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I have about $10,000 that I want to invest for about 3-4 months. I was wondering if it would be better to put it in a TFSA account for that long or to purchase a T-bill with the money. I have room for $10,000 in my TFSA account. I will need the money at the end of the 4 months. The TD TFSA gives an annualized R.O.R of 1.25%.
 

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I believe that ING Direct has a 2% TFSA.
Yes. It was 3% a week or two ago. I'm going to open an account with them some time this week. Can't wait to start putting money in it. First, I need to put money in the best guaranteed investment that I know of: Paying off my debt.
 

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The advertising from the banks is confusing "TFSA" with what investments you hold in the TFSA. When you see "annualized ROR of 1.25% for TFSA" they really mean annualized ROR on our Hi-Interest savings acct in a TFSA.

A TFSA can hold pretty much any type of investment that an RRSP can. So there is no reason you can't open a TFSA and invest the money in a T-Bill mutual fund if you want to. Mind you T-bills aren't paying much these days. So you might want to look around and see who's currently offering the best "savings account" rate.
 
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