Q&A: High-interest accounts

Zoomer | July 19th, 2012

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.

Do you have a money question you’d like to ask Gordon? Send it along and then check out our Q&A section regularly to see if it was chosen for a response. Sorry, we cannot send personal answers.