and does not factor in the plan type such as RSP, TFSA, etc. How do I calculate the interest owing? With TD dropping the interest rate every few months, I'm thinking it'd be a good idea to move it into somewhere that'll get me a higher interest rate. So the 10k contribution for this year (if withdrawn by Dec 31) can be re-contributed on Jan1 without using any 2016 contribution. Comparison of longest average store hours in the regions (MSAs) in which TD Bank operates compared to major banks. On $3000, you'll get $0.125. Link your savings account to a TD Beyond Checking account. I went with TD because it's my main bank, and there were no fees or catches to withdrawing money from the account. Major banks include our top 20 national competitors by MSA, our top five competitors in store share by MSA and any bank with greater or equal store share than TD … When I get paid bi-weekly I transfer money from my chequings to my savings. Customer service. What fees does TD Bank Preferred Savings Account charge? I think people who chase interest rates on savings need some perspective. Cookies help us deliver our Services. ADDITIONAL INFORMATION: Your Change Account Type request will be verified and processed within 2 business days. Or catches to withdrawing money from my chequings to my savings ( approx 4 a! Manitoba rule for saving account rates have been dropping on cue with government rates your.. Paid out monthly and paid out monthly see much reason to pick over. In a TFSA with TD short term see here, people 's Trust, Hubert 's Happy savings more. The first recurring payment does not factor in the regions ( MSAs in. 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