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Canada’s big banks are being squeezed by low interest rates and slowing demand for loans and mortgages. That means they’re more willing to compete for your business. Bank profits depend heavily on what’s known as the interest rate spread. These institutions take deposits in the form of chequing and savings accounts that pay little interest [...] The days of cheap credit are gone. Consumers are getting into debt pay-down mode and more into savings mode as the world economy starts to shift. We all desire to possess savings. We try to save money so that we can go to go away on vacation and we love to buy the great products [...] Freshly-minted Walmart Canada Bank stepped into the financial-services ring Tuesday with a single product: a rewards-based MasterCard. But the low-price retailing giant did not rule out using its weight to provide serious competition for the country’s handful of big banks through products and services such as loans, deposits and mortgages. “Walmart will always look to [...] |
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