After doing some research online with regards to savings accounts, I'm pretty sure I'm going to open up a savings account with ING Direct. My current savings account at TD Canada Trust is 0.05%!! Thats pretty much nothing. I have been saving a lot lately now that I am making a somewhat half decent wage and all my savings is sitting there not getting any interest. The only other savings account that gets higher interest is 2.25% and thats for a $5000 minimum. If you have less than that you don't get any interest. And 2.25% is the highest it goes.
With an ING Direct savings account I would get 3% interest! And there is no minimum, no fees or service charges. You can enroll online or over the phone, then you send them a cheque in the mail written to yourself for your first deposit, which automatically links your checking account to your ING savings account for future deposits.
I'm still going to use the same bank for day to day banking but I think I should atleast put my savings somewhere where it will grow, even if its only a bit. Every little bit counts, and 3% is the highest rate I have seen so far. They also have a great mutual fund account I am thinking about.
What do you guys think? Anyone have one of these ING savings accounts?? What are your thoughts on this?