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Global X Active Ultra-Short Term Investment Grade Bond ETF (HFR)
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Purpose High Interest Savings Fund (PSA)
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TD Investment Savings Account (TDB8150)
Q: 2:00 PM 7/14/2019
I expect to be parking a lot of cash in our 4 TDWaterhouse accounts... two RRIFs and two TFSAs
I want to be sure the money is covered by CDIC insurance
.--------------------------------------------
The CDIC site states :
Eligible deposits are insured separately in each of seven categories:
in one name
in more than one name
in a RRSP
in a RRIF
in a TFSA
in trust
for paying taxes on mortgaged properties
.-------------------------------------------
From the CDIC website :
We insure eligible deposits at each member institution up to a maximum of $100,000 (principal and interest combined) per depositor per insured category.
Eligible deposits include:
1. Savings accounts
2. Chequing accounts
3. Term deposits, (such as GICs) with original terms to maturity of five years or less
Uninsured financial products include:
1. mutual funds (including money market funds), stocks and bonds
2. term deposits, such as GICs, with original terms to maturity greater than five years;
3. foreign currency deposits (e.g., U.S. dollars);
-------------------------------------------
The question is just what specific securities are eligible.
Do the :
1. TD "savings" account TDB8150,
2. and the Purpose High Interest Savings ETF PSA.TO
3. and the Horizons Active Floating Rate Bond ETF Common HFR.TO
all qualify or are they considered to be "Mutual Funds"
So it looks as though just <5 yr GICs, and cash sitting uninvested in these accounts actually qualify
Can you please clarify this issue and tell me just what savings vehicles actually do qualify?
Thank you.
I expect to be parking a lot of cash in our 4 TDWaterhouse accounts... two RRIFs and two TFSAs
I want to be sure the money is covered by CDIC insurance
.--------------------------------------------
The CDIC site states :
Eligible deposits are insured separately in each of seven categories:
in one name
in more than one name
in a RRSP
in a RRIF
in a TFSA
in trust
for paying taxes on mortgaged properties
.-------------------------------------------
From the CDIC website :
We insure eligible deposits at each member institution up to a maximum of $100,000 (principal and interest combined) per depositor per insured category.
Eligible deposits include:
1. Savings accounts
2. Chequing accounts
3. Term deposits, (such as GICs) with original terms to maturity of five years or less
Uninsured financial products include:
1. mutual funds (including money market funds), stocks and bonds
2. term deposits, such as GICs, with original terms to maturity greater than five years;
3. foreign currency deposits (e.g., U.S. dollars);
-------------------------------------------
The question is just what specific securities are eligible.
Do the :
1. TD "savings" account TDB8150,
2. and the Purpose High Interest Savings ETF PSA.TO
3. and the Horizons Active Floating Rate Bond ETF Common HFR.TO
all qualify or are they considered to be "Mutual Funds"
So it looks as though just <5 yr GICs, and cash sitting uninvested in these accounts actually qualify
Can you please clarify this issue and tell me just what savings vehicles actually do qualify?
Thank you.
