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Email this6:34 am
October 22, 2015
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Motive Financial has just increased their 60 month GIC to 2.96%.
3:30 pm
September 15, 2017
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Motive's GIC rates for 3 to 5 years will increase slightly on November 20th, including 3.02% p.a. for 5 years.
11:29 pm
February 17, 2013
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A little movement on their HISA and TFSA rates would be nice
1:17 am
October 21, 2013
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I don't see any reference to RIFs, so anyone who will need one in the next five years should ask about that before investing an RSP in GIC.
12:25 pm
February 17, 2013
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Loonie said
I don't see any reference to RIFs, so anyone who will need one in the next five years should ask about that before investing an RSP in GIC.
Finally over my 3% psychological barrier.
As of now they don't offer them.....yet. Or so they keep telling me. They've been saying they plan to one day, but they've been saying that since CDF days. I have 11 years before I have to convert, I just don't know if I want to wait that long.
One thing I find interesting in their T&C:
. If we have not received your written instructions prior to the Maturity Date, you will be deemed to have instructed us to transfer the Plan Assets to a Retirement Income Fund (“RIF”) in your name. Furthermore, you will have deemed us to act as your attorney to execute documents and make elections necessary to establish the RIF and to register such RIF under Applicable Tax Legislation.
Wonder where they send it if they don't offer RIFs?
9:25 pm
October 21, 2013
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Sounds very strange, Rick. I wouldn't be willing to give them this power.
It sounds like they're willing to transfer the RSPs to RIFs when absolutely necessary, i.e. Dec 31 of your 71st year; but they don't want to make a habit of it!
Perhaps they would refuse you an RSP GIC that would go past 71. And they would not likely accommodate someone who wants to convert earlier.
I have noticed a sluggishness on the part of several FIs to offer RIFs, although they've known about them as long as there have been RSPs. It could be that the demand was slow to develop, but I think the more pressing issue may be that RIFs are an investment with declining value, of necessity, thanks to CRA, and thus of less interest to FIs. Some of them offer lower rates for RIFs than RSPs, and some kinds of GICs are not available to RIFs.
12:46 pm
May 24, 2016
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Just seen on Achieva Financial: (the 2yr term may be one of the best out there, the other rates are so-so)
RATE
Daily Interest Savings
1.85%
1 Year Term
2.25%
2 Year Term
2.45%
3 Year Term
2.60%
4 Year Term
2.75%
5 Year Term
2.90%
(Oops, sorry, didn’t notice this thread was just about Motive)
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