Key Features of the High Interest Savings Account are:
Higher Interest Rates:
You earn more compared to Standard Savings Accounts, which helps your money grow faster over time.
Low Risk:
Funds are typically insured up to $100,000 per account by the Canada Deposit Insurance Corporation (CDIC), if held at a CDIC member institution.
Liquidity:
Your money remains accessible without the lock-in periods of GICs or other investment products.
Encourages Saving:
The higher interest can motivate consistent saving habits.
Inflation Buffer:
While not as high as investment returns, higher interest helps offset inflation better than standard accounts.
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