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The BMO Alto High-Yield Online Savings Account offers an impressive APY of 4.10%, one of the best rates available today. This competitive rate applies to your entire balance, whether it’s $5 or ...
The rate was lowered again to 2.0% on August 25, 2016. [21] In May 2017 the rate was raised to 2.3%. [22] From January to March 2020, the rate peaked at 2.45% before being reduced to 2.0% in response to reductions of the Bank of Canada interest rates due to the economic impact of the COVID-19 pandemic. [23]
The maximum annual contribution room for each year prior to 2013 was $5,000 per year. Beginning in 2013 it was increased to $5,500 per year. [8] The $5,500 annual contribution limit was indexed to the consumer price index (CPI), in $500 increments, in order to account for inflation.
On April 5, 2018, the firm launched Wealthsimple Save, a high-interest savings account with a rate that will always be higher than traditional banks. [17] [18] Wealthsimple Trade, a zero-commission stock and exchange-traded fund (ETF) trading mobile app, was available as a beta in August 2018 and publicly launched in March 2019. [19] [20]
High-yield savings account rates for May 6, 2024. Today’s best savings rates are at FDIC-insured digital banks and accounts offering yields of more than 5.50% APY with a minimum $500 opening ...
At the conclusion of its third rate-setting policy meeting of the year on May 1, 2024, the Federal Reserve left the federal funds target interest rate at a 23-year high of 5.25% to 5.50%, marking ...
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