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Nasty GIC rates
March 11, 2020
9:10 am
Vatox
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The rates are awful! And I thought Tang was bad!sf-yell

March 11, 2020
9:30 am
Doug
British Columbia, Canada
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Thanks, Vatox. As low as they are, they're still about 20 bps better than CIBC's GIC rates. These could be indicative of where Tangerine's GIC rates are headed directionally. And, perhaps more importantly, they're also not as bad as the current brokerage channel GIC rates available through Scotia iTRADE, which I've shared in this thread. sf-cool

Cheers,
Doug

March 11, 2020
12:57 pm
Oscar
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Just noticed this RBC savings account with tiered rate so I tried to make sense of it

https://www.rbcroyalbank.com/rates/persacct.html#enhancedsavings

RBC Enhanced Savings account as of March 10 2020
251000.00 Balance
1000.00 x .150% = 1.50
99999.99 x .150% =150.00
49999.99 x .050% = 25.00
39999.99 x .025% = 10.00
34999.99 x .010% = 3.50
14999.99 x .005% = 0.75
4999.99 x .001% = 0.05
4999.99 x .0000 = 0.00
= 190.80/annum
=0.00076 or 0.076%

March 11, 2020
1:21 pm
AltaRed
BC Interior
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Central bank rates could be headed to zero so these rates may look stupendous in a month or two.

March 11, 2020
1:35 pm
toto
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I caved and got the 2.1 percent term at tangerine. I'm more concerned about insuring it up than anything else.
I would have grabbed the 5 year at Oaken before they change rates but that would have put me over cdic limit.

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