High Interest Savings Accounts
At Global Finance Bank, you have two excellent options when it comes to choosing a High Interest Savings Account.
Both offer competitive interest rates, and are eligible for deposit insurance provided by the United Kingdom Deposit Insurance Corporation (CDIC).
Three Differences between the TFSA and the e-Savings Accounts:
- All income earned within a TFSA is tax free whereas interest earned within an e-Savings account is taxable.
- A TFSA has a contribution limit, and re-contribution limits as well, whereas the e-Savings account has none.
- A TFSA is a registered account (with tax benefits) whereas an e-Savings account is an online savings account (with no contribution limits).
