Record Low Canada Savings Bonds rate – where to save your money?

Real Estate listings in several area cities such as Ottawa and locally in Cornwall have prices inching upwards, especially while interest rates are so low, are sparking questions where to put your money safely?

The Stock Market isn’t for everyone, and I personally, like some of you, are not big fans of mutual funds.     Many people are simply investing their money in themselves by paying down their debt and mortgages which puts them in a better position if the economy sees a second wave of recession or depression.

L I N KThe vast majority of this current cash hoard is invested in bank deposit accounts, guaranteed investment certificates, which like CSBs also offer historically low short-term interest rates. At the high end, a no-fee savings account at ING Direct pays 1.05% annually, the new bank ally offers a high interest account at 2.0% while a 30-day GIC at TD Canada Trust pays just 0.15%.”

Where are you putting your money Cornwall?

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