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Meridian GIC rate increases effective May 19

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Meridian GIC rate increases effective May 19

May 17, 2022
1:18 pm

turquoise

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April 30, 2022

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Got this a few minutes ago:
----
Meridian’s rates are changing
- here’s the latest

1 YEAR CASHABLE GIC
CURRENT RATE: 2.50%
NEW RATE: 3.00%
AS OF MAY 19, 2022

1 YEAR NON-REDEEMABLE GIC
CURRENT RATE: 2.75%
NEW RATE: 3.25%
AS OF MAY 19, 2022

18 MONTH NON-REDEEMABLE GIC
CURRENT RATE: 2.85%
NEW RATE: 3.40%
AS OF MAY 19, 2022

3 YEAR NON-REDEEMABLE GIC
CURRENT RATE: 3.40%
NEW RATE: 4.00%
AS OF MAY 19, 2022

5 YEAR NON-REDEEMABLE GIC
CURRENT RATE: 3.75%
NEW RATE: 4.20%
AS OF MAY 19, 2022

I think the 4.2% puts Meridian on top 5 year GICs. Come on Oaken, your turn. Getting beaten by Meridian is like having someone in a Buick pass your Tesla.

May 17, 2022
6:03 pm

HermanH

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That cashable 1-yr certainly beats Hubert.

May 17, 2022
6:16 pm

cgouimet

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HermanH said
That cashable 1-yr certainly beats Hubert.

Only if you keep it for the full 365 days ...

CGO

May 17, 2022
11:15 pm

RetirEd

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Remember, if you have a cashable that doesn't pay all interest to date at the full rate, you may want to split it into several deposits. That way, if you need to pull out some cash, the other deposits keep earning their full interest. (I don't remember the exact terms of all the offers.)
RetirEd

RetirEd

May 18, 2022
6:40 am

COIN

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RetirEd said
Remember, if you have a cashable that doesn't pay all interest to date at the full rate, you may want to split it into several deposits. That way, if you need to pull out some cash, the other deposits keep earning their full interest. (I don't remember the exact terms of all the offers.)
RetirEd

Tiers

Rate

0 – 90d

91 – 180d

1.50%

181 – 364d

2.25%

1 Year (Full Term)

3.00%

May 18, 2022
7:58 am

cgouimet

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COIN said

Tiers Rate

0 – 90d 0%

91 – 180d 1.50%

181 – 364d 2.25%

1 Year (Full Term) 3.00%

So, the Q1 Rate of 2.5% of the current Hubert 1Yr quarterly GIC earns better than the Meridian 1Yr cashable thru day 364 ...

CGO

May 18, 2022
8:36 am

COIN

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cgouimet said

So, the Q1 Rate of 2.5% of the current Hubert 1Yr quarterly GIC earns better than the Meridian 1Yr cashable thru day 364 ...

It seems that way. I'm also trying to find out if these Meridian rates apply only to NEW money as it appears to with the 2.75% HISA.

May 18, 2022
8:37 am

cgouimet

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COIN said

It seems that way. I'm also trying to find out if these Meridian rates apply only to NEW money as it appears to with the 2.75% HISA.

It's a GIC ...

CGO

May 19, 2022
1:26 am

MattS

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Meridians Motusbank has 5 yr GIC for registered funds at 4.25%, slightly higher than Meridian. Just noticed on their website. On non registered funds their 5 yr same at 4.20%

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