The new year started with the usual teaser rate introduction in almost all financial institutions in Canada. ING Direct raised their TFSA rate for savings accounts to 2.0% from 1.5%. How long it is going to last is anybody's guess. On the other hand, CIBC's 0.75% bonus rate is good till April 30th, 2011. Combined with the regular 1.25% it comes to the same 2% interest rate. So far, the highest TFSA rate is coming from Canadian Tire Financial Services, a whopping 3.5% on their savings accounts.
Happy New Year!
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