You can often get higher than advertised rates at your local branch if you do your homework. Print out our "Highest CD Rate Survey" and bring it in with you. Print out some of the rates advertised on web sites competing with your bank and bring those too.
#1 Royal Bank of Canada (RBC Royal Bank). It's assets total $655 billion with deposits of $398.2 billion. It has 1,197 branches, and 71,186 employees.
#2 Toronto-Dominion Bank (TD Canada Trust) with $557.2 billion in assets, $391 billion in deposits and it has 1,116 branches with 65,930 employees.
#3 The Bank of Nova Scotia (ScotiaBank) with 496.5 billion in assets and $350 billion in deposits. It possesses 1,019 branches with 607,802 employees.
#4 The Bank of Montreal (BMO) with $388.5 billion in assets, $236.2 billion in deposits but it only has 900 branches. It has 36,173 employees.
#5 The Canadian Imperial Bank of Commerce (CIBC) with $335.9 billion in assets, $223.1 billion in deposits and 1,072 branches. It has 41,941 employees.
#6 (if you want the big six Canadian banks) is the National Bank of Canada, not to be confused with The Bank of Canada (the Canadian central bank).
| It costs
money to get new accounts so
Banks often give you a deal if you are ready to walk out the door with
a chashier's check after you close your CD. Print
out our "Highest CD Rate Survey"
and bring it in with you to better negotiate for top rates
Definition: A Certificate of Deposit or CD is certificate from a bank stating that the named party has a specified sum on deposit, usually for a given period of time at a fixed rate of interest. Often there is a penalty for early withdrawal (taking your money out before the specified period of time.)
Note: Rates and terms may change at any time. Contact the bank for their current rates.
Article: How to Get the Best CD Rates
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