ING Direct is currently offering an effective 3% annual interest rate on two of their products.
These products include a 90 day 3% RSP GIC and ING Directs’ Tax Free Investment Savings Account.
3% is relatively good compared to other rates being offered at other banks. The Tax Free Savings Account rate of 3% is great until the moment it changes, which can happen at any time.
The RSP GIC is good as it is locked in for 90 days, however after 90 days we will have gotten only 2 months short of when the rates are set to increase.
For those who want to earn 3% on an RSP GIC, which is a good return, act now, before this offer is gone.
Keep in mind that after 90 days you are not guaranteed to have the same rate of 3%, so you might want to consider pulling out your money if the return is not as good or locking it away into a savings account until you come across an appealing venture.
I will be on the search for any other banks offering such a great rate and I will report back to you, so stay tuned.