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9:48 pm
February 20, 2013
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Effective Friday, April 22, our rates (both registered and non-registered) are changing, including our daily savings rate. The daily savings rate can be applied to TFSA, RRSP, and RRIF products.
New daily savings rate (effective April 22)
1.70% (previously 1.50%)
New term rates (effective April 22)
1-year term - 2.25% average (NO CHANGE)
2-year term - 2.30%
3-year term - 2.60%
4-year term - 3.10%
5-year term - 3.35%
Been waiting patiently for GIC rates to increase but not good enough. Time to move to greener pastures.
9:33 am
January 12, 2019
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.
It's sad to see how far Hubert has fallen down the GIC Chart . . .
About the only thing left that's attractive now is their HISA rate (@ 1.70%).
And I wonder if Hubert will even exist, after the three-way amalgamation is complete ('sometime' next year?). Time will tell.
- Dean
" Live Long, Healthy ... And Prosper! "
11:10 am
April 2, 2018
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Dean said
.
It's sad to see how far Hubert has fallen down the GIC Chart . . .
Yes and no. You can get better rate for 1y GIC and what are you going to do if rates go crazy but your money is locked?
I prefer flexibility of redeeming every 3 months and unlimited deposit than 'fantastic' rate locked for a year or longer.
11:42 am
September 7, 2018
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pooreva said
Dean said
.
It's sad to see how far Hubert has fallen down the GIC Chart . . .Yes and no. You can get better rate for 1y GIC and what are you going to do if rates go crazy but your money is locked?
Not sure what your definition is of "crazy" but if you believe GIC rates will go to say 10% (and mortgages and loans to say 12%), then I think a recession is possible - after which interest rates will drop very quickly to stabilize the economy - you know, the usual BoC strategy.
We know the BoC has waited too long to raise its rate and it is doing the increases far too slowly. Inflation is now in a gallop upwards - the question is how high rates need to go to stabilize inflation without pushing the economy off the cliff.
11:55 am
January 12, 2019
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pooreva said
Dean said
.
It's sad to see how far Hubert has fallen down the GIC Chart . . .Yes and no. You can get better rate for 1y GIC and what are you going to do if rates go crazy but your money is locked?
I prefer flexibility of redeeming every 3 months and unlimited deposit than 'fantastic' rate locked for a year or longer.
Don't forget that both Oaken & EQ offer 3 month GIC's @ 2.00% .
Regardless of Insurance limits, I prefer to 'Spread The Risk'.
- Dean
P.S.
And will Hubert even exist,
in a year (or so), from now ❓
" Live Long, Healthy ... And Prosper! "
12:25 pm
December 20, 2019
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12:30 pm
December 20, 2019
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1:39 pm
September 11, 2013
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5:21 pm
September 11, 2013
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4:18 am
September 29, 2017
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7:34 am
February 7, 2019
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10:06 am
October 21, 2013
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I would suggest adding 18 months but the terms less than a year are more difficult and less rewarding generally. Several FIs do offer competitive rates on 18 months. The best ones I know of right now are at Oaken, Wyth, WealthOne or through deposit brokers - all over 3%; Tang at 2.90%.
For the terms less than a year, they tend to have different parameters. Some will say, for example, six months; others say X days; and still others give a range of days. And then there is the anomalous cashable graduated one year GIC at Hubert which serves the same purpose. Further, most of these short rates are poor and I can't imagine anyone here wanting them, often less than good HISA rates. Very few that are available outside of Ontario offer rates of any significance. Perhaps the better ones could just be noted in the forum and/or in monthly newsletter, as was done with the recent Tangerine 9-month term deposit @ 2.11% (now exceeded by Oaken 270 days at 2.30%) and Hubert (2.20% average for 3 of the four quarters of a one year term).
I do track these rates. The best ones are usually Oaken or Hubert's graduated one year GIC. EQ is Ok for 3 months but I find it useless as there are no RIFs or joint GICs.
10:12 am
October 21, 2013
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11:34 am
September 29, 2017
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Peter said
Could someone start a manually updated listing of short-term and odd-term GIC rates? That would be useful to determine whether it's something worth automating.
What would that look like? I too look at them but only at key times, like when a promo rate is about to expire somewhere, comparing what is the next best move. Many times, the short term GICs are very competitive with promos, especially at the small banks and CUs. But because of the sheer number, it quickly becomes cumbersome. Hence the benefit of this site, which has automated the process for key FIs. for ≥ 12 months.
As examples (using a few week old data), EQ had 3/6/9 mos GICs at 2%, 1.6 and 1.85% (and a 15 mo at 2.5%), Oaken 1.35%, 1.4%, 1.45%, Hubert 1.95%, 2.05%, 2.15% (as part of a cashable 1 yr GIC), Tangerine had 2.11% for their 9mo (3 and 6 were very low, << 1%).
I find that the # of GICs <12 months that are interesting are fewer, but the trouble is tracking them down, because there are so many Fis on this site. Hence the rub and challenge of doing this manually. So automation would be great to find and highlight the best of them (via a threshold).
12:01 pm
September 29, 2017
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