High Interest Savings Account

“Valuable addition to your investment plan.”

A high interest savings account is exactly that:  a savings account with a high interest rate.   It ensures you have a safe and accessible place to put your money and generally has a higher interest rate than most traditional savings accounts.

An increasingly popular product, high interest savings accounts aren’t a replacement for your regular savings account.   Instead, they are intended to supplement them.   Generally, a high interest savings account is for money you don’t intend to touch for a while.

• Accessibility:  unlike GICs, where your money is locked away for a set period of time, high interest accounts let you access your money anytime you want or need to.

• Investing Small Sums:  you can invest as much or as little as you want, unlike mutual funds or stocks.

• Safety:  although interest rates may fluctuate, you will never lose any money. Your principal and interest earned are protected with Canada Insurance Deposit Corporation (CDIC), up to $100,000 per Canadian chartered bank. Conditions may apply, so ask your advisor for further details.

With its many benefits, a high interest savings account is a great option for new investors or those who want liquidity with their funds.   With saving three to six months of living expenses being the recommended practice, a high interest savings account is a valuable investment tool to help ensure your future financial security.

 

Questions about High Interest Savings Accounts?

Please send an email to forgravefinancial@persona.ca