DundeeWealth Inc.

DundeeWealth Inc.
Dundee Bank of Canada

Dundee Bank of Canada

July 11, 2007 09:21 ET

Dundee Bank of Canada Increases Interest Rate on C$ Investment Savings Accounts

TORONTO, ONTARIO--(Marketwire - July 11, 2007) - Dundee Bank of Canada ("Dundee Bank") (TSX:DW) today announced it is increasing the interest rate paid on its C$ Investment Savings Account by 0.25 per cent to 4.10 per cent(i), effective July 11, 2007. This rate will apply to all existing and new accounts from the first dollar invested. The Dundee US$ Investment Savings Account rate is currently 4.75 per cent(i).

In addition to high rates, features of the Dundee Bank C$ and US$ Investment Savings Accounts include:

- No fees
- Daily interest from the first dollar
- No minimums; no hidden conditions
- Convenient: available for next-day investment
- CDIC insurance-eligible (C$ version only)

Dundee Bank has also raised its prime lending rate by 25 basis points to 6.25 per cent, effective immediately. Dundee Bank's rate adjustments follow the Bank of Canada's July 10 announcement raising its target for the overnight rate by 25 basis points to 4.5 per cent.

Dundee Bank is a Schedule I Canadian Chartered Bank, providing Canadians with an alternative source of banking services offered through financial and investment advisors. Products include C$ and US$ investment savings accounts, GICs and mortgages. Dundee Bank is a subsidiary of DundeeWealth.

DundeeWealth is a Canadian owned wealth management company. Through its various subsidiaries, including Dundee Bank of Canada, a Schedule I chartered bank, DundeeWealth creates and provides investment solutions as well as capital markets and advisory services for financial advisors, institutions, corporations and foundations. DundeeWealth oversees $63.5 billion in assets under management and administration through independent financial advisors across Canada. It is listed on the Toronto Stock Exchange (TSX:DW).

(i) Annual rates subject to change without notice. Dundee US$ Investment Savings Account rate in effect April 30, 2007. Interest paid on the Dundee ISA is calculated daily on the account opening balance and paid monthly.

Contact Information

  • Myra Reisler
    Media Relations
    (416) 342-1829