Dundee Bank of Canada today announced it is increasing the interest rate paid on its C$ Investment Savings Account by 0.25% to 4.1%, effective July 11.

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%.

Dundee Bank has also raised its prime lending rate by 25 basis points to 6.25%, 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%.

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 Canadian and U.S. investment savings accounts, GICs and mortgages. Dundee Bank is a subsidiary of DundeeWealth.