SAVING FOR TODAY:
AUTOMATIC SAVINGS

What if you could save money and not even think about it? Our Automatic Savings Plan helps you do just that. It’s one of the easiest ways to build your investments because you don’t have to give it a second thought—your pre-set amount is automatically transferred from your chequing to your savings each month.

Here’s how it works:

1. Decide how much you’re going to put away. If you’re supposed to save 10% in total, take a look at your current saving. Are you contributing towards RRSPs, RESPs, TFSAs or pension plans? If so, these contributions count towards your 10%.For example, if you’re making $3000/month, you should save 10% or $300. Say you contribute $50 every two weeks into RRSPs. That amounts to $100. Then your automatic savings portion is calculated like so: $300-$100=$200 (or $100 every two weeks into your savings plan).

2. Arrange to have this amount taken straight off your pay cheque. Some employers offer to do this, so ask if you’re not sure. Go online or contact us and we’ll set you up with a pre-authorized savings payment plan.

3. Don’t pick just any savings account. Most financial institutions now offer competitive interest rates on savings accounts, so make sure your money grows at the fastest rate possible. By the way, our high-interest Springboard Savings® Account earns a rate that beats most other financial institutions and we charge no monthly fee*. How convenient!

A great new way to save.  The Tax-Free Savings Account (TFSA):  Starting in 2009, every Canadian resident 18 years of age or older is eligible to save or invest up to $5,000 every year in a TFSA which is regulated by the federal government. Investment income or capital gains earned in a TFSA are not taxed.  Withdrawals are also not taxed, do not impact federal income tested benefits (like Child Tax Credits), and are added back to your contribution room in the next year.  They can be made up of bonds, stocks, mutual funds, GIC or a savings account.  You can save for anything and ATB can meet all of your TFSA needs.  More Information...

4. Watch your money grow. Our Automatic Savings Plan puts your money away automatically. It’s one of the easiest ways to build your investments because you don’t have to give it a second thought—your pre-set amount is automatically transferred from your chequing to your savings each month. All you need to do is set the amount. Call us at 1-888-330-9282, click here to check out our accounts or find a branch near you with our Branch Locator— then sit back and watch your savings grow.

*Some conditions and fees may apply. Interest rate subject to change without notice.