Has anyone figured out how much the interest will be on the new "tax-free" High Interest account?

Question

I called HSBC and asked if they knew how much the interest would be on their new tax free savings account that is gonna start in jan 2009 and he said that they couldnt release that information until december 2008! This is the account that the gov allows up to $5000 per year tax free. Any ideas.

Answer 1

What country are you talking about? Banks are extremely competitive. If something's popular with consumers, you can bet that all the other banks will offer pretty much the same thing very quickly.  

Answer 2

No firm has really released much info on the TFSA yet.  But if I had to guess, it will be around the range of high interest savings accounts (eg: PC Financial, Manulife Bank, ING Direct).