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New rates from motus
January 28, 2022
2:19 pm
KamWest
Toronto
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Screenshot-46.png

January 28, 2022
2:42 pm
hwyc
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The screenshot was inaccurate. Those quoted current rates are for *registered* accounts. I cross checked our rates comparison chart and their website. Therefore, I am not sure the new rates are meant for (i) non-registered, (ii) registered or (iii) across the board.

January 28, 2022
3:35 pm
Loonie
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motus normally gives a slight bonus for registered, about 5 bps. Therefore, seems strange that they would promote non-registered rate, esp in RSP season.

In any event, they are not very impressive rates, but thanks for bringing it to our attention.

January 28, 2022
8:24 pm
KamWest
Toronto
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hwyc said
The screenshot was inaccurate. Those quoted current rates are for *registered* accounts. I cross checked our rates comparison chart and their website. Therefore, I am not sure the new rates are meant for (i) non-registered, (ii) registered or (iii) across the board.  

The rates are effective February 1st

I got the email right from motus so I'm sure it will be accurate by February 1st

January 29, 2022
5:37 am
Alexandre
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Link from email: View all upcoming rate changes

While not very impressive, these are changes in the right direction.

January 29, 2022
7:49 am
Loonie
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From Alexandre's link, the following rates seem definitive. Registered rates are 5 bps higher than non-registered, as usual.
Actually, what these rates are relatively good for is RIFs. Most of the FIs offeirng better rates don't offer RIFs.

1 Year Non-Redeemable GIC - Non-Registered | Registered
Current Rate: 1.55% | 1.60% New Rate: 1.70% | 1.75%

18 Month Non-Redeemable GIC - Non-Registered | Registered
Current Rate: 1.60% | 1.65% New Rate: 1.85% | 1.90%

2 Year Non-Redeemable GIC - Non-Registered | Registered
Current Rate: 1.65% | 1.70% New Rate: 1.95% | 2.00%

3 Year Non-Redeemable GIC - Non-Registered | Registered
Current Rate: 1.65% | 1.70% New Rate: 2.00% | 2.05%

4 Year Non-Redeemable GIC - Non-Registered | Registered
Current Rate: 1.65% | 1.70% New Rate: 2.10% | 2.15%

5 Year Non-Redeemable GIC - Non-Registered | Registered
Current Rate: 1.65% | 1.70% New Rate: 2.20% | 2.25%

3 Year Escalator - Registered
Current Average Yield: 1.65% New Average Yield: 2.00%

5 Year Escalator - Registered
Current Average Yield 1.65% New Average Yield: 2.20%

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