120 days = 5.40% (new money, July 17 to Sept. 30, 2023) | Page 2 | Motive Financial | Discussion forum

C

savemoresaveoften said

its a GIC / fixed deposit, so technically they can NOT lower the rate once committed. And no where does it mention its variable rate. But that last sentence does make me wonder cuz it DOES grant them the legal option to lower it !

Its not for me as I am lucky enuf to have a 5.25% Tang extension. Transfering over and lose interest over the transfer time is more or less the extra 15bps diff. So my money stay put at Tang.  

Can you check and confirm you Tangerine extension didn't change to 1%?
I see mine did. I saw the extension in an email or ad and I didn't think I have to do anything to get it. Did you have to do anything to get the extension?

And is Motive currently the highest rate for the 180 days GIC or HISA

cgouimet said

If you got an email from TNG offering you an extension of 5+%, it would have said what you needed to do to 'activate' it, if anything; extensions usually don't need anything on your part.

You may have seen a number of people here say they got extended.

You may have seen a number of people here say they didn't.

I did not get extended but my wife did.  

Found the email. It says extended till July 31.
I guess they play with this on many levels.

Did you receive an activation email for 5.25%?

New Rate ⬆ Confirmed.

The tricky part might be the calling in to complete the process. l hear their wait times (on Hold) are still quite long ... No ?

Dean

I left a message around 12:30 EST lets see how long it takes to call back. It said they will call back within 24 hours.

I've been holding for 35 minutes. Anyone try to get this GIC? How long did you have to wait on hold?

Yes, I saw that ⬆ too.

We have an improved interest rate, plus an extended deadline.

I like it when FIs get Hungry

Dean

.
That's ⬆ grounds for a 'Formal Complaint' ❗

I hope you follow through.

Dean

Finally got one today ... but it is for 4 months, not 120 days

Feb 4, 2024 is a Sunday.

Time to read T&C again ... slowly this time

Interest will be calculated including the first day of the term but excluding the last day of the term.

Eligible 120D GIC’s will be invested for 4-month terms. As a result, the term of the Eligible 120D GIC could exceed 120 days but will not exceed 123 days.

Phoned Motive today to purchase 120 days GIC. Made phone call at 09:06 AM ET. Was on hold for just 3 minutes. Purchased GIC through agent and the call lasted less than 10 minutes, including hold time.
One hour later checked my account and GIC is there, with 5.75% interest rate from Oct 6 2023 to Feb 6 2024.

butterflycharm said

Why do GICs when HISA is more flexible? and Duca goes up to 6.25% till end of Jan 2024.  

Because HISA promos can change, even if the promo period is not yet over.

HSBC HISA seems to trump all others, at the moment, with 6.35% 24-01-12