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Compound Interest

The Value of a Consistently High Interest Rate

by Achieva Financial
Feb February 19

Online banks, especially new entrants to the market, often offer high introductory rates to attract interest.  But these rates are only temporary and clients are often disappointed with the lower rates being offered once they have moved their funds.  A recent article in the Globe and Mail suggests that, “an easier to follow regimen is to find a bank that consistently offers competitive rates and stick with them”.  And that is what we have been doing at Achieva Financial for more than 20 years. We are the longest standing online savings solution in Canada.

Other financial institutions and online banks often compete with each other by offering rate promotions for a limited time or to the select few that they have directly targeted based on set criteria. Savers and investors move their money from one institution to the other to capture a slightly higher rate.  This requires effort for what is sometimes a minor difference in return.

Since the beginning, Achieva has offered our customers highly competitive interest rates, securely and without hassle, allowing you to grow your savings with confidence.  Instead of teaser rates or promotions, everyone gets our best rate, always, on every dollar you save with us.

In addition to our competitive rates, there are no monthly fees for an Achieva account and you receive one free outgoing direct transfer, cheque or pre-authorized debit per month.  It is easy to open an account with Achieva either online or with our mobile app.

Learn more about Achieva’s savings accounts.