Rate drop has started | Motive Financial | Discussion forum | Canadian High Interest Savings Bank Accounts

Please consider registering
guest

Home

Discussion forum
sp_ArrowRight

Motive Financial
sp_ArrowRight

Rate drop has started

Topic RSS

Rate drop has started

July 17, 2015
8:32 am

taxed

Canada

Member

Members

Forum Posts: 9

Member Since:
May 6, 2015

Offline

Heads up everyone, CDF has dropped their high interest to 1.5% as of 7/17.

Wonder if and when the others will follow suit

July 17, 2015
8:49 am

Peter

Admin

Forum Posts: 1441

Member Since:
May 15, 2007

Offline

Its savings account is down from 1.75% (to 1.50% as taxed noted). Its TFSA is down from 1.75% to 1.60%.

July 17, 2015
10:14 am

Bryan Stro

Kamloops

Member

Members

Forum Posts: 7

Member Since:
November 14, 2012

Offline

I can report that, that thus far, People's Trust, Hubert Financial, Maxa Financial, and Achieva Financial have all maintained their rates on 2 year GICs. (In the past, Canadian Direct Financial and Canadian Western Bank have always been hyper quick to lower their rates when the Bank of Canada lowers. It's to be expected.) If there is any good news in this, maybe the Bank of Canada is becoming irrelevant and the market is beginning to set rates.

July 20, 2015
9:47 am

Bear

Member

Members

Forum Posts: 12

Member Since:
March 20, 2015

Offline

Outlook Financial savings rate dropped to 1.70%. I wonder who else will follow?

July 20, 2015
11:22 am

james1900

Member

Members

Forum Posts: 181

Member Since:
June 24, 2014

Offline

Everybody will follow, sooner or later. To make depositors richer is never their intention. If paying less but attracting same depositors, they will definitely go this way.

All RSS