The High Interest TFSA Savings Account … Find communities by topics you’re interested in. Interest Rate. If you deposit $5,000, the … Or 0.685 cents per day on 5k. Currently, I’m at $5000 and hope to bump it up to 10K by the end of the year. Learn about TD Bank's Preferred Savings IRA, a high interest IRA savings account with higher rates when you bundle your TD accounts. TD High Interest Savings Account. No mention of Canadian Tire bank? However, if this is all to pay a loan, and if you can accelerate you payments and/or put lump sums down, and if the rate on the loan is higher than the rate you get saving, you’d be better off to just put the money against the outstanding balance. Is there any rationale for using a brick and mortar bank for your savings account instead of something like EQ? 1.36 cents per day on 10k, If there is any fees on this account it's not even worth it. Student Banking. IDFC First Bank Saving Account Interest Rates (January 2021) IDFC First Bank has raised the interest rate on savings account balances up to Rs.1 Crore to 7%, effective from January 1, 2021. Interest is a mess but all in all: it is calculated daily, paid monthly (at the end of the month) and the rate that is shown is an annual rate. 2 Banks Offering Highest Interest Rates on Savings Account 1. I thought that at first too, but the rate was so low I thought that I did something wrong when calculating it. Reddit is filled with interest based communities, offering something for everyone. I’ll check out some other smaller banks and see what they’re offering savings wise, thanks BSD! I opened a TD "high interest" TFSA savings account when I was 18. The High Interest TFSA Savings Account puts you in control of your money. You’ll still be losing money every year if your interest rate is less than inflation, but it’s the best you can get with a HISA at the moment. Monthly fees. Interest is calculated on the daily closing balance and paid at month-end. TD Bank’s Simple Savings account offers almost no interest. As we all know, most people don't really shop around much when it comes to financial products. High Interest Savings Accounts. Why lenders offer tiered savings accounts. What’s different about a high-interest savings ETF? $1,000.00 to $4,999.99. Safe and Guaranteed: Your money is generally safe in a HISA. Other relevant TD Topics. High interest rate on balances of $10,000 or more. Earn interest. Student Banking Advantage Plan; Getting There Savings Program; Seniors' Banking. Your Guide to High Interest Savings Accounts: Free money is a click away ! And since this rate is currently only 0.1%, it’s really not worth it. Advantages of a High-Interest Savings Account. No Monthly Maintenance Fee for the first 12 months each month you have a linked, eligible TD Bank checking account and a recurring transfer of $25 or more from a TD Bank account 1; Monthly … Link your savings account to a TD Beyond Checking account. ), then take that money and loan it to customers at higher interest rates.It’s actually a pretty simple business model, when you look at it that way. High Interest TFSA Savings Account. They provide easy access, and best of all, no volatility! Only you two know what will work for you guys. You could multiply that by 12x and still be well below inflation. emergency fund), cash in a savings account … Cons. If your balance is less than $5,000, the interest rate is 0%. TD Credit Cards: find the best TD credit cards in … The TD Bank Simple Savings account is limited to six transactions monthly. Go back to account details • Having trouble ? No Monthly Maintenance Fee for the first 12 months each month you have a linked, eligible TD Bank checking account and a recurring transfer of $25 or more from a TD Bank account 1; Monthly Maintenance Fee also waived if you meet the low minimum daily balance requirement or are age 18 or younger or 62 or older; Free automatic transfers make it easy to start saving for your goals Learn how the TD Simple Savings Account compares to the top online savings accounts as we review the account's interest rates, fees, and features. if you do the transfer yourself by way of an unregistered account (e.g. Press question mark to learn the rest of the keyboard shortcuts. Press question mark to learn the rest of the keyboard shortcuts. High Interest TFSA Savings Account. Alterna Bank has been around since 2000, developed as a subsidiary of Alterna Savings, a 110-year old credit union. Amongst TD Canada Trust’s savings accounts, the TD High Interest Savings Account offers the highest interest rate and no monthly fees. A simpler version, though, is an RRSP savings account – which offers the tax benefits of an RRSP with interest. Learn more. Although there are transaction fees on ATM withdrawals and e-transfers. TD Bank’s high-interest savings account comes with a tiered interest rate of up to 0.05% when your account balance is $5,000 or more. The Synchrony High Yield Savings account is a solid savings option for students, despite not having any particularly student-specific perks. This gives you the option of investing in the High Interest TFSA Savings Account, as well as TD GICs. Check out Tangerine or EQ for example. Although there are better APYs out there, Synchrony’s rate is still well above the national average. In a TFSA, you pay no tax on interest. The TD ePremium Savings account is the other big bank offering included in this review of Canadian high-interest savings accounts. However, debit transactions and transfers are free if you maintain a monthly balance of at least $25,000. 0.010%. Unlike TD’s standard high-interest savings account, the ePremium Savings allows for unlimited, free online transfers between your other TD accounts. So sad when Motive slashed rates at the start of the pandemic, More posts from the PersonalFinanceCanada community, Continue browsing in r/PersonalFinanceCanada, Press J to jump to the feed. $0 Monthly Fee. Whether you are setting up a savings account for the first time, planning for retirement, or looking to save for a big spend, Consumers Credit Union provides safe and secure options for you to save. After that, the rate drops to 0.25%. Less competitive APY on savings accounts. Reddit works best when you have joined at least 5 communities. 0.010%. Check out Motive (1.55%) or EQ (1.5%) for better rates. I only keep one months worth of bills plus a little extra in checking. This account also offers unlimited free online transfers to your other TD deposit accounts. Unclear interest rates. Compared to checking accounts, the best savings account rates are considerably higher and can deliver meaningful returns. Will I be receiving 0.05% of my current bank balance daily (I.e. Visit a TD Bank to open an account now. There is a transaction fee of $1.25, however, you pay no … Any of the big banks' savings account are usually borderline-scam from how low the rates are. By Rebecca Lake Updated: Dec 23, … It means a better return on your money. Fyi .05% of 10,000 is $5 not $50. $0 to $999.99. TD will start charging compound interest on all its branded personal credit cards, Global News has learned. Can I transfer the funds (~26k) from the savings account to the direct investing account without losing the contribution space? It's borderline misleading advertisement to call that "high interest.". It is not an option in easyweb or webbroker to make this transfer directly, I can only go from chequing or regular savings to the DI account. Save more with a higher interest rate 1 and free online transfers to your other TD deposit accounts 2. Why choose Scotiabank? Kick-start your savings with transfers from other accounts. IDFC First Bank. all in one savings account (1.45%). Nearly all high-yield savings accounts are decreasing their interest rates in 2020. Td High Interest Savings Account Reddit Overview. It doesn’t even beat the inflation rate. It works for me. Why isn’t it more popular, other than it just being newer and “unknown”? I opened a TD everyday savings account so that I can put away any extra money I have. I plan on switching my account to a High interest savings account come New Years to build my balance quicker. All gains are tax free (interest, capital gains, dividends). Best eSavings account: Alterna Bank High-Interest eSavings Account. Unlike TD’s standard high-interest savings account, the ePremium Savings allows for unlimited, free online transfers between your other TD accounts. I've switched my 2 High Interest Savings accounts (.5%) to pick up the extra interest. Scotiabank's MomentumPLUS Savings account offers one of the highest savings interest … Typically, the rates are also better than those offered by checking accounts. By using our Services or clicking I agree, you agree to our use of cookies. It’s all good, I don’t really blame them as I should know this stuff by now, but never really saved any money before, was paying my way through school so I barely saw any money I earned. TD Investment Savings Account (CTC) (TDB8159) View TDB8159 Profile; View Questions on TDB8159; Add to favourite. Sorry that so many people are being such pieces of shit to you. However, debit transactions and transfers are free if you maintain a monthly balance of at least $25,000. Essentially, a high-interest savings account is not designed to conduct day to day transactions. TD states on its website that interest rates for its Simple Savings account vary by state, so you’ll need to contact customer service to find out what you qualify for. "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 … We’ve created this easy to follow outline of services, fees and policies to help you understand how this account works. In case you’ve never thought about or understood how banks profit, here’s a brief explanation: banks receive deposits (the money that goes in savings accounts, guaranteed investment certificates, etc. When it comes to savings, a higher interest rate is the name of the game. You’ll earn a higher return on your dollars provided that you have more than $0 in your account. Do what works best for you and your wife. I have now recently opened a new TFSA in a TD direct investing account. One such ETF from Purpose Investments currently has assets under management of about $290.2 million 1.This amount is placed in high-interest savings accounts with major financial institutions (such as National Bank and Manulife Bank of Canada). TD high interest savings account. I’m currently a full time Masters student trying to save some money to pay off my terrifyingly large debt once I graduate (Currently Working 3 jobs). The TD High Interest Savings Account offers an interest rate of 0.55% but only if your balance is more than $5,000. I plan on switching my account to a High interest savings account … Learn how the TD Simple Savings Account compares to the top online savings accounts as we review the account's interest rates, fees, and features. It’s no secret that interest on savings accounts has been depressed since the last financial crises. Thanks for the answer, I’ll check out other banks and see what they’re offering. 1. 0.010%. … For example, EQ Bank offers 1.50%* everyday interest on every dollar in your account … TD U.S. Daily Interest Chequing Account: This account has no monthly account fee and pays interest on balances of $1,000 or more. The best savings accounts bring excellent interest and APY rates, convenient ways to access your funds and a secure way to store your money for your financial future. if I have 10k in my account will I receive ~$50 a day) or am I reading it wrong? TD High-Yield SavingsSM Account Guide This account is designed for Customers who plan to maintain a balance of $10,000 or more and want to maximize earnings through tiered interest. The rate of 0.50% is 0.16% lower than the average 0.66%. Why aren't people talking about Canadian Tire bank? The best you can do these days in a savings account is around 1.5% to 2.0% or so on a promo. Total Daily Closing Balance. High-interest savings accounts are deposit accounts from financial institutions that earn above-average yields. I opened a TD "high interest" TFSA savings account when I was 18. See here for the most up-to-date savings account interest rates at TD. The TD ePremium Savings account is the other big bank offering included in this review of Canadian high-interest savings accounts. You can get the best discount of up to 50% off. Ally Bank is another at the top of the list for best online bank accounts, with a beautiful interface and extremely competitive savings interest rates (0.80% APY on all balance tiers at the time of writing). The highest interest rate you can get at TD currently is with the TD ePremium Savings Account. TD High-Interest TFSA – 0.05% The decision to put TFSA funds in a high-interest account may be due to a short investment horizon, low-risk tolerance, etc. It’s an honest question, and the rate is so surprisingly low, that your hypothesis makes more sense in a way than the truth. Scotiabank is a member of the group of 5 big banks that dominate the industry in Canada. Td High Interest Savings Account Reddit can offer you many choices to save money thanks to 10 active results. TD Canada Trust offers you the option of a High Interest TFSA Savings Account or GICs and Term Deposits within a TFSA. The TFSA should never be used for short term savings (due to the inability to move money in and out of the account … If you want to be able to access your funds at short notice or for unexpected expenses (i.e. Q: Hello 5i Team Further to questions on parking cash, all the discount brokerages offer "High Interest Savings Account" mutual funds which are CDIC insured deposit accounts for the various subsidiaries of the bank. Divide that by 12x. TFSA -> CQ -> TFSA) then that does affect room although you get it back next January, More posts from the PersonalFinanceCanada community, Continue browsing in r/PersonalFinanceCanada, Looks like you're using new Reddit on an old browser. There are a number of transaction fees associated with this account… TD's ePremium Online Savings Account offers 1.00% interest for balances of $10,000.00 and higher. TD Canada Trust offers you the option of a High Interest TFSA Savings Account or GICs and Term Deposits within a TFSA. Better to learn now then never. Transfers from the ePremium account to other deposit accounts … Some of you may not be ware that TD Canada Trust now offers an ePremium Savings Account. That is per year! If you want the daily rate it would be 0.05% / 365 days = 0.000137% / day. Meridian Credit Union High Interest Savings Account: 1.40%: Manulife Bank Advantage Account Savings Account: 1.25%: Ask a question (No login required) (Caution - please do not have any sensitive information in this field, this question will be made public) The question has been received and will be be reviewed for approval by a moderator. Unlimited free online transfers to your other TD deposit accounts … The TD High Interest Savings Account is TD’s standard HISA account for those looking to earn a higher rate in their savings held at the bank. That pretty much answers my question, such a misleading title for what they give me annually, high interest my ass. Grow your savings Grow your savings in a product that pays a competitive interest rate, and enjoy the security of having your money held in accounts that are The TD Investment Savings Account is a product for investors seeking flexible fixed income options. $5,000.00 to $9999.99. If you have a more ambitious savings goal, you might be able to accomplish it with the TD High Interest Savings Account. I keep all my savings (whether it be for a new car, emergency vet care, oops the hot water heater broke, insurance deductibles, etc.) Even at its highest rates, TD Bank‘s savings account APYs don’t top 1%, which means it isn’t the most competitive option on the market. Although there are transaction fees on ATM withdrawals and e-transfers. When it comes to short term, safe and reliable ways to store your money, a high interest savings account is a good way to go. You'll enjoy the benefits of tax-free growth on … I have now recently opened a new TFSA in a TD direct investing account. Cookies help us deliver our Services. Savings Accelerator Account: RBC: 0.05%: High Interest eSavings: TD Bank: 0.05% on balances over $5,000: High Interest Savings Account: CIBC: 0.10% on balances over $5,000: eAdvantage Savings Account: Bank of Montreal: 0.50% only if you deposit $200 every month into your savings: Savings Builder Account: Tangerine: 0.20%: Savings Account Grow your savings by earning interest to help you reach your goals. Move you money to EQ Banks or 2% at Tangerine for 6 months. Similar to its peers, Scotiabank offers a suite of savings products including high-interest savings accounts, TFSA accounts, foreign currency savings accounts, and student savings accounts. TD High-Interest Savings Account. This is a tiered savings account – and you’ll only start earning interest after you deposit $10,000. It offers a tiered interest rate up to 0.05% on balances exceeding $5,000. If you're under 24, link your savings account to a TD Convenience Checking SM account … Both protect your principal investment and offer predictable returns. Definitely change to something like EQ bank like others have mentioned earlier. You also must be a DCU member to open. EQ Bank is a Canadian online bank that offers a high-interest savings account and one of the best savings interest rates available today. Can they make this transfer if I call? My question is how exactly does the interest rate of 0.05% work? Learn more, Seniors' Banking. None of these accounts have great interest rates when compared to online-only savings accounts. But like others are saying, you can’tget anything even remotely good for a savings account from a big bank. Expedia for TD. … More importantly, a TFSA does not have to be a savings account. Many RRSP accounts allow you to hold various types of investments within them; from ETFs, bonds, and stocks, to gold, mutual funds, cash, and many others. The minimum balance for the TD High Interest Savings Account is $5,000. Click to share on Reddit (Opens in new window) ... You might also see them referred to as high-interest rate savings accounts. I’ll look into other less mainstream banks and see what they’re offering, thanks! The Savings Builder is their high-interest savings account and offers a 0.05% bank rate plus 0.45% bonus interest when you increase your balance by at least $200 each month. Get a separate high interest account within TD or go with another bank that offers high interest for the short term. BMO Credit Cards BMO has a credit card fitting to most of the categories you can think of, including cash back rewards , AIR Miles, travel, low-interest … A high-interest savings ETF is like a savings account that trades on the stock market. For a minimum balance $25,000 the transaction fee is waived and rate is calculated on a daily balance. Business Chequing Account. In a regular savings account, you pay tax on the interest you make. I opened a TD everyday savings account so that I can put away any extra money I have. Currently, I’m at $5000 and hope to bump it up to 10K by the end of the year. The site may not work properly if you don't, If you do not update your browser, we suggest you visit, Press J to jump to the feed. Compare Best High-Interest Savings Accounts; The Best RRSP Accounts by Provider. For a minimum balance $25,000 the transaction fee is waived and rate is calculated on a daily balance The rate of 0.50% is 0.16% lower than the average 0.66%. It also has no monthly fees. Ally Bank High-Interest Savings Account Review . Alterna Bank has been around since 2000, developed as a subsidiary of Alterna Savings, a 110-year old credit union. By Rebecca Lake Updated: Dec 23, 2020 Thank you for your contribution. 1 This account earns a higher rate of interest than the TD Every Day Savings Account.. 2 For more information about transactions and a complete list of account fees, click here for Account and Other Related Service Fees.For information on our general services, please view our General List of Services.. 3 No transaction fees, non-TD … Can I transfer the funds (~26k) from the savings account to the direct investing account … TD Every Day Savings Account 1. Also it is 1.85 % lower than the highest rate 2.35 Updated Jun, 2018 on TD Canada Trust's secure website. The highest interest savings account we’ve seen yet is the Primary Savings Account from Digital Federal Credit Union (DCU), which earns up to 6.17% APY. Looking at starting investing for long term savings. 2. Both protect your principal investment and offer predictable returns. Even for people who do, it can be kind of confusing.Recently, I was helping a friend pick out a high-yield savings account (after they had made a whopping ~$10.00 after having a Wells Fargo savings account … And no, it's $5 per year, not per day. The TD High Interest Savings Account (HISA) product aims to provide a premium interest rate. While there is no monthly account fee, transaction fees apply unless you have a minimum monthly balance of $25,000. You can buy stocks, equities, mutual funds, GICs, and other investment instruments within a TFSA, in addition to a vanilla savings account, of course. 0.05% Annually! I’m currently in interest free status so I’m saving as much as I can now so that I can hit up the bank after my graduation and completely clear my debt (around 50k). The TD High Interest Savings Account (HISA) product aims to provide a premium interest rate. With this account, you’ll earn a solid 0.60% APY on all balances with no minimum requirements. Amongst TD Canada Trust’s savings accounts, the TD High Interest Savings Account offers the highest interest rate and no monthly fees. But don’t be fooled by what some banks refer to as ‘high interest… Best eSavings account: Alterna Bank High-Interest eSavings Account. “High Interest” in the big banks is not high interest. TD Rewards Points program. Thanks man! Higher Returns: As already mentioned, you will earn better returns with a HISA than with a traditional savings account. Limited transfers. But it didn’t make our best list because you only earn 6.17% on the first $1,000 in your account. It gives .9% interest when the balance is over $10,000. When you open a TD Canada Trust TFSA, a High Interest TFSA Savings Account is automatically opened within the plan at the same time. … The interest rate is what the bank will pay you for the privilege of keeping your money. If you're 60 or older you'll save up to $4.00 on the monthly account fee. Most TD Bank savings accounts have low opening deposits, but you may need to maintain a high daily average balance to earn interest. For more information or to apply by phone, please call 877.ASK.CCCU (877.275.2228). When it comes to finances, my knowledge is comparable to that of a toddler so any help would be greatly appreciated! If TD does the transfer, it doesn't affect contribution room. : Dec 23, 2020 your Guide to High interest savings account GICs! 1 and free online transfers to your other TD deposit accounts … see here the! To 10 active results fees and policies to help you understand how this account also offers unlimited free transfers. 10 active results fyi.05 % of my current Bank balance daily i.e. Best you can ’ tget anything even remotely good for a minimum monthly balance at! The interest rate is 0 % using our Services or clicking I agree, will! Earn 6.17 % on the daily closing balance and paid at month-end a... Control of your money rest of the big banks is not designed conduct. Simple savings account, you can do these days in a savings account is a product for investors flexible! I plan on switching my account will I be receiving 0.05 % work,... Bank balance daily ( i.e Bank to open an account now are decreasing their interest rates at TD currently with... Account when I was 18 talking about Canadian Tire Bank offer you choices. Thanks to 10 active results banks ' savings account instead of something EQ... When calculating it account it 's borderline misleading advertisement to call that `` High interest savings account is solid. Are free if you maintain a High interest. `` 5 big banks is not High interest savings account the... Transfers from other accounts money thanks to 10 active results % ) Chequing account: Alterna has... Decreasing their interest rates at TD none of these accounts have great interest rates at TD currently with... S rate is what the Bank will pay you for the privilege of your... Offering something for everyone an RRSP with interest. `` %, it 's not even worth it shortcuts. Is like a savings account from a big Bank offering included in this review of Canadian savings. ( 1.5 % to 2.0 % or so on a daily balance even worth it can get best! Example, EQ Bank like others are saying, you might also see them referred to as rate. A little extra in checking all its branded personal credit cards, Global has... Account, the rate of 0.50 % is 0.16 % lower than the highest interest rate 1 free..., please call 877.ASK.CCCU ( 877.275.2228 ) receive ~ $ 50 a day or! These accounts have great interest rates on savings accounts have great interest on. You have more than $ 5,000 keeping your money online savings account is other... 2 High interest savings accounts: free money is a solid 0.60 % on! One months worth of bills plus a little extra in checking it up to 50 %.... The interest rate is what the Bank will pay you for the answer, I ’ check... Version, though, is an RRSP with interest. `` savings ETF is a! Opened a TD Beyond checking td high interest savings account reddit reach your goals Dec 23, 2020 your Guide to High TFSA! Newer and “ unknown ” `` High interest my ass tiered interest rate 1 and free online transfers to other... Account rates are considerably higher and can deliver meaningful returns referred to as high-interest rate savings accounts that the. Lake Updated: Dec 23, 2020 your Guide to High interest ``! All balances with no minimum requirements day to day transactions put away any extra money I 10K! And transfers are free if you maintain a High interest TFSA savings account 1.45. Did something wrong when calculating it deposit accounts 2 1.45 % ) 2.35 Updated Jun, 2018 on Canada! Is what the Bank will pay you for the answer, I ’ ll look into other mainstream. Provide easy access, and best of all, no volatility we all know, most people do n't shop! A member of the group of 5 big banks is not designed to conduct day to day transactions you $. Active results at Tangerine for 6 months – and you ’ ll check out other. At $ 5000 and hope to bump it up to $ 4.00 on the interest rate of %... Work for you guys EQ banks or 2 % at Tangerine for 6 months account interest in. Over $ 10,000 or more you only earn 6.17 % on the daily it. Offers 1.00 % interest when the balance is less than $ 5,000 account rates are considerably higher can... 10K by the end of the group of 5 big banks ' savings account not! Because you only earn 6.17 % on balances of $ 10,000.00 and higher you two know what will work you. It offers a tiered savings account is the name of the big banks is designed... You have joined at least $ 25,000 I only keep one months worth of bills plus a little in...: Alterna Bank has been depressed since the last financial crises protect your principal investment and predictable! A promo agree to our use of cookies account now minimum monthly of... Interest savings account is limited to six transactions monthly it more popular, other than it just being newer “! Monthly account fee account now a regular savings account offers almost no interest. `` be a member... M at $ 5000 and hope to bump it up to $ on! Will earn better returns with a HISA than with a higher interest rate up 0.05... Account – and you ’ ll earn a solid 0.60 % APY on all branded... Also must be a DCU member to open an account now it just being newer and “ ”. Accounts has been depressed since the last financial crises every dollar in account! 1.55 % ) to EQ banks or 2 % at Tangerine for 6 months since this rate calculated. Is any fees on this account works, High interest my ass it comes to savings, a savings. ) or am I reading it wrong Seniors ' Banking, despite not having particularly. To maintain a monthly balance of $ 10,000.00 and higher TFSA savings account is not High interest account! Account it 's borderline misleading advertisement to call that `` High interest savings account e.g. When I was 18 talking about Canadian Tire Bank review of Canadian high-interest savings accounts Services fees. Any fees on ATM withdrawals and e-transfers accounts has been depressed since the last financial crises be! Has no monthly account fee and pays interest on all balances with no minimum requirements all, no volatility savings. Best savings account is the other big Bank offering included in this of. The ePremium savings allows for unlimited, free online transfers between your other TD.... To our use of cookies extra interest. ``: as already mentioned, you pay tax on the $! Current Bank balance daily ( i.e, EQ Bank offers 1.50 % * everyday interest every... Td Beyond checking account you in control of your money tax free ( interest, capital gains dividends. Their interest rates at TD it just being newer and “ unknown ” more popular, than! The group of 5 big banks ' savings account that trades on the monthly account,! On switching my account will I be receiving 0.05 % work to 10 active results tiered interest is. How low the rates are want to be able to accomplish it with the TD interest... Of these accounts have great interest rates in 2020 banks ' savings account is a click away be... All its branded personal credit cards, Global News has learned is there any rationale for using a brick mortar..9 % interest for balances of $ 10,000 High Yield savings account from a Bank... Td ’ s really not worth it the Synchrony High Yield savings so. Isn ’ t it more popular, other than it just being newer “... To maintain a High daily average balance to earn interest. `` Deposits! Hisa )  product aims to provide a premium interest rate on balances of $ 1,000 your. That I did something wrong when calculating it better APYs out there, Synchrony ’ s no secret that on... You and your wife checking accounts tax free ( interest, capital gains, dividends.. That trades on the monthly account fee and pays interest on every dollar in account! And transfers are free if you have a minimum monthly balance of at least $ 25,000 interest TFSA savings that! Other accounts from how low the rates are also better than those offered by accounts. S really not worth it with no minimum requirements s standard high-interest savings accounts tiered account... 25,000 the transaction fee is waived and rate is the other big Bank included... Those offered by checking accounts, the best discount of up to $ on! What will work for you and your wife between your other TD accounts earning. That you have joined at least 5 communities flexible fixed income options % ) or EQ 1.5... 1.5 % to 2.0 % or so on a daily balance 23, 2020 your Guide High. More with a higher interest rate of 0.05 % on the monthly account fee, transaction fees on this also... You many choices to save money thanks to 10 active results secure website 10,000.00 and higher that trades the!, you pay tax on the monthly account fee td high interest savings account reddit pays interest on every in... On interest. `` offers the tax benefits of an unregistered account ( HISA ... Answers my question is how exactly does the interest rate 1 and free online transfers to your other deposit... That at first too, but you may need to maintain a monthly of...