The investment savings account playbook
Investment savings accounts typically offer a yield in the area of 1.25 per cent, which is much better than money market funds. Here's a selection of high interest accounts available through various online brokerage firms.
| Broker | High Interest Accounts Available* | Purchase or redemption fees |
|---|---|---|
| BMO InvestorLine | BMO High Interest Savings Account | none |
| TD Investment Savings Account | ||
| RBC Investment Savings Account | ||
| Altamira High-Interest CashPerformer | ||
| Hollis Investment Savings Account | ||
| Renaissance High Interest Savings Account | ||
| CIBC Investor's Edge | Renaissance High Interest Savings Account | none |
| Altamira High-Interest CashPerformer | ||
| B2B High Interest Investment Account | ||
| Hollis Investment Savings Account | ||
| Manulife Bank Investment Savings Account | ||
| RBC Investment Savings Account | ||
| Credential Direct | Altamira High-Interest CashPerformer | None |
| Manulife Bank Investment Savings Account | ||
| Hollis Investment Savings Account | ||
| RBC Investment Savings Account | ||
| TD Investment Savings Account | ||
| Disnat | Altamira High-Interest CashPerformer | None |
| Hollis Investment Savings Account | ||
| Manulife Bank Investment Savings Account | ||
| B2B High Interest Investment Account | ||
| RBC Investment Savings Account | ||
| Renaissance High Interest Savings Account | ||
| HSBC InvestDirect | ICICI Bank High Interest Investment Savings Account | None |
| Renaissance High Interest Savings Account | ||
| Altamira High-Interest CashPerformer | ||
| Manulife Bank Investment Savings Account | ||
| B2B High Interest Investment Account | ||
| Hollis Investment Savings Account | ||
| RBC Investment Savings Account | ||
| Nat'l Bank Direct Brokerage | Altamira High-Interest CashPerformer | None |
| B2B High Interest Investment Account | ||
| Renaissance High Interest Savings Account | ||
| Manulife Bank Investment Savings Account | ||
| RBC Investment Savings Account | ||
| Home Trust Investment Savings Account | ||
| Qtrade Investor | Renaissance High Interest Savings Account | None |
| Altamira High-Interest CashPerformer | ||
| B2B High Interest Investment Account | ||
| Hollis Investment Savings Account | ||
| Manulife Bank Investment Savings Account | ||
| ICICI Bank High Interest Investment Savings Account | ||
| RBC Investment Savings Account | ||
| TD Investment Savings Account | ||
| Questrade | Renaissance High Interest Savings Account | A $9.95 commission applies to purchases and sales |
| Altamira High-Interest CashPerformer | ||
| Hollis Investment Savings Account | ||
| Manulife Bank Investment Savings Account | ||
| RBC Investment Savings Account | ||
| Scotia iTrade | Bank of Nova Scotia High Interest Savings Account | None |
| Hollis Investment Savings Account | ||
| RBC Investment Savings Account | 1% fee charged on funds held for less than 90 days, minimum $28.88 | |
| Manulife Bank Investment Savings Account | ||
| Renaissance High Interest Savings Account | ||
| Altamira High-Interest CashPerformer | ||
| TD Investment Savings Account | ||
| RBC Direct Investing | RBC Investment Savings Account | None |
| TD Direct Investing | TD Investment Savings Account | None |
| Virtual Brokers | Almost all | None |
*These are Canadian dollar accounts. U.S.-dollar versions are often available. Source: Brokerage firms
How to order an investment savings account
You'll need these fund codes to order an investment savings account through an online broker. U.S.-dollar accounts have different codes - consult your broker. Companies offering these accounts have varying minimum upfront investment requirements, but brokers often impose their own minimum purchase of $1,000 or more.
| Fund | Code |
|---|---|
| Altamira High-Interest CashPerformer | NBC100 |
| B2B High Interest Investment Account | BTB100 |
| Bank of Nova Scotia High Interest Savings Account | DYN1300 |
| BMO High Interest Savings Account | AAT770 |
| Equitable Bank High Interest Savings Account | EQB100 |
| Hollis Investment Savings Account | DYN500 |
| Home Trust High Interest Savings Account | HOM100 |
| ICICI Bank High Interest Investment Savings Account | IBN100 |
| Manulife Bank Investment Savings Account | MIP510 |
| RBC Investment Savings Account | RBF2010 |
| Renaissance High Interest Savings Account | ATL5000 |
| TD Investment Savings Account | TDB8150 |
Source: Investment company websites
Follow Rob Carrick on Twitter @rcarrick
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