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Purpose High Interest Savings Fund (PSA $50.01)
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Global X High Interest Savings ETF (CASH $49.97)
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High Interest Savings Account ETF (HISA)
Q: Re: RESP
I would a conservative GIC or HISA for CASH remaining in an RESP account, last child about to start 2nd 4 year degree, so it will get used up in the next 4 years.
I presently use BMO investorline. Please let me know what options I have for best GIC OR HISA available , I am not against switching out to another institution i.e. wealth simple.
I would a conservative GIC or HISA for CASH remaining in an RESP account, last child about to start 2nd 4 year degree, so it will get used up in the next 4 years.
I presently use BMO investorline. Please let me know what options I have for best GIC OR HISA available , I am not against switching out to another institution i.e. wealth simple.
5i Research Answer:
GICs will continue to get investors the best rates. Rates will be in the 3.4% to 3.6% at smaller institutions. Most brokers will have access to some of these, but not all. ETFs such as PSA indicate 1.95%, and this rate will vary (not locked in for a year). CASH indicates 2.33%. HISA indicates 1.83%. We would suggest a one and two year GIC here for the plans as indicated in the question.