Savings accounts

Interest rates on savings accounts in Canada have taken a substantial dive over the last year, and the bad news is that there doesn't seem to …

Chequing and savings accounts exist for different reasons, and most of us have one of each. After all, it just makes sense to separate your everyday spending money from the funds you’re storing away for a rainy day (or, in many cases, a much more specific financial goal).

How do you know when it’s time to close your bank account? Perhaps you’re preparing to get married and are planning to open a new joint account. …

Retirement is a life chapter that many will spend decades planning for using a Registered Retirement Savings Plan (RRSP). RRSPs have been a staple of Canadian personal finance since 1957. Since then, financially savvy Canadian citizens have taken full advantage of the exceptional tax benefits that this savings program provides. To add icing to the personal finance cake, RRSPs can also hold various types of investments along with savings—all of which can grow tax-free.

High-interest savings accounts provide a great vehicle for long and short-term savings, with many of the best high-interest savings accounts in Canada offering interest rates over 2%.

Tax-Free Savings Accounts (TFSAs) are investing tools designed to shelter your savings from taxes. While its name implies that it is a savings account, TFSAs are accounts that keep your investments and the interest that they earn tax-exempt.