E-SAVINGS rate up | Peoples Trust | Discussion forum

dougjp said

Thanks for that. Especially as I had forgot about the account I opened on the Bank side. That gives me more room without exceeding CDIC limits, as I believe 'Trust' and 'Bank' each have 100k.  

True ⬆

"CDIC coverage note: Peoples Trust and Peoples Bank are both part of Peoples Group, but they provide separate CDIC coverage."

Link ➡ https://www.highinterestsavings.ca/profile/peoples-trust/

Dean

Wanderer said
Isn’t each category in PT able to hold $100,000. That’s what I read. So I have registered and non registered savings. My holdings are all together over $100,000 but not over in each category. Soon will have to get another company. Thinking PB or EQ.
I’ve been really satisfied with the service at PT. But EQ is ahead of the game in interest rates for GICs.  

Yes, there are many categories. Each is $100k insured.

I have not dealt with EQ Bank.

I've got deposits with Quebec-available Peoples Trust, Peoples Bank and Oaken. PT and PB EACH have all the categories of CDIC $100K available, for what I think adds up to $600K, or at least lots more than the $100K. (And Oaken has the same with their Home Trust and Home Bank sides.)

Those three are pretty competitive at the moment, with Peoples a week or so behind on rate changes; they seem to have a policy of minimizing rate changes and making fewer, larger ones.

Peoples is far ahead on service, though, and MUCH quicker to pick up the phone. Oaken can take most of an hour near popular deadlines like month-starts, tax season and tax-free deadlines. Neither provides parking, alas! I think Oaken still has some weekend hours - 9am-5pm EASTERN time - on SATURDAY, whereas PT does not.

Peoples doesn't charge for anything mailed to the client; Oaken does for statements so far, and I've had hints they want to move more in the direction of paper fees.

And Peoples has no TFSA savings accounts, a major PITA in portfolio management as one has to transfer to wait for a rate or to combine funds maturing at separate dates. But at the moment they still have no TFSA transfer-out fee: neither does Peoples, but they have TFSA savings accounts.

RetirEd

YES! Thanks for correcting my post before it may have misled many people. Indeed, I do have TFSA savings accounts at PT and PB.
RetirEd