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Email this12:40 pm
August 4, 2010
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I had some info lying around, so I did a quick and dirty chart of what GIC issuers are available from certain brokerages. I don't have any info on RBCDI and NBDB, and didn't bother trying to check any of other brokerages. My assumption is that aside from occasional small bumps to their own "home team" issuers, the rates in the brokerage channel for a particular issue are going to be the same at each brokerage.
I think rates are $5000 minimums for the most part, although I think CIBC wants $10K for non-registered accounts. For some issuers (MCAN, Haventree) you may be able to do better by going to them directly at a higher minimum, and generally some that have an online brand (Home Trust/Bank and Oaken, or Equitable Bank and EQ) may provide rates or promotions directly on their branded website to their retail customers that are better than they offer in the brokerage channel.
Just posting this here for curiosity's sake - most of the brokerages (except for Questrade's PDF page) lock their GIC rates behind login, so I have no way to retrieve this stuff.
1:11 pm
October 27, 2013
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Interesting list. I might add that over the years, I have noticed the list of issuers does change a little from time to time, at least at iTrade which is the only place I have bought GICs (in the past). So it is not set in stone.
It is also my observation that some of the big bank brokerages will only act as agent for CDIC insured issuers. BMOIL specifically notes that Vancity GICs are not CDIC insured. BMOIL list of issuers also varies a bit depending on term - 33 for 1 year, 26 for 5 year.
Some brokerages permit purchases as low as $1000 depending on issuer. BMOIL has a $5000 minimum. I have never bought a GIC at BMO IL Scotia is offline at the moment so could not validate.
RBC DI minimums vary depending on term, as low as $3500 for 5 year and as high as $20,000 minimum for 1 year and even some variations from those for some issuers. Dog's breakfast. Registered accounts have $3500 minimum. RBC DI currently has 30 issuers. Spouse has bought a few GICs over the years in her RRIF so that is all I am familar with at RBC DI.
A bit of an amoeba it seems.
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