Canadian Interest Rates are falling with the Bank of Canada keeping the door open to negative interest rates, the yield on High Interest Savings Accounts is near zero. I have updated my page on High Interest Savings Accounts, click here to view the latest rates.
This might be a time for Canadian investors to re-consider jacking up their home and rental property mortgages to take advantage of historically low interest rates, and also protect themselves from potential inflation. Canadian mortgage site RateHub lists 5-year fixed rates from the big banks at under 2%, and variable rates almost down to 1.50%.
Scotia Bank is giving a .25% bonus on top of their current .40% rate for new addition funds into DYN HISAs (BNS /DYN6000 & ADSB /DYN5000 ) effective Oct 1/2020 to March 26/2021….if you can get your broker to not take a trailer fee, the return is bumped an additional .10% to .75% ( DYN6004/DYN5004)
Thanks for your comment, if you have any suggestions on how to buy a HISA without the trailer (and not in a fee based account, please let me know)