New answers tagged

2 votes

Do High Interest Savings Account (HISA) have an associated risk?

I believe your friend is just being pedantic. (You could ask to be sure what they had in mind.) Regular savings accounts in Canada (both high and low interest) are CDIC insured. The probability of the ...
user avatar
  • 45.6k
4 votes

Do High Interest Savings Account (HISA) have an associated risk?

What is missing from the other answers is the underlying risk - an insurance is only as good as the insurer, here the Canadian Government. In other words, the risk of partial or total loss exists, in ...
user avatar
  • 37k
7 votes
Accepted

Do High Interest Savings Account (HISA) have an associated risk?

There is no fixed definition of "high interest savings account" so you'd need to view the disclosures. If you are opening an account at a bank and that account is insured by the government (...
user avatar
  • 20.4k
3 votes

Do High Interest Savings Account (HISA) have an associated risk?

Typically, in finance, "risk" means "variance of returns" - so an investment with high "risk" can gain or lose significant amounts of value in a time period. There are ...
user avatar
  • 114k
1 vote

Do High Interest Savings Account (HISA) have an associated risk?

If it's a true savings account, then it won't have any more risk than any other savings accounts. Not zero, but very low if your country has well-regulated banks. The higher interest accounts usually ...
user avatar
  • 8,393
0 votes

Taxes for U.S. citizen doing remote freelance work for Canadian

Generally yes, you're a US citizen so you're subject to the Federal tax laws. Florida has no income tax for individual tax payers (if you operate as a corporation, then there may be some taxation on ...
user avatar
  • 128k
0 votes

Can/should you pay the down payment for your house on a line of credit?

No. Interest paid to buy a house is not tax deductible. Interest paid to buy most stocks is tax deductible in a non-registered account. You can sell the stocks and buy the house then re-buy* stocks ...
user avatar
  • 1,592
2 votes

Can/should you pay the down payment for your house on a line of credit?

A couple of things: the interest rate on my line of credit is only ~5.5% The line of credit is a loan. The lender will have to factor in the line of credit terms when calculating how much mortgage ...
user avatar
2 votes

Why are returns on term deposits so much higher in Canada (than in other countries)?

CD-style deposits are usually bank-offered, and banks make them as they want. A major component of their decision process is how much money the bank currently wants to get in, to lend it out for ...
user avatar
  • 37k

Top 50 recent answers are included