Hi there,

I have some ammount in checking account and i want to trasfer some amount on saving account. I do not want to save in RRSP or anyother.

Can anybody give any glimpas on saving account in canada ? Which bank is good and what is the benifit in saving account ?

Thanks in advance.

For savings account you should check

1. ICICI Bank Canada -- Interest rates are good on savings account
2. ING Direct
3. GIC in Any bank like RBC.

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Your attitude, not your aptitude, will determine your altitude.

Thanks for your answer.

Truly speaking i am very confuseed about saving account in canada. Is it same like India. Can i withraw anytime ?

Hi happy2004,

Visit the following site and read the book on "Helping You Bank-An introduction to bank accounts, shopping for a bank account and ways of banking".

http://www.cba.ca/en/publication_list.asp

If you want to know which bank account suits your needs the best then use the Financial Service Charges Calculator by clicking the following link:

http://strategis.ic.gc.ca/epic/internet/inoca-bc.nsf/en/ca00669e.html

The info from above sources would be very helpful to all new Canadians.

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Man's Best Friend

If you have internet availability, I have found PC Financial to be the best. For one you can use the CIBC ABMs, and they are available everywhere, for deposits and withdrawals and their service charges are zilch. They give decent interest rates on any balance. Cheques are free. Having a chequing account and savings account in the same bank, you can easily move money between the two accounts at will.
ICICI bank - the savings interest rate is better(current 2.5% compared to PC's 2.15%). There is a C$6/month charge for maintenance. Very limited ABMs for withdrawals and deposits. Rest is same.

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Diogenes
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The Cynic