Hi Does someone know which Bank is offering a good rate on TFSAs? I have just had a look at ING Direct and they have a 3% rate if apply before Oct. 31,09. Any idea if some other financial institution are offering more than that? I still have to check with other Bank's sites in the meantime.

Thank you in advance.

I think 3% is about the highest right now (at least in ON).
But it might be a teaser rate i.e. later this year or early next year, they may reduce rates drastically.
PC Financial did the same late last year - offering 3% even before the TFSA came into effect on Jan 1st.
Around Jan 15th, the rate was reduced slighly and by March I think it was down to what the other banks were paying.
I think now it's around 1% or so.

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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."

-- Rhett Butler in "Gone with the Wind"

http://www.ingdirect.ca/en/accounts-rates/historicalencadtfsaisa.jsp

http://icicibank.ca/PersonalBanking/ratehistory_popup_tfsa.htm

I think the ING's current interest rate is just a marketing gimmick. If you see the rates varied quite frequently between 1.35% and 3% since Jan 2009 wheres as the same in case of ICICI for example is 2.15% and 3% which is more consistent during the period.
SBI Canada is also offering 2% currently and rates are more consistent.
Any thoughts?