which bank to open an short term RRSP account?

[kevin_than]

I am planning to open an RRSP account. But part of the money in this account will be used for my first house mortgage in August or September this year. Could anybody suggest me which bank to open the account? Also, after I open this account, which kind of product should I invest in, like 3 month GIC, 6 month GIC or something else?

Thanks in advance.

 

[挺傻]

哪家银行都可以。你可以放在高利息存款账户，因为一般情况短期小额（一般两万五以下）的定期存款利息不如高利息的活期账户利息高。
你如果想了解具体信息，也可以给我打电话。

 

[dkwan]

its the best if you can contribute to your RSP first(if you have the room), then take out after 90 days.

Advantages:
1) Get the possible income tax refund from your RSP contribution as towards your downpayment
2) Payback your RSP withdraw in 10 years( or shorter )
3) You can break any term of GIC in most bank with no penalty
( ex. you can contribute into 10 years GIC to get the max rate, then take out after 90 days )

Disadvantages:
1) If you do not payback your RSP withdraw each year will become your income for that year

If you need mortgage pre-approval or need a mortgage in aug or sep, lets see what i can do for you.
613.8644421 David

 

[kevin_than]

Thanks a lot, 挺傻 and David (dkwan).

挺傻, I am going to contact you for the RRSP account before the end of this month. I am busy with something else now.

David (dkwan), I am going to contact you in June or July for the mortgage stuff. For now, I have got a pre-approvement from a bank.

Thanks again.

 

[Slater]

which bank doesn't?