Maximizing Your Savings with Motive Savvy Savings Account

Maximizing Your Savings with Motive Savvy Savings Account

Are you looking for a way to enhance your savings game? Choosing the right savings account can make all the difference in achieving your financial goals. In this article, we will explore the Motive Savvy Savings Account and how it can help you maximize your savings.

Introduction to Motive Savvy Savings Account

Motive Savvy Savings Account is a high-yield savings account offered by Motive Financial, a subsidiary of Canadian Western Bank. It enables you to earn a competitive interest rate on your savings, significantly higher than traditional savings accounts, with no minimum balance requirement or monthly fees.

Benefits of Motive Savvy Savings Account

The following features of Motive Savvy Savings Account make it an attractive option for smart savers:

Competitive Interest Rates

Motive Savvy Savings Account offers a competitive interest rate of up to 1.25%, which is among the highest in Canada. The interest rate on your savings remains unchanged even if the Bank of Canada raises or lowers its policy rate. The interest is compounded monthly, and you have the option to reinvest your interest payments.

No Fees or Service Charges

With Motive Savvy Savings Account, there are no monthly fees, no transaction fees, and no minimum balance requirements. You can make unlimited free transfers to and from your account using online banking or smartphone app.

Easy Access to Funds

You can access your savings anytime you want, 365 days a year, through online banking or smartphone app. You can transfer funds to and from other banks’ accounts using the Interac e-Transfer service, which is free of charge. Your funds are insured up to $100,000 by the Canada Deposit Insurance Corporation (CDIC).

Who Should Consider Motive Savvy Savings Account

Motive Savvy Savings Account is a great choice for anyone who wants to earn a higher interest rate on their savings while keeping their funds accessible. It is especially suitable for those who:

– Are looking for a short-term savings plan for a specific goal, such as a down payment on a house or a trip.
– Want to diversify their savings portfolio and earn a better return than what traditional savings accounts offer.
– Are concerned about fees and transaction charges that eat into their savings.

Conclusion

Motive Savvy Savings Account is a high-yield savings account that provides a secure and flexible option to maximize your savings. Its competitive interest rates, no fees or balance requirements, and easy access to funds make it an attractive choice for anyone who wants to grow their savings. By choosing Motive Savvy Savings Account, you can take a significant step toward achieving your financial goals.