Canadian Capitalist

Altamira is providing new competition in the high-interest savings accounts area with its CashPerformer product. The interest rate offered is 2.4%, which is the same as ING Direct and AMEX Bank, but not as high as that offered by ICICI Bank (2.75%) or Achieve Financial (2.85%). Money can be transferred electronically between the chequing account and Altamira’s savings account, similar to ING Direct. It appears to me that Altamira is offering a me-too product that will probably only appeal to people who want to park their cash temporarily and later want to purchase an Altamira mutual fund.

Tags: Saving

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