Concentra Bank GIC rates going up 15 bps | Wyth Financial (formerly Concentra Bank) | Discussion forum

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Concentra Bank GIC rates going up 15 bps
May 13, 2020
11:03 am
Doug
British Columbia, Canada
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Hubert Financial, back to being the across the board GIC rate leader despite dropping its 1-year quarterly GIC, has been dethroned. We have a new GIC rate leader...

Concentra Bank has raised its 1-5 year GIC rates by 15 bps to 2.2%, from 2.05%.

https://concentrabank.ca

Meanwhile, Canadian Tire Bank continued to lower its 1-3 year GIC rates, with their 1 year now at 1.5%. I expect the 2-3 GIC rates to further drop, reflecting the activity in the bond markets and, before the end of May, the 4-5 year GIC rates to follow as well.

Cheers,
Doug

May 14, 2020
2:28 am
Doug
British Columbia, Canada
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Noting that the Concentra Bank GIC rates aren't updated yet, just bumping this thread with a quick note for Peter to make sure that, when he is updating it, that he notes the effective date of the rate change was, and should appear as, May 13, 2020, not May 14, 2020, assuming he updates it today. sf-cool

Cheers,
Doug

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