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Email this10:49 am
April 27, 2017
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Hello,
With interest rates going down in rapid succession, I am looking for other places to put money in for HISA and GICs. I already have Tangerine, Oaken, Motive, EQB and Peoples Trust, and am considering other places offering higher GIC rates based on the GIC comparison table on this site, like Wealth One, Maxa, Outlook, Saven, Achieva etc.
I would appreciate your comments about any of the alternatives, including ease of new account application (online instantly or paper with long or short waiting period), ease of setting external links (online instantaneous or need to send in cheque and wait), fees (any limits on fund transfers out etc) and hold periods (is a hold required before funds transferred in can be used to purchase a GIC, etc)? (Or anything else you can think of :-).)
Thank you in advance for all your comments!
11:11 am
September 28, 2023
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With the BoC's move this morning, it is a race to the bottom right now.
11:18 am
January 12, 2019
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FWIW . . .
Like many others, I have chosen to stay Completely Away from W1BoC, until the federal government finishes Sterilizing that place of the Communist Dictatorship operatives who are involved there.
It's like banking with the Devil ❗ 
- Dean
" Live Long, Healthy ... And Prosper! "
12:19 pm
December 22, 2022
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Index funds will start to look attractive on any significant pullback. Not sure if that will come any time soon with continued interest rates cuts fuelling the rally.
12:40 pm
April 27, 2017
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I am a fan of Wealthsimple. Very competitive interest rates, particularly if you have a status (e.g. "Generation"). Very easy to open an account, great interface, easy to move money in and out and you get a bunch of perks.
2:47 pm
May 28, 2013
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Is anyone considering bond funds? The adage is that as interest rates come down, bond funds make gains.
If so, any favourites?
3:06 pm
April 27, 2017
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rhvic said
Is anyone considering bond funds? The adage is that as interest rates come down, bond funds make gains.If so, any favourites?
I hold bond funds. You need to be careful; even if BoC rates go down, this only applies to overnight rates. Bond yields might go in the opposite direction at the exact same time as expectations for inflation might increase as BoC implements steep cuts. Indeed that’s what happened today.
Lately I have been focusing on short duration bonds, like VSC and ZST to reduce this risk.
7:32 am
September 11, 2013
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topgoat, I've had good experience with Wealth One, just fyi, easy to deal with and transact, though never exceed CDIC limits with them.
1:48 pm
December 7, 2023
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I do not have an idea where to move my money in order to get good interest rate, I may buy bank stocks for dividends, dividend rates are good but currently prices of bank stocks are at peak, will wait and buy when prices drop.
CIBC Flexible GIC in CIBC EDGE account, rate is 3.35% today, i believe rate will be dropped in a few of days. You can redeem this GIC anytime but no interest is paid if you sell this GIC in 30 days. I think it is good option, it locks the rate in 1 year.
1:59 pm
January 12, 2019
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.
Usephrase ⬆
TD stocks have dropped Considerably in the last few days, due to the troubles they recently had in the States (now over). 'Now' might be a good entry point ... and that Sweet Dividend pays you to wait for when their stock goes back up again.
If I didn't own TD stock already, I'd be buying in right now.
- Dean
" Live Long, Healthy ... And Prosper! "
2:10 pm
December 7, 2023
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Dean said
.
Usephrase ⬆TD stocks have dropped Considerably in the last few days, due to the troubles they recently had in the States (now over). 'Now' might be a good entry point ... and that Sweet Dividend pays you to wait for when their stock goes back up again.
If I didn't own TD stock already, I'd be buying in right now.
Dean
I consider TD.TSX, I do not know too much about investment, I worry about that TD stock price may drop on Dec 5 of Earning Date because I guess TD will pay the punish money and net profit may miss the estimated. I will watch TD.TSX, I will buy it at $ 72 or $75. Dividend rate is very good currently.
RY.TSX has less risk than TD.TSX. but RY price is so higher now.
2:28 pm
April 27, 2017
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How is TD stock an “alternative” to tangerine HISA exactly?
4:02 pm
December 1, 2016
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mordko said
How is TD stock an “alternative” to tangerine HISA exactly?
I think he means because TD stock is selling at a "discount" at the moment, coupled with their decent dividend yield, makes it a worthy alternative, at least at the moment.
4:57 pm
April 27, 2017
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moneyhelp said
I think he means because TD stock is selling at a "discount" at the moment, coupled with their decent dividend yield, makes it a worthy alternative, at least at the moment.
All shares can go down as well as up but TD has a particularly good chance of delivering a lot more pain to its shareholders. All we know is that the bank has been mismanaged and is a mess and that it won’t be allowed to fail. We also know that the highly profitable Canadian brokerage is finally getting strong competition and is forced to bribe customers big time. We don’t know if the management can turn it all around quickly or if there is more bad news and pain on the horizon.
Suggesting stocks as an alternative to cash seems pretty dodgy in all circumstances but kinda crazy in this particular case.
Please write your comments in the forum.