WHICH CANADIAN BANK OFFERS BEST RETURN ON FIXED DEPOSIT

[Can10]

I intend to deposit a reasonable amount of money in a bank in Canada that offers good return on it. Does anyone have any idea on the subject.

I shall be grateful for your inputs.

Very best regards

 

[wilson]

I intend to deposit a reasonable amount of money in a bank in Canada that offers good return on it. Does anyone have any idea on the subject.

I shall be grateful for your inputs.

Very best regards

According to my knowledge there is no "Good return " from any Canadian Bank if you deposit your money with them. But they of course get "good return from you" if you take any cash advance, late payments of credit card dues, loans or any other kind of financial assistance from them. Few of the banks give you better interest rate on term deposits. Compare 'Presidents Choice', 'CIBC', and CD Trust.

 

[explorer101]

I intend to deposit a reasonable amount of money in a bank in Canada that offers good return on it. Does anyone have any idea on the subject.
I shall be grateful for your inputs.
Very best regards

All banks in Canada offer peanuts on savings account interest @1.25% yearly. It is better to borrow from them, interest @ 2.15% floating yearly for house mortgage. If you want better appreciation then look for investment in mutual funds or stocks, but that can be risky also. Property prices also do not increase in Canada too much and is likely to fall because of credit crunch.

 

[jnathan]

Has anyone tried HSBC Canada? They are the only bank in EU that didnt face any loss due to the global credit crunch since 2007.

Moreover, Try some Arab banks which runs on Petro-Dollars; should be lucrative.

 

[Can10]

Thank you dear wilson, explorer101 and jnathan for your valuable inputs.

I did some online research myself about return/interst rate that Canadian Banks offer and reached the same conclusion. Definitely its not a viable option.

However the idea of investing in Arabian Gulf States (GCC Countries) could be thought of. I think earnings made on investements outside Canada is taxable in Canada, as we will be receiving and expending these earnings in Canada. I am going to find out how much return Arabian Banks can offer on investment and will share my findings with you guys.

However in the meantime, can someone tell me what percentage of tax is applicable in Canada on these earnings?

Appreciate your comments.

 

[pb55]

How about State Bank of India interest rates on foreign currency fixed deposit?

Do you have a branch of SBI there?

Any one with SBI experience please share.

 

[jnathan]

not all policies are fair by Indian Government and there are huge corruption in India.
India is unreliable.

 

[pb55]

Yes I agree GOI not very fair. But SBI offers very good interest rates on Foreign currency. Any one with experience with the bank can share.

 

[Mayyur V Tawde]

How about State Bank of India interest rates on foreign currency fixed deposit?

Do you have a branch of SBI there?

Any one with SBI experience please share.

Hi,

If you are still looking for better interest rate from India on your investments, then LIC'c Jeevan Akshay VI is the best option now. This plan will close by Nov 30th 2017. The entry age for NRI in this plan is minimum 30 years and maximum 100 or 85 depending upon the annuity option selected. This is immediate annuity / pension plan that offers life time Gauranteed interest rate corresponding to the age at entry. Example, for NRI of age 50 investing INR 10,000,000, the immediate annuity will be INR 814,000 for his / her life time. Please note that interest rate are going to decline as per Trading Economics, to 4.75 by 2020. Kindly refere https://tradingeconomics.com/india/interest-rate/forecast , If one reinvests this annuity in LIC's New Endowment plan, he can get his capital back after certain years depending on his age and term of the plan. Also, please note that he will still Continue to get the annuity with an increased effective rate. This plan is backed by the Sovereign Gaurantee from The Government of India.
For more details you may email to mvtawde@gmail.com

Thank You and Regards,
M T

 

[suren44]

Thank you dear wilson, explorer101 and jnathan for your valuable inputs.

I did some online research myself about return/interst rate that Canadian Banks offer and reached the same conclusion. Definitely its not a viable option.

However the idea of investing in Arabian Gulf States (GCC Countries) could be thought of. I think earnings made on investements outside Canada is taxable in Canada, as we will be receiving and expending these earnings in Canada. I am going to find out how much return Arabian Banks can offer on investment and will share my findings with you guys.

However in the meantime, can someone tell me what percentage of tax is applicable in Canada on these earnings?

Appreciate your comments.

Have you done your research? If so, which bank/plan is finally concluded as best one to invest Canadian earnings?