Financial Imbalance

I have been looking to make some adjustments to my personal banking schema. Currently I have most of my banking products at one of the major banks in Canada (TD Canada Trust).

I am in the process of exploring some online High Interest Savings accounts and came across one that appears to meet all my requirements (Achieva Financial) ; which is at the high spectrum of interest rates available to Canadians, as of January 3, 2007 their rate was 4.10%; which is a massive improvement from TD Canada Trust’s 0.05% companion savings account.

I currently have a Canada Savings Bond running at 3% that I will be looking to transfer over to the high rate savings account if I am satisfied with their level of service. My savings bond is also setup as a payroll deduction savings plan, which Achieva Financial also offers, so I will be looking to see if I can switch this around as well with my employer.

I will post a follow-up to this post once I receive the package that I requested from Achieva Financial regarding their products.

Below is some of the online banks and their rates that I was reviewing, during my search for a high interest savings account:

• Achieva Financial – 4.1%
• Cataract Savings & Credit Union – 3.9%
• Dundee Bank of Canada – 3.85%
• ICICI Bank Canada – 3.75%
• Outlook Financial – 4.1%
• Steinbach Credit Union – 4.25%