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Email this9:41 am
November 26, 2014
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Just noticed that Laurentian Bank has advertised doubled GIC Rates Effective April 16, 2018. See https://www.laurentianbank.ca/en/personal_banking_services/my_futur/gic.html for details. I have a GIC there from 4 years ago, and am a BC Resident, but can't confirm if it's available across the Country.
90 - 179 days 0.600
180 - 269 days 0,800
270 - 361 days 0.800
1 year (362 - 729 days) 2.200
2 years (730 - 1,079 days) 2.600
3 years (1,080 - 1,444 days) 3.000
4 years (1,445 - 1,809 days) 3.160
5 years (1,810 - 2,539 days) 3.300
11:02 am
October 21, 2013
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I have had accounts with them in Ontario in the past.
11:17 am
December 17, 2016
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Hmmm ... is this the reason for the doubling of the rates?
Laurentian Bank continues to review problem mortgages
Laurentian Bank of Canada said on Wednesday [Feb 28 2018] it was continuing to review problematic mortgages sold to an unnamed third party last year and may need to repurchase more of the loans.
[...]
Laurentian said in December that it might have to buy back about $304-million in mortgages sold to an unnamed third-party purchaser after an audit found "documentation issues and client misrepresentations."
In January, it said it had so far repurchased $180-million of the problem mortgages and might have to buy back mortgages worth $392-million in total.
11:13 am
December 12, 2015
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Their stock price has dropped and they are underperfoming, but does this matter given they are a CDIC insured bank? Their rates now are tempting.
12:00 pm
November 19, 2014
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So is their stock.
11:08 am
September 29, 2017
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NEW Laurentian Bank 16 & 26 month GICs @5.75%, available until Nov 28, 2023:
https://www.laurentianbank.ca/en/personal/offers/get-pumped-gic-event
Also, LBC Direct 24 month GIC @5.75%. No deadline specified.
https://www.lbcdigital.ca/investing/guaranteed-investment-certificates#gic-rates-table
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