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Email this11:29 am
September 24, 2019
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I did get into on-line banking with them this morning. But I know with them, if you wish to get paid out annually you must phone them and they will do it manually for you or you can purchase the GIC on-line and then phone them and they will change to that instruction for you.
Anyway, I called them just to ensure that is still the case. The rep was really nice. He said if I was thinking of purchasing a GIC to wait a little bit as they haven't changed their rates since BOC announcement but they are expecting increases.
So, very nice of them.
11:56 am
January 12, 2019
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Alexandra said
. . .
. . . The rep was really nice. He said if I was thinking of purchasing a GIC to wait a little bit as they haven't changed their rates since BOC announcement but they are expecting increases.
So, very nice of them.
We can bet that's ⬆ the case for many of the FIs we deal with.
It's best to 'Wait & Watch', for now. 
- Dean
" Live Long, Healthy ... And Prosper! "
8:18 pm
April 11, 2020
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The interest rate on motive savings is increasing to 3.00% effective 18 July 2022.
6:23 am
September 7, 2018
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Fritz23 said
The interest rate on motive savings is increasing to 3.00% effective 18 July 2022.
From 2.2% to 3% you say? That would be a large increase.
7:01 am
December 20, 2016
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Fritz23 said
The interest rate on motive savings is increasing to 3.00% effective 18 July 2022.
What is the source of your information?
7:42 am
April 21, 2022
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Fritz23 said
The interest rate on motive savings is increasing to 3.00% effective 18 July 2022.
Wow, that's a significant jump! I'll have to check their website rates on Monday. Thanks for the heads-up.
9:11 am
April 20, 2019
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Thanks for the info fritz! Guess we will see come monday. How did you find this out in advance? This would be better than the recent simplii promo for me since I have prexisting funds.
11:16 am
June 8, 2016
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suburbs4life said
Thanks for the info fritz! Guess we will see come monday. How did you find this out in advance? This would be better than the recent simplii promo for me since I have prexisting funds.
Motive (& Canadian Western Bank) often post updated rates end-of-day Friday, effective for the following Monday...CWB has already posted some increases effective July 18, but I see no increases for Motive yet...I am hopeful Fritz23 is correct...
Motive GIC rates are superior to CWB, but as a side note, CWB often has 'specials'; current specials are 19, 23 & 27 months @ 4.54, 4.68, & 4.74%, effective July 18, which some may find attractive...
11:28 am
April 20, 2019
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Much appreciated BP
3:36 am
May 26, 2022
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Fritz23 said
The interest rate on motive savings is increasing to 3.00% effective 18 July 2022.
3% confirmed today by https://www.motivefinancial.com/en/rates
5:17 am
November 8, 2018
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As usual, Motive is not in a hurry to update interest rates in their mobile app, but account Web page does reflect new rate.
5:37 am
March 30, 2017
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this is great. 3% trumps Tang 2.8%, bye bye Tang.
6:18 am
January 11, 2020
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So did the gic rates get bumped up then? I don’t notice a difference from before
8:10 am
September 29, 2020
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I sure hope other financial institutions available to British Colombians will match or exceed motive financial's 3% rate. When I applied online with motive last week, they turned me down and never gave a reason. And so I'm stuck with the number two HISA leader... Accelerate financial. I feel sad that I am getting just 2.6% with accelerate financial while motive financial is giving 3%. So to make me feel better, I hope a competitor will show up soon that I can join.
9:22 am
September 24, 2019
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All of Motive's rates are up:
HISA: 3%
1yr from 4.24 to 4.3%
2yr from 4.70 to 4.75%
3yr from 4.74 to 4.8%
4yr from 4.77 to 4.92%
5yr from 4.88 to 4.95%
10:00 am
October 21, 2013
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Compared to other measures, be it inflation, BoC rate rise last week or projected BoC rate rise for next time, these increases are pathetic. It was the same last week at Peoples. They are both running at about ^.05%. Even GICWealth is unchanged today.
I don't think this is a good omen for savers.
10:18 am
February 1, 2016
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Alexandra said
All of Motive's rates are up:HISA: 3%
1yr from 4.24 to 4.3%
2yr from 4.70 to 4.75%
3yr from 4.74 to 4.8%
4yr from 4.77 to4.92%4.82%
5yr from 4.88 to 4.95%
Thanks Alexandra. Slight correction on the 4yr rate.
10:55 am
April 27, 2022
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i think these banks are betting the rate will start coming down after summer 2023
12:04 pm
September 7, 2018
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Loonie said
Compared to other measures, be it inflation, BoC rate rise last week or projected BoC rate rise for next time, these increases are pathetic. It was the same last week at Peoples. They are both running at about ^.05%. Even GICWealth is unchanged today.I don't think this is a good omen for savers.
I think you are quite correct. I believe the increases are going to be very slow in coming from here on - the "leaders" are still saying that inflation will be down to ?? 2.5% or so in ?? months from now. GIC rates of 4% to 5% are pathetic considering inflation is around 9%. "Guaranteed" loss of wealth and purchase power.
12:36 pm
September 11, 2013
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Until April Motive was paying 1.1% on HISA, 3 months later clients have seen their HISA interest income at Motive increase by close to 300%. And Tiff says inflation is about 8%. Some on here have said they're very happy with their doubled or more interest income vs inflation rate of 8-9%, especially if they're seniors with no debt, not much purchasing required, etc.
And don't forget that many fi's adjust their rates prior to BoC announcements in anticipation, not surprising there's no instant response by many fi's after the announcement. They might respond later if competitor increases force them to keep up.
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