Log In
Register
Home
Topic RSS
Facebook
Twitter
Email this8:06 am
February 7, 2019
Offline
Jim Sherat said
thanks for the feedback re Hubert T5s. I guess the main question with these constantly changing rates on the 1yr cashable GICs is: when is it worth the bother to cash out and re-purchase new ones?
For me that decision is next week, and the current 4.25% is more than a full percentage point higher than when I purchased them. Seems a no-brainer to take the low interest quarterly payout, on the day of, and go again?
Curious if others see things differently ?
I did exactly that on a 2.0% to 2.65% in May, 2.65% to 4.25% this week, and on a 3.25% mid Sep and another early Oct ...
| CGO |
8:24 am
April 2, 2018
Offline
cgouimet said
I did exactly that on a 2.0% to 2.65% in May, 2.65% to 4.25% this week, and on a 3.25% mid Sep and another early Oct ...
Oh, my! You are going to pay taxes through the nose! 🙂 🙂 🙂
Good for you. Hopefully H interest rates will stay as is for a while.
8:31 am
February 7, 2019
Offline
pooreva said
Oh, my! You are going to pay taxes through the nose! 🙂 🙂 🙂
Good for you. Hopefully H interest rates will stay as is for a while.
LOL ...
If I didn't want to pay taxes legally, I could stuff all the cash in Zip-Lock bags and lay those between the mattress and boxspring. But then, I'd need a stepladder so my wife can climb up ...
| CGO |
8:38 am
March 30, 2017
Offline
Jim Sherat said
thanks for the feedback re Hubert T5s. I guess the main question with these constantly changing rates on the 1yr cashable GICs is: when is it worth the bother to cash out and re-purchase new ones?
For me that decision is next week, and the current 4.25% is more than a full percentage point higher than when I purchased them. Seems a no-brainer to take the low interest quarterly payout, on the day of, and go again?
Curious if others see things differently ?
If the new rates are higher than you have currently, then 99% beneficial to "roll" to new one. Its not 100% cuz every time u roll, u are pushing fwd the 1y renew al date. There will be a time when rate will start dropping and the new renewal rate at the end of the 1y could be much lower and negate all benefits.
9:11 am
February 7, 2019
Offline
savemoresaveoften said
If the new rates are higher than you have currently, then 99% beneficial to "roll" to new one. Its not 100% cuz every time u roll, u are pushing fwd the 1y renew al date. There will be a time when rate will start dropping and the new renewal rate at the end of the 1y could be much lower and negate all benefits.
Yes, at some point some will want to move some $ from 3-Mo products to => 12Mo products ...
| CGO |
11:28 am
November 18, 2017
Offline
pooreva and cgouimet: pooreva said -
Oh, my! You are going to pay taxes through the nose!
Good for you. Hopefully H interest rates will stay as is for a while.
If one has to pay taxes at tax-filing time, one has had a free loan. A refund means you've been losing interest! Keep happily earning now and paying later.
RetirEd
RetirEd
11:34 am
February 7, 2019
Offline
RetirEd said
pooreva and cgouimet: pooreva said -Oh, my! You are going to pay taxes through the nose!
Good for you. Hopefully H interest rates will stay as is for a while.If one has to pay taxes at tax-filing time, one has had a free loan. A refund means you've been losing interest! Keep happily earning now and paying later.
RetirEd
I can't remember when I last had a refund ...
| CGO |
2:37 pm
March 17, 2018
Offline
If you take out this 1 yr GIC knowing you will need money sometime between quarters, transfer the money from the GIC at the end of the quarter before you need it into a HISA. eg. you took out GIC Jan 1 and you know you need the money May 1, then take out the money on April 1 and put in a HISA.
( Sorry in advance if someone already mentioned this )
5:37 pm
October 21, 2013
Offline
Welcome back, Briguy!
It's been a long time.
5:47 pm
March 30, 2017
Offline
cgouimet said
I can't remember when I last had a refund ...
What is a refund ??!! Lol
6:00 pm
March 17, 2018
Offline
Loonie said
Welcome back, Briguy!
It's been a long time.
Thanks ! Interest rates are starting to become more interesting again !
5:17 am
December 20, 2019
Offline
Jim Sherat said
thanks for the feedback re Hubert T5s. I guess the main question with these constantly changing rates on the 1yr cashable GICs is: when is it worth the bother to cash out and re-purchase new ones?
For me that decision is next week, and the current 4.25% is more than a full percentage point higher than when I purchased them. Seems a no-brainer to take the low interest quarterly payout, on the day of, and go again?
Curious if others see things differently ?
In a couple of days I will be moving my 3 month to a new 1 year cashable term but I usually wait for the new interest rate announcement which I see coming soon. I have yet to complete a 1 year term because the rates keep going up and each percentage point is significant.
3:56 pm
January 10, 2017
Offline
Bill said
Sounds about right, Jim, I see it the same way. Just view it like a 3-month term deposit, re-evaluate, not much bother to make a phone call.
Can one call in before the 3 months is up with instructions to cash out at the 3 month mark or must one call on the day of the 3 month mark? Also, can an early cash out be done online?
4:19 pm
August 5, 2022
Offline
Lodown said
Can one call in before the 3 months is up with instructions to cash out at the 3 month mark or must one call on the day of the 3 month mark? Also, can an early cash out be done online?
I'm not sure about calling before to cash out at a future date, but in answer to the second part of your question, no, it can not be done online. I called to cash out at the 90 day mark a couple of weeks ago and asked. The representative said you have to phone in, but that they are 'looking into making it possible to cash out online.'
5:31 pm
April 6, 2013
Offline
Yes, one can call in and arrange for a postdated cashing out of a Hubert one-year term.
I did that for one that was going to reach its three-month date on a Saturday. I couldn't call in on Saturday as Hubert no longer offers telephone service Saturdays.
5:49 pm
November 6, 2018
Offline
Lodown said
Can one call in before the 3 months is up with instructions to cash out at the 3 month mark or must one call on the day of the 3 month mark?
I have called Hubert with instructions to cash out on upcoming interest dates weeks in advance.
Norman1 said
I did that for one that was going to reach its three-month date on a Saturday. I couldn't call in on Saturday as Hubert no longer offers telephone service Saturdays.
Hubert telephone support IS available on Saturday (8:30am to 4:00pm) but not on Sunday.
6:20 pm
March 30, 2017
Offline
Its much better to put in your instruction at least a few days in advance which is also what Hubert preferred. Its better for the holder too as they will process it first thing in the morning and you see the money hit ur account before noon time (EST)
4:30 am
February 7, 2019
Offline
Norman1 said
Yes, one can call in and arrange for a postdated cashing out of a Hubert one-year term.I did that for one that was going to reach its three-month date on a Saturday. I couldn't call in on Saturday as Hubert no longer offers telephone service Saturdays.
They are open Saturdays except long weekends ...
| CGO |
6:23 am
April 6, 2013
Offline
That would explain the reminder on my calendar, for the last of week of August, to call them before the three-month mark on Saturday because they wouldn't be open on that day.
They must have been closed that Saturday of the Labour Day long weekend.
Please write your comments in the forum.