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#1
10-13-2006, 05:27 AM
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I am going to put away 50k for exactly one year
What is the absolute best rate I can get on it, that is guarenteed. Like a GIC. Also, does it matter that I'm Canadian?
Thank you. 
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#3
10-13-2006, 07:41 AM
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Re: I am going to put away 50k for exactly one year
check bankrate.com maybe
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#4
10-13-2006, 12:04 PM
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Re: I am going to put away 50k for exactly one year
I just did some looking around and found that e-loan had 5.5% APY with 5k min. I don't know anything about them (other than it sounds familiar).
Anyone else know if they are typically high on the interest rate list? It doesn't make sense to move money around often since I believe you lose interest on the time it takes to transfer but if they are typically high then I'd consider a switch (from HSBC).
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#6
10-13-2006, 12:23 PM
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Re: I am going to put away 50k for exactly one year
[ QUOTE ]
I am going to put away 50k for exactly one year [/ QUOTE ] nice work Canadian rates are much different than US rates, the best I've found for savings account is ING at 3.5%. GIC rates for ing (CA) are Investment Savings Account 3.50% (what I have) US$ Investment Savings Account 3.50% RSP Investment Savings Account 3.50% Business Investment Savings Account 3.50% US$ Business Investment Savings Account 3.50% Guaranteed Investment (GIC) - 1 Year 4.25% Guaranteed Investment (GIC) - 2 Year 4.00% Guaranteed Investment (GIC) - 3 Year 4.00% Guaranteed Investment (GIC) - 4 Year 4.00% Guaranteed Investment (GIC) - 5 Year 4.00% Short Term Guaranteed Investment (GIC) - 90 Days 3.50% Short Term Guaranteed Investment (GIC) - 180 Days 4.00% Short Term Guaranteed Investment (GIC) - 270 Days 4.25% RSP Guaranteed Investment - 1 Year 4.25% RSP Guaranteed Investment - 2 Year 4.00% RSP Guaranteed Investment - 3 Year 4.00% RSP Guaranteed Investment - 4 Year 4.00% RSP Guaranteed Investment - 5 Year 4.00% Short Term RSP Guaranteed Investment - 90 Days 3.50% Short Term RSP Guaranteed Investment - 180 Days 4.00% Short Term RSP Guaranteed Investment - 270 Days 4.25%
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#7
10-13-2006, 06:14 PM
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Re: I am going to put away 50k for exactly one year
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#8
10-14-2006, 01:04 PM
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Re: I am going to put away 50k for exactly one year
Try not to flame me, I’m knew. But putting money in an investment option that beats annual inflation by a measly 1% doesn’t seem that smart.
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#9
10-14-2006, 05:51 PM
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Re: I am going to put away 50k for exactly one year
[ QUOTE ]
Try not to flame me, I’m knew. But putting money in an investment option that beats annual inflation by a measly 1% doesn’t seem that smart. [/ QUOTE ] It's a matter of risk tolerance; Ironic I suppose, since I'm a pretty degenerate gambler. I can play for the future alot better knowing I have 50k locked up for the next year, its going to make some money and I'm not going to spend it. I'm also not going to lose it. The difference of a few % over the year (say 2.5% that's only $1250) isn't much compared to the risk (losing tens of thousands).
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