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Email this11:13 am
April 15, 2015
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I had a good gig going with Scrivens earlier this year.The agent I dealt with lived close by & would hand deliver the paperwork same day.Unfortunately the agent no longer works there.
7:27 am
March 18, 2021
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Roy Evans said
The 5.9% rate was a very short promotion from one institution, we're sorry that it was not longer than two days.Our current rates are;
1yr 5.58%
2yr 5.57%
3yr 5.59%
5yr 5.64%https://www.scrivens.ca/investment-rates
Happy to answer any of your questions.
Merry Christmas and Happy New Year
Insurance company's GIC are usually not CDIC insured. Some insurance company's are some aren't.
7:44 am
April 15, 2015
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Scrivens this morning 5.62% for 2 year reg GIC.
7:59 am
April 6, 2013
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Hopefully, Scrivens' 5.62% for two years is more accessible than GIC Wealth's 5.62%.
GIC Wealth's 5.62% has four asterisks after it, indicating a $100,000 minimum.
8:26 am
May 20, 2016
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Is this CDIC insured?
9:35 am
December 20, 2016
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davidgeorge said
Is this CDIC insured?
5.62% 2 years is Haventree Bank, which is CDIC insured. There may be a minimum investment, so check with one of the Scrivens reps, either via the website or call the office.
Always top notch service with Scrivens from my experience.
Stephen
11:38 am
September 7, 2018
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davidgeorge said
Is this CDIC insured?
several GIC brokers are advertising such high rates with a 100K minimum - CDIC in effect covers the principal but not the interest since the interest is in excess of the 100K. That is what the GIC Brokers told me - the interest will put the investment over the CDIC limit.
guess the rate is offered for those who will take a risk (probably a very low risk) in regard to the interest portion
1:07 pm
April 15, 2015
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canadian.100 said
several GIC brokers are advertising such high rates with a 100K minimum - CDIC in effect covers the principal but not the interest since the interest is in excess of the 100K. That is what the GIC Brokers told me - the interest will put the investment over the CDIC limit.
guess the rate is offered for those who will take a risk (probably a very low risk) in regard to the interest portion
Ask if it a minimum 100K if you can split it up,if married,with spouse,or with joint account.Scrivens let me do that with Windsor Family CU & Wealth One Bank.
1:12 pm
September 7, 2018
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semi-retired said
Ask if it a minimum 100K if you can split it up,if married,with spouse,or with joint account.Scrivens let me do that with Windsor Family CU & Wealth One Bank.
Very interesting - I never thought of that. If the minimum 100K is split up then it is all covered by CDIC - 50K plus interest per person.
1:48 pm
April 15, 2015
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canadian.100 said
Very interesting - I never thought of that. If the minimum 100K is split up then it is all covered by CDIC - 50K plus interest per person.
100K per person 100K joint.Total of 300K under CDIC per each institution.
4:08 pm
September 7, 2018
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semi-retired said
100K per person 100K joint.Total of 300K under CDIC per each institution.
Yes you can do that BUT still only the Principal (100K) will be covered by CDIC in each case, not the interest, since the interest amount will push the total over the $100K in each case.
4:22 pm
February 14, 2023
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they have tiers and 85k will get you highest rates but nobody calls to confirm lol..
4:51 pm
September 7, 2018
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kesa said
they have tiers and 85k will get you highest rates but nobody calls to confirm lol..
I am a person who does call - I called 2 GIC brokers - I asked what the minimum was for the highest rate for one year - they said the highest rate required a minimum of $100K at both the brokers I called. Perhaps other brokers (you deal with) have other tiers for the "highest" rate - I only called the ones which I might deal with.
10:22 pm
October 21, 2013
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The deposit brokers have to abide by the criteria set in their contract with the issuers. If the issuer insists on 100K, then it is 100K - as was the case with MCAN recently. If the issuer is more flexible, then it can go lower, as with Haventree recently that went to at least 95K.
Thus, a phone call may help in some circumstances but not in others.
Splitting the amount between spouses would cover the insurance but not the probate tax if one died during the term. You have to weigh that risk vs risk of default and losing some or all interest. Ask for annual payout to minimize interest insurance risk.
6:58 am
April 14, 2022
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We now have 30-month GIC promotion available to clients with non registered GICs only. From now till September 29th.
Minimum deposit 20k at 5.79%
Minimum deposit 75k at 5.84%
CDIC Insured
http://www.scrivens.ca
613-236-9101
12:03 pm
February 1, 2016
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Roy Evans said
We now have 30-month GIC promotion available to clients with non registered GICs only. From now till September 29th.Minimum deposit 20k at 5.79%
Minimum deposit 75k at 5.84%CDIC Insured
http://www.scrivens.ca
613-236-9101
Scrivens' Web site is also quoting for non-registered GIC:
1-yr 5.79%
2-yr 5.84%
no minimum quoted
9:16 pm
October 21, 2013
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Who is the CDIC-insured issuer for these rates? I'm guessing it's ever-desperate WealthOne.
7:03 am
February 1, 2016
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Loonie said
Who is the CDIC-insured issuer for these rates? I'm guessing it's ever-desperate WealthOne.
That's an ever-moving target and I have not checked recently. Last time I did they were featuring:
Your Neighbourhood Credit Union (YNCU)
Windsor Family Credit Union (WFCU)
I am looking forward to doing business with Scrivens but our quest to add to our fixed income investments is over for now. We have a series of GICs maturing one per month beginning in September. Perhaps Scrivens can find a home for some of that. Rates keep improving.
Continuing interesting times that will keep us busy chasing the best investment for a while.
7:35 am
September 7, 2018
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Loonie said
Who is the CDIC-insured issuer for these rates? I'm guessing it's ever-desperate WealthOne.
Love the post - gave me a morning smile.
Yes WOBC - most people would never deposit with them without CDIC.
Now you understand why perhaps ?90% of us still deal with the big banks and those such as tangerine and simplii.
2:07 pm
October 21, 2013
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I've never had any problem understanding the carefully constructed allure of solidity that the big banks have for a lot of people.
I'm a lot wealthier and happier since I've found better alternatives though.
Please write your comments in the forum.