Q&A: High-interest accounts

Question: Do you have any recommendations on which high interest savings accounts to “park” money in? – Sean B.

Gordon Pape answers: The landscape keeps changing so you need to shop around. You will find a table comparing rates from various institutions at www.highinterestsavings.ca/chart/. Check what type of deposit insurance coverage applies; credit unions are covered by provincial plans and the terms may differ from those of the Canada Deposit Insurance Corporation.

Photo ©iStockphoto.com/ Henrik Jonsson

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