GIC brokers | GIC discussions | Discussion forum

You should read previous threads on this subject.

FYI, when you buy a GIC through a deposit broker, you are not making out your cheque to the deposit broker but to the financial institution which is offering the GIC (or to yourself, for the financial institution to cash and put in your account). The insurance is exactly the same as if you'd bought directly from the issuer.

I have used deposit brokers on and off for many years and have never had any issues with them. In fact, I find them a convenience.

Another voice of praise for Scrivens, having received top notch service over the years, with honesty and integrity. If the offer is better than can be had directly with an FI, I would have no hesitation to deal with Scrivens or any of the deposit brokers often discussed on the Forum.

AllanB said
Gic broker posters please list the top rate FI name. It matters even when the same FI is at the top of the list repeatedly. It's inconvenient to email them every other day for the answer.  

It's equally inconvenient for the poster to do this. Be grateful for the help you are getting.
Anybody who needs to know can inquire, and post the answer.

If folks require daily updates, can't they subscribe to a GIC broker's e-mail update mailing list? I don't do it, myself, but I think I saw subscription offerings on some broker sites.

Those daily emails don't necessarily give you the name of the issuer.
FiscalAgents displays them on its website but they are not always the best rates.
https://www.fiscalagents.com/index.php/rates/rates-guaranteed-investment-certificates/

Also found this.

Alexandra said
Does anyone know what bank is offering 4.17% for a 1yrGIC through GIC Direct?

If not, I'll phone them tomorrow to see. Thanks.  

I'll let everyone know tomorrow if no response here.

gicjunkie said

Looks like Wealth One Bank

https://www.gicdirect.com/images/documents/ratesheet.pdf  

Thanks. I'm maxed out with Wealth One. We'll see what next week brings. I'm getting nervous. Probably for no reason.

Norman1 noted that GICs might be issued 'in-nominee-name', thereby possibly extending the CDIC limits.

https://www.highinterestsavings.ca/forum/gic/cidc-limitsgics-within-rrsp-brokerage-acct/#p74307

If you decide to look into this one, please let me know, because I am also up to my CDIC limit with WealthOne. If I can buy some more GIC in-nominee-name, then I would be happy to buy some more with a broker.

canadian.100 said
Would anyone know which GIC Broker is offering the One Year @ 4.5%? GIC Wealth indicates min purchase of 50K but they do not list the names of the FIs and their rates, nor does GIC Direct. Some Brokers like Fiscal in Oakville do list the FI names and rates but the 4.5% is not there. Perhaps there is another GIC Broker which itemizes the 4.5% and the FI it comes from. If you have that link, that would be appreciated.
Thanks.  

Monarch Wealth is also offering today 4.50% for 1 year, according to their phone hotline, and their minimum required is usually less than GIC Wealth. As issuing FI is not stated, you probably need to phone GIC broker of your choice, unless someone else has the answer.