For cash it is a very good rate in Canada.
PC financial also offers a savings account, believe pays 3.5% under 1000, however 4% over 1000. plus there is bonuses for time, ect. not sure what it would work out to over a year.
also you can use CIBC bank machines to get at your money or transfer online or pay bills. no fee chequing account also available.
There are Ishares (stock) that tracks different bond portfolios. the symbol is XSB mer is .25 and the yield is over 4%. very liquid.
drawback is you have to pay commission to buy and sell the stock. also in the future may want to look at the XBB believe mer is .30 this tracks the cdn. bond index.
good idea for most cdn. investors tracks the main cdn. index.
note : at this time only hold short term bonds. been the case for a few years. though looking back the XBB has had a good return. so I was wrong. still prefer short term bonds to long term at this stage.
so would try PC financial or etrade. if the amount is over 5000 then there are many places you can park you money.
also many 1 year GIC /CD that pay over 4.2%....and up....
note : have an account with Etrade Canada, like the website, and trade stocks in my portfolio.
would rate them 7/10. only problem is one time they did not credit my account with dividends from two stocks.
it took over 2 weeks to fix, and also I spotted the mistake or may have never got the dividends.
never heard any complaints about the cash account. in the general good reviews though.
ING, for higher rates etrade or pc financial.
thanks
selkirk
