One of my New Year's Resolutions was to open a Tax Free Savings Account (TFSAs) and start making regular contributions. ING bank, http://www.ingdirect.ca/ is currently offering 3% on its TFSAs with no minimum deposit or fees to withdraw or transfer. Compare this with some of the traditional banks that are paying 1% with a minimum deposit of $1,000.
As an added bonus, if you are a new client to ING, you will receive a $25 bonus for any deposit of $100 or more (limit one bonus per new client). When was the last time you earned a guaranteed 25% rate of return for a $100 deposit*.
If you already are an ING account holder, you can benefit by referring your friends and family to this great deal by quoting your Orange Key found on the front page of your statement. If you are not an ING account holder, use my Orange Key 25536660S1 and we both can be rewarded for you earning a guaranteed 25% rate of return.
Why not take this a little further and start your automatic savings program. The hardest part is to initiate the action, because without any action there are no results.
Happy Savings.
* only the $25 bonus was used to calculate the rate of return as this is paid immediately and there is no time limit on how long the funds have to be deposited. ING's TFSA investment savings rate is subject to change and is not guaranteed to be 3% for the entire year.
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