Analysis
Overall Assessment of Banks
The interesting facts about the two banks are that they have many similarities. For example, TD and CIBC banks all have the same categories for investments (RESPs, GICs, TFSAs), the loans (personal loan, car loan), and the line of credits (personal line of credit and home line of credit).
The information of the two banks were easy to find. Since they were all listed in categories, and if you tap on one of them, it will show you a list of items in that category.
The rates are competitive because both banks have five-out- five ratings, and both banks have positive comments, so this makes it hard to pick which bank is the best.
The Future of Financial Services
The future of the two banks would be to create new and better products and services that will increase their profit. This way they can either expand to other countries or they can buy other banks in Canada or outside of Canada.
The banks were not the same when parents were teenagers because the banks were small and they were not as successful as today's banks. For example, there were limited products and services because they don't have enough money to afford it. In addition, the technologies have played a big role over the years. An example is that, back then, people would go to the bank to submit their chaques. But now, technologies have made a big improvement that people don't even need to go to the bank to deposit their cheques, they can just submit it online. As well as, back then, for the loan, the bank could lend you only $3,000, and now, they can lend you $30,000 because they have been growing over the years and are becoming more successful than before.
Rates and reviews of TD Bank
Rates and Reviews of CIBC Bank
