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Email this6:23 am
April 21, 2022
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The base interest rate floats and moves, or follows movements by the BoC. The promotional rate is fixed for 120 days. The most recent move by the BoC was on February 12th, where they lowered by 0.25%.
7:51 am
February 6, 2019
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After checking https://www.highinterestsavings.ca/profile/motive-financial/savings-account-rate-history/ it turns out that their promotional offer of 4.75% lasted only 4 days after Feb. 14 (when the promotion ended).
Since Feb. 18, 2025 the total rate is indeed 4.5% because the base rate went down from 2.75% to 2.5%.
I was aware that the 4.75% rate was not guaranteed for 120 days ... I was just hoping that it will last for more than 4 days after the promotion ended.
Even at 4.5% it is still competitive (but certainly not the best out there).
I will move funds accordingly.
10:48 am
October 27, 2020
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rk said
Anyone else signed up for their promo (which ended on Feb. 14) offering 4.75% (2.5% base + 2.25% bonus) for 120 days?
I did.
When you log in, they do not show the total interest on the account (unlike other FIs, including Manulife Bank). They only show the base interest, which is 2.5%.
When I called the CSR they said that is 'normal', but I will see the promo interest posted on top of the base interest. That is accurate, I can see the two interest amounts posted today (March 1st)... only one problem: the bonus interest seems to be 2% instead of 2.25% , which brings the total down to 4.5% instead of the advertised 4.75%
(hope my math is correct)
Anyone else has noticed this?
Is this promotion for new clients only?
11:03 am
April 6, 2013
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Yes, those were new Motive client offers. See previous discussion New client deposit earn 5.35 (formerly 5.75%) for 120 days.
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