Maybe you think savings accounts are boring. Vanilla. But what's so bad about vanilla? Vanilla ice cream, for instance, is awesome. If you've ever had pie, you'll agree with that. So are other totally indispensable, but not-all-that-sexy things like safety pins, underwear, chicken noodle soup, character actor Paul Giamatti...and, yes, savings accounts. When it comes to planning for your financial future (and present!) everyone could use a dose of really high-quality (and high interest) boringness.
That's why Wealthsimple is offering our very first, new financial product. Wealthsimple Smart Savings. What's so smart about it?
- Earn 1% interest, more than 15 times the average savings yield. And that’s not an “introductory rate”
- There's no minimum account size
- You get unlimited, free transfers
- It's seamlessly integrated with all your Wealthsimple accounts on our award-winning app
- Your deposits count on your way to earning Wealthsimple Black
Savings accounts are an important tool in anyone's financial wellness arsenal. Any investment in any financial market, even the most conservative ones, will fluctuate in value from day to day. And there should be some money that you keep in a safe harbour, away from all market fluctuations. Savings accounts keep that money safe, but unlike your chequing account, they can still earn a decent interest rate. So if you need to put money aside for something specific, like a down payment on a house or a car, this year’s tax payments, or for the three months of expenses you should absolutely keep on hand in case of an emergency, a savings account is perfect.
Smart Savings accounts of any size can be fully insured. And we’ll never assess any extra fees on funds in your savings account. So when you need your money, it will be there — all of it, plus a little bit more. Which is the whole point of putting it in our Smart Savings in the first place.
So do something vanilla today, and put your money somewhere Smart.