Financial Channel

I'm looking for a bank with high interest. I don't need the money, however from time to time I would like to add more $ into the account.

I'm currently with TD, they helped me open up Bordless Plan. I think its suck.
My monthly interest is like $0.70/month

If I have to lock up the money (no more than 3 years please)

put it in my bank account

seriously.. get a US GIC or something

Maybe a USD market GIC? I remember seeing one at Scotiabank for a three-year term.

how about a US dollar GIC or money market fund?

Citibank esavings account gives you 4.75%, but you have to have a chequing account

your best bet is ING direct (4.15%) or Emigrant

Put it in TD Waterhouse USD - 4% cash rate

Put it in ICICI USD GIC/Term Deposit - 4.6% for 6 months, 4.8% for 1-yr (if you need referral, PM me )

What are the differences between GICs?
I don't think TD GIC offer 4% interest. Last time I checked it was 2%ish

I will have to look into ING as I heard they are good. I dont know about td waterhouse

I will not put my usd$ into money market. I lost almost $2000usd last time. Luckly I got it all back in 7 months or so

No more lol.

How is that possible to lose in the money market? Unless you're talking about an FX loss...

Your chequing account does not give you much interest, you need to lock it in a GIC/Term invesetment.
You can switch your account to a USD Daily Chequing account (so you don't need to pay the monthly fee) and use the funds to purchase a GIC/Term.

If you have $5000+, you are eligible for a short term investment. TD has 30 to 365 days type of Terms. The rates are from 3.85-4.05%? (last time i checked)

If you want long-term then choose 1 to 5 years GICs, whatever suits you.
The rates are higher for these.

Hope it helps

sorry I just checked the paper. Its called Mutual Funds

Thanks I'll look into GICs

TD term investment for 365 days got the best rate at 4.20%
While 2 years at BMO 4.30%

I rather put it for 1 year instead

Any suggestion?

2 days ago I bought some US GIC from TD. The listed rate was 4.25% for 1 yr but I was given 4.38%. Go in and talk to a financial adviser and you may just be able to get a better rate than stated.

We currently have our USD in a RBC Money Market Fund and it's making 4.28% which isn't great but way better than their savings accounts and we can still withdraw money at any point.