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Email this3:00 am
November 18, 2017
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GR: Thanks. My goof. I have posted a correction there; I meant to refer to ANNUAL payouts, as I was intending to point out how annual payouts allowed an income stream at the longer-term rates on the shorter time the interest spent in the deposit. But now we hear from Moneyman2 that monthly payout is available for those 57 and over, which includes me. Wish I knew back in August!
Martster: PT's messaging is either inconsistent or still catching up on this. When I called last night, the recording said offices were open, but calling earlier today at 3pm I got a different recording which still says their offices are closed save for appointments. And a 3am call just now reported the offices are open.
I will defer to Martster, who actually visited the offices more recently than I.
RetirEd
RetirEd
7:35 am
September 15, 2017
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Moneyman2 said
If you're 57 and older, you can have the interest paid to you monthly if you want.
Are you SURE that this applies to Peoples Trust, as this thread is for Peoples Trust, or are you confusing Peoples with Motive?? Let's not muddy the water any more about Peoples paying monthly GIC interest.
12:54 pm
August 16, 2022
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1 year now 4.90% at People's Trust which moves their rate to the top now. 15 month 4.90% as well.
https://www.peoplestrust.com/en/peoples-trust/high-interest-accounts/rates/
6:32 am
September 15, 2017
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1 yr. now 5%.
source: Cannex
11:17 am
July 7, 2022
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Moneyman2 said
If you're 57 and older, you can have the interest paid to you monthly if you want.
I just confirmed with them - anyone can get the monthly interest paid to a savings account - no age requirement at all
3:37 pm
September 15, 2017
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Martster said
I just confirmed with them - anyone can get the monthly interest paid to a savings account - no age requirement at all
Martster and Moneyman2:
Again for the third time, Peoples Trust informed me today that GIC monthly interest payments are NOT available! Are both of you sure that you are referring to Peoples Trust? If so, please advise us who was your contact person at Peoples and were there any special circumstances?
7:08 pm
September 30, 2017
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Also made 2nd inquiry to Peoples today just because of #25. I'm with #26 on this one. Their GIC interest can only be paid at maturity or annually.
However, they also point out that they offer a 30 day GIC.
2:04 pm
July 7, 2022
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hwyc said
Also made 2nd inquiry to Peoples today just because of #25. I'm with #26 on this one. Their GIC interest can only be paid at maturity or annually.However, they also point out that they offer a 30 day GIC.
You are correct, sir - when I called back - they thought I wanted a 30-day GIC - so no monthly interest available on the long term products. Did press on them that it would be a nice feature - especially if they are planning on going into RIF's ..
6:58 am
September 15, 2017
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1 yr. GIC interest rate increased to 5.10%.
(source:Cannex)
8:35 am
February 1, 2016
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GR said
1 yr. GIC interest rate increased to 5.10%.(source:Cannex)
Very timely information. When I checked earlier today the rate was still 5.0%.
A call to People's Trust allowed me to take advantage of their 10-day rate guarantee and the 1-yr GIC I purchased on Oct 28 is now upgraded to 5.1%. Good service.
Thanks for posting GR!
6:16 am
September 30, 2017
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Peoples 5.20% for 1yr & 15months
... FWIW Peoples prime is 5.95%
7:02 am
December 20, 2016
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hwyc said
Peoples 5.20% for 1yr & 15months... FWIW Peoples prime is 5.95%
Peoples Trust website not yet updated to reflect increase reported at Peoples Bank.
Stephen
9:48 am
September 30, 2017
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They are putting all the emphasis into these two terms … nothing else
3:41 pm
January 9, 2011
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Nehpets said
Peoples Trust website not yet updated to reflect increase reported at Peoples Bank.
Stephen
Thanks for the update! I had one renew on Saturday @ 5.1%, phoned them and got it changed to 5.2%. No problem except the phone wait time, however it got done on the same day, so I certainly can't complain.
This was previously a 1.45% GIC, and the difference made me think that all of us have to consider the increasing effect on income and resulting taxes. Unless it isn't important to avoid quarterly tax payments by estimating tax withholdings.
"Keep your stick on the ice. Remember, I'm pulling for you. We're all in this together." - Red Green
3:29 pm
July 7, 2022
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dougjp said
Thanks for the update! I had one renew on Saturday @ 5.1%, phoned them and got it changed to 5.2%. No problem except the phone wait time, however it got done on the same day, so I certainly can't complain.
This was previously a 1.45% GIC, and the difference made me think that all of us have to consider the increasing effect on income and resulting taxes. Unless it isn't important to avoid quarterly tax payments by estimating tax withholdings.
I too had to wait on the phone... but when you have the best 1-year rate in Canada... what can we expect 🙂
5:31 pm
September 30, 2017
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The runner up is 0.10% behind. For a $10,000 deposit, it translates only to $10 more. And there's a frenzy?
5:20 am
September 30, 2017
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Maybe now's the time to a frenzy. 1-yr seen on peoplesbank.ca falling back to 5.10%.
... On the other hand, 2-5yr now flat at 5%
5:44 am
September 7, 2018
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hwyc said
Maybe now's the time to a frenzy. 1-yr seen on peoplesbank.ca falling back to 5.10%.... On the other hand, 2-5yr now flat at 5%
Had a meeting with one of my Scotia contacts yesterday - he said they believe while GIC rates might go up a bit more in the short term, they believe GIC rates have "generally" plateaued and will eventually start to come down. They also believe once interest rates do start to decline, the stock market performance will become more positive. While the predicted recession in Canada could end up being fairly mild, we may be left with a period of stubborn high inflation.
9:03 am
November 9, 2022
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Finally. 5%
Will it go higher or stay when the BOC goes up in December?
7:40 am
September 30, 2017
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FYI Peoples push 15-month rate up to 5.14% (after yesterday drop from 5.20% to 5.10%)
... that's 5.14% for your money to Feb 2024
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