Banking

There are definitely reasons to buy GICs: they provide security of capital and also generate some income. With interest rates reaching as high as 8% in the past two years, GIC returns right now are exceptional compared to the previous average of approximately 2% prior to the pandemic. Let's look at the history of GICs.

This piece was originally published on November 16, 2023, and was updated on April 12, 2024. Canadians use Registered Retirement Savings Plans …

Higher interest rates aren’t all bad news. While the cost of borrowing is much higher than it used to be, you can also earn much more interest …

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).

An online brokerage – also known as a discount brokerage – is a must if you want to take investing into your own hands and trade individual stocks, bonds, or exchange-traded funds (ETFs). The best thing … Read More