High interest rates for savings, GICs and MMFs (2018)

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Koogie
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Re: High interest rates for savings, GICs and MMFs (2018)

Post by Koogie »

AltaRed wrote: 10 Jan 2018 12:44 Even higher rates might be coming in 10-15 days time IF the BoC increases its overnight rate on Jan 17th. I see Scotia iTrade is offering 2.81% from Home Trust, Equitable Bank and Home Equity, and 2.8% from Concentra.
What is the term for the rates you have listed ??
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poedin
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Re: High interest rates for savings, GICs and MMFs (2018)

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Koogie wrote: 10 Jan 2018 16:10
AltaRed wrote: 10 Jan 2018 12:44 Even higher rates might be coming in 10-15 days time IF the BoC increases its overnight rate on Jan 17th. I see Scotia iTrade is offering 2.81% from Home Trust, Equitable Bank and Home Equity, and 2.8% from Concentra.
What is the term for the rates you have listed ??
BMOIL has the same GIC providers and rates for 5 years.
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Re: High interest rates for savings, GICs and MMFs (2018)

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Koogie wrote: 10 Jan 2018 16:10 What is the term for the rates you have listed ??
Sorry, all 5 years.
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Re: High interest rates for savings, GICs and MMFs (2018)

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Email from ZAG I have some terms coming due you must inform them 10(?) days ahead to not have GIC renew at prevailing rates. Hopefully everyone has checked their GIC's, I checked when I suffered excruciating pain when I got them but didn't check later now 2 out of 3 are not compounding, me bad, sounds like a discussion coming up.
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Re: High interest rates for savings, GICs and MMFs (2018)

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BRIAN5000 wrote: 16 Jan 2018 20:46 Email from ZAG I have some terms coming due you must inform them 10(?) days ahead to not have GIC renew at prevailing rates. Hopefully everyone has checked their GIC's, I checked when I suffered excruciating pain when I got them but didn't check later now 2 out of 3 are not compounding, me bad, sounds like a discussion coming up.
Even after giving ZAG instructions twice, once at the time of purchase and once again 14 days prior to maturity, the GIC still autorenewed at the prevailing rate. It needed a bit of hand-holding and supervision, but the whole thing got straightened out to have proceeds credited to our savings account. Kind of annoying when these things don't happen the way they are supposed to but I guess that is part of the cost of promotional rates.
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Koogie
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Re: High interest rates for savings, GICs and MMFs (2018)

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good4u wrote: 16 Jan 2018 22:55 Even after giving ZAG instructions twice, once at the time of purchase and once again 14 days prior to maturity, the GIC still autorenewed at the prevailing rate. It needed a bit of hand-holding and supervision, but the whole thing got straightened out to have proceeds credited to our savings account. Kind of annoying when these things don't happen the way they are supposed to but I guess that is part of the cost of promotional rates.
I had the same thing recently with Alterna bank. Gave them instructions prior to maturity and then had to hound them when maturity day arrived and no cheque. Took me a couple weeks after maturity to get my money out of them. I guess a lot of these small financial institutions are finding it hard to get good help.
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Re: High interest rates for savings, GICs and MMFs (2018)

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It seems to be the 'system' in banks with respect to GIC rollovers. Maybe harks back to a time when the bulk of investors were really savers and wanted their GICs rolled over into new ones (nowhere else to go when you bank at one brick and mortar institution). No reason any of this should be difficult... i.e. a simple toggle in a dialog box in their system software. At least in a brokerage account, the GIC goes straight to cash when it matures.
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Re: High interest rates for savings, GICs and MMFs (2018)

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Tangerine now paying 2.6% on a 5 year GIC.
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Re: High interest rates for savings, GICs and MMFs (2018)

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Canadian Western Bank's 5 year rate is 2.86%, but they lowered their TFSA rate slightly.
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Re: High interest rates for savings, GICs and MMFs (2018)

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Re: High interest rates for savings, GICs and MMFs (2018)

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Any idea how long after a rate hike it takes for GIC rates to go up, usually? I haven't ever watched it closely. I've made the decision that it's time to dump a substantial portion of my fixed income position in favour of a GIC ladder.

Oh and one more question, any idea why Oaken GICs aren't available on BMO IL?
Last edited by FI40 on 18 Jan 2018 15:10, edited 1 time in total.
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Re: High interest rates for savings, GICs and MMFs (2018)

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FI40 wrote: 18 Jan 2018 10:55 Any idea how long after a rate hike it takes for GIC rates to go up, usually? I haven't ever watched it closely. I've made the decision that it's time to dump a substantial portion of my fixed income position in favour of a GIC ladder.

Oh and one more question, any idea why Oaken GIC's aren't available on BMO IL?
As for the second part, I don't know why Oaken is no longer available on BMOIL but I think it had something to do with them not being able to negotiate a deal. It is too bad because I would probably look to work with a broker who offered Oaken given that their rates are some of the best out there.
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Re: High interest rates for savings, GICs and MMFs (2018)

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I believe Oaken is the retail online offering while Home Trust is the brokerage offering.
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Re: High interest rates for savings, GICs and MMFs (2018)

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AltaRed wrote: 18 Jan 2018 16:45 I believe Oaken is the retail online offering while Home Trust is the brokerage offering.
You're right. I was being sloppy in my response above as I was treating Oaken and Home Trust as one and the same but my explanation was really mean to apply to Home Trust.
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Re: High interest rates for savings, GICs and MMFs (2018)

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good4u wrote: 18 Jan 2018 17:49
AltaRed wrote: 18 Jan 2018 16:45 I believe Oaken is the retail online offering while Home Trust is the brokerage offering.
You're right. I was being sloppy in my response above as I was treating Oaken and Home Trust as one and the same but my explanation was really mean to apply to Home Trust.
IIRC, BMO IL kicked them out when Home Capital got into trouble last spring.
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Re: High interest rates for savings, GICs and MMFs (2018)

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Canadian Corporate Bond Index ETF (VCB)
https://www.vanguardcanada.ca/advisors/ ... /?overview

10pb cheaper then ZCM no volume yet almost a year? I want to use in registered account instead of GIC's.
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Re: High interest rates for savings, GICs and MMFs (2018)

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BRIAN5000 wrote: 18 Jan 2018 20:07 Canadian Corporate Bond Index ETF (VCB)
https://www.vanguardcanada.ca/advisors/ ... /?overview

10pb cheaper then ZCM no volume yet almost a year? I want to use in registered account instead of GIC's.
Wait for 30 minutes after the market opens, then put a bid inside the spread, say at 75% of the spread.
Watch it for a while, if it does not get filled, move it up a penny.
Rinse and repeat.
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Re: High interest rates for savings, GICs and MMFs (2018)

Post by Hogwild »

Today, Hubert sent me an email stating HISA account rate went up to 2.00%.

Nice.
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Re: High interest rates for savings, GICs and MMFs (2018)

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Hogwild wrote: 19 Jan 2018 12:14 Today, Hubert sent me an email stating HISA account rate went up to 2.00%.

Nice.
I noticed they raised the rates on all their GICs as well.

https://www.happysavings.ca/rates/
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Re: High interest rates for savings, GICs and MMFs (2018)

Post by northbynorthwest »

For TDDI users, the TDB8150 ISA appears to have nudged up from 0.95 to 1.1 %.
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Re: High interest rates for savings, GICs and MMFs (2018)

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northbynorthwest wrote: 20 Jan 2018 18:16 For TDDI users, the TDB8150 ISA appears to have nudged up from 0.95 to 1.1 %.
TDB8152 USD HISA as well.Up to 0.65%
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Re: High interest rates for savings, GICs and MMFs (2018)

Post by Hogwild »

NorthbyNorthwest: Do you know if that will apply to Non-TD brokerage account holders? The change isn't showing on TDAM webpage as of yet

https://www.tdassetmanagement.com/solut ... /index.jsp
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Re: High interest rates for savings, GICs and MMFs (2018)

Post by IdOp »

I now see 1.10% for TDB8150 on the link you quoted. If you continue to see less try re-loading the page, it might be cached by your browser?
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Koogie
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Re: High interest rates for savings, GICs and MMFs (2018)

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It also tends to be updated in your TDDI accounts screen before they update that page.
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Re: High interest rates for savings, GICs and MMFs (2018)

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RBF2010 on RBC Direct Investing is also 1.10% now.
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