Italy dealt a surprise blow to its banks and sent shockwaves across the sector in Europe by setting a one-off 40% tax on profits reaped from higher interest rates, after reprimanding lenders for failing to reward deposits.

  • deltatux :mapleleaf:@mstdn.ca
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    11 months ago

    @mxwarp This is just a promo rate, all the Big Banks & their subsidiaries do this. They boost the rate for 3-4 months and then you earn their base crappy rate thereafter.

    Scotiabank, Tangerine, Simplii & etc. have been doing this for years.

    The options in the link I provided previously are non-promo rates.

    Other options incl. fintechs like WealthSimple offer 4.5% if you have $100k deposited or invested with them, or via money market funds or investment savings account which all pay >4%.