Home Equity Bank | GIC discussions | Discussion forum

From EquityBank home page:

HomeEquity Bank offers Guaranteed Investment Certificates to investors across Canada through a network of independent deposit brokers. Contact your investment advisor to purchase a HomeEquity Bank GIC. HomeEquity Bank's GICs are eligible for deposit insurance protection from CDIC for up to $100,000.
Terms range from 1 to 5 years.
The GICs are not redeemable prior to maturity except in the case of death of a registered owner.
Interest rate is fixed for the length of the term chosen.
Unless otherwise stated, all rates quoted are per annum.
Interest is calculated daily and is paid either monthly, quarterly, semi-annually or annually by direct deposit or alternatively, interest can be compounded annually and paid at maturity.

COIN said
How safe are they beyond the $100,000 CDIC.

After living through Home Trust and Pace CU, I am understandably cautious.  

not worth the risk.

With BoC expected to go multiple clips of 50bps next few meetings, 5y will need to go a bit higher in my mind.

Norman1 said
No DBRS debt rating for HomeEquity Bank. Unrated.

Unknown risk for uninsured deposits over $100,000 CDIC limit.  

Thanks. Kurt Browning is pushing their reverse mortgages in TV commercials.
https://www.homeequitybank.ca/media/news/homeequity-bank-announces-partnership-with-kurt-browning/