Div. vs interest rateI live in Montreal and i do business with Desjardins(Disnat).Most of you must be doing business with banks.
Entering my stock trading account this morning, i had a message saying that interest rate
on all cash accounts had been modified as of today.
They are dropping the rate by a whopping 1.25% on every level.Desjardins is a COOP and
is acting worst than the banks.
For those doing business with CDN banks, can you let me know if there as been any change to the interest you are getting from you cash? Many thanks in advance.
My point is that the dividend paying company are even more attractive with this drop.
Prior to today's change, i was getting 3.45% on balance of $100,000 to $499,999.From
today's on i will get 2.20% that is less than half what i get with my Suncor div.
and we get a better tax treatment on div. than on interest.
As usual, staying long Suncor.
I am going on vacation this friday for 3 weeks.So you will get a break from my posts.
Credit balances
All accounts | Balance | Canadian rate | U.S. rate |
| Between $0 and $49,999 | Prime -minus 5.50% | Prime -minus 7.80% |
| Between $50,000 and $99,999 | Prime -minus 5.25% | Prime -minus 7.55% |
| Between $100,000 and $499,999 | Prime -minus 5.00% | Prime -minus 7.30% |
| $500,000 and over | Prime -minus 4.75% | Prime -minus 7.05% |