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

Banking and Saving strategies, maximizing interest rates, budgeting, GICs, HISAs.
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Koogie
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Re: High interest rates for savings, GICs and MMFs (2018)

Post by Koogie »

Might it be suggested it was on the side of your hardware/software and not their website ? It took me all of 30 seconds today.
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Re: High interest rates for savings, GICs and MMFs (2018)

Post by IdOp »

Koogie wrote: 01 Feb 2018 16:44 Might it be suggested it was on the side of your hardware/software and not their website ? It took me all of 30 seconds today.
The wait-time I experienced for the T5 to display in the browser (over 20 minutes on dial-up) was due to the slow Internet connection. This suggests about 5-6 MB of data was sent. That seems like a lot for the purpose. I'd be interested how that compares to the size of the T5 PDF you or others were able to download?

The hardware I believe is adequate for the job. Certainly the CPU didn't seem to be much strained by the excercise.

As for software, that's always a possible problem especially where the web is concerned. The website, browser and the OS resources it uses all have to work together. Maybe EQ's happy enough if their tests work with IE and Chrome? Generally their website works adequately for me (using SeaMonkey or FireFox on Linux) although it can be a bit quirky(*). I've been able to download statements fine; it'd be nice if the T5 could just be downloaded without having to do the in-browser display of it. That's a website functionality-design issue though, not a "bug" per se.

(*) Example of quirk: To log out, you hover the mouse over your name at the upper right. A menu item "Logout" appears below and you move the mouse to it and click. I find that often by the time I move the mouse down to the Logout item, it has disappeared. There's only a narrow invisible horizontal band the mouse can be in for Logout to remain.
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Re: High interest rates for savings, GICs and MMFs (2018)

Post by poedin »

poedin wrote: 29 Jan 2018 19:38
AltaRed wrote: 22 Jan 2018 19:10 At iTrade, DYN500 (CAD) is now 1.05% and DYN400 (USD) is now 0.7%. Appears everyone is creeping upward.
...no rush at BMOIL with their HISA AAT770 still at 0.95%. Vaguely recall that they were slower with a rate increase the last time...
BMOIL AAT770 now 1.10% USD version 0.70%.
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Re: High interest rates for savings, GICs and MMFs (2018)

Post by ertyu »

poedin wrote: 07 Feb 2018 23:25 BMOIL AAT770 now 1.10% USD version 0.70%.
Where do you lookup that rate?
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Pickles
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Re: High interest rates for savings, GICs and MMFs (2018)

Post by Pickles »

ertyu wrote: 08 Feb 2018 11:25
poedin wrote: 07 Feb 2018 23:25 BMOIL AAT770 now 1.10% USD version 0.70%.
Where do you lookup that rate?
In your bmoil account menu under Trading ---> Fixed Income ---> High interest savings
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Re: High interest rates for savings, GICs and MMFs (2018)

Post by LAJ »

Hubert financial raises rates on some savings products.

Hello Hubert Members,

Our daily interest rate is going up again and this time, we are introducing a limited-time rate special as well.

High-interest savings: 2.10%
2-year term: 2.75%
4-year term: 3.25%

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

Post by poedin »

BMOIL & TDDI now offering 5 year GICs @ 3.02%, compared to 2.05% a year ago.
It's been a while since the brokerages' cache of these fixed income products have yielded annual payments exceeding 3%. :thumbsup:
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Re: High interest rates for savings, GICs and MMFs (2018)

Post by poedin »

Oaken's new rates:
1yr 2.75 (was 2.50)
1.5yr 3.00 (2.75) versus brokerages :!:
2yr 3.10 (2.85)
3yr 3.15 (2.95)
4yr 3.20 (3.05)
5yr remains @3.25
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Re: High interest rates for savings, GICs and MMFs (2018)

Post by AltaRed »

poedin wrote: 16 Feb 2018 08:52 BMOIL & TDDI now offering 5 year GICs @ 3.02%, compared to 2.05% a year ago.
It's been a while since the brokerages' cache of these fixed income products have yielded annual payments exceeding 3%. :thumbsup:
:thumbsup: Good news indeed for the next rung of FI maturing relatively soon in my RRSP.
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Re: High interest rates for savings, GICs and MMFs (2018)

Post by IdOp »

RBCDI is also showing Home Trust and HomEquity Bank 5-year GICs @ 3.03 %.

Next week it will be time to evacuate Simplii's HISA. I plan to move part of the proceeds to such a GIC if still available.
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Re: High interest rates for savings, GICs and MMFs (2018)

Post by SoninlawofGus »

All this going on while Peoples Trust rates have lagged. At one time, they were hard to beat. I have been moving funds away from them and likely will continue to do so.
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Re: High interest rates for savings, GICs and MMFs (2018)

Post by good4u »

SoninlawofGus wrote: 16 Feb 2018 15:42 All this going on while Peoples Trust rates have lagged. At one time, they were hard to beat. I have been moving funds away from them and likely will continue to do so.
Something must be wrong with Peoples' website because their rates are a lot lower than they were a couple of days ago. For example 5year Gic is now only 2.25%.
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Re: High interest rates for savings, GICs and MMFs (2018)

Post by deaddog »

The Ideal Savings Special 2.50%, guaranteed to April 30, 2018, has been extended to be guaranteed to June 30, 2018.
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Re: High interest rates for savings, GICs and MMFs (2018)

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If it's for long term investment, all CDIC insured, all non- registered how much do people feel comfortable having at one financial institution and would there be a difference say between BNS and Oaken?

BNS without trying too hard (two depostors) you can get to $1.2 million at Oaken with three depositors you can get to $1.1 million.

Half percent better at Oaken on a few $100,000, alternatives could be Motive or straight into VAB. (VAB, never worry about renewals, monthly payments, non-reg taxed higher)
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Re: High interest rates for savings, GICs and MMFs (2018)

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Even though it is possible to use Home Bank and Home Trust at Oaken so a couple can each invest $200,000 in GICs at Oaken (I'm ignoring TFSAs), if one partner dies, the survivor is then well over the CDIC limit. Does anyone here think that's worth worrying about? Or does the survivor just cash in the deceased's GICs and move them elsewhere?
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Re: High interest rates for savings, GICs and MMFs (2018)

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And I left out the joint GICs that a couple could own in both Home Trust and Home Bank.
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Re: High interest rates for savings, GICs and MMFs (2018)

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This seems a bit of a theoretical rather than realistic scenario, but I don't think I would not worry about the excessive exposure for a limited period of time.

However, the point really might be - why would a couple want to be that exposed to one "alternative lending" institution in the first place, CDIC insurance or not?
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Re: High interest rates for savings, GICs and MMFs (2018)

Post by SoninlawofGus »

Inquiring Mind wrote: 18 Feb 2018 08:23 Even though it is possible to use Home Bank and Home Trust at Oaken so a couple can each invest $200,000 in GICs at Oaken (I'm ignoring TFSAs), if one partner dies, the survivor is then well over the CDIC limit. Does anyone here think that's worth worrying about? Or does the survivor just cash in the deceased's GICs and move them elsewhere?
Cash in would make sense, since GICs are redeemable at death. Interestingly, when explaining redemption upon death, Oaken's Terms and Conditions use the phrase "if the original term of the Investment was for less than five (5) years," implying that five-year GICs are not redeemable, which does not make sense to me. By comparison, Peoples Trust and Scotiaback just says their GICs are redeemable upon death, without the extra language.
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Re: High interest rates for savings, GICs and MMFs (2018)

Post by BRIAN5000 »

AltaRed wrote: 18 Feb 2018 10:22 This seems a bit of a theoretical rather than realistic scenario, but I don't think I would not worry about the excessive exposure for a limited period of time.

However, the point really might be - why would a couple want to be that exposed to one "alternative lending" institution in the first place, CDIC insurance or not?
Lots of people in our investment club are well into 7 digits (9) in GIC's and trying to get the best rates they can while considering safety of principle.
A double negative?
Five years ago BNS and Peoples had competitive rates now its Oaken's turn I wonder how long that will last, Zag died quickly.
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Re: High interest rates for savings, GICs and MMFs (2018)

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Seems perverse to have 7 digits in GICs but WTFDIK. It suggests a risk adverse senior with all marbles in GICs in a big 5 bank or a HNW individual with a high FI allocation in which that person should have a brokersge account where there is at least a dozen GIC issuers anyway.

IOW, I am suggesting a rare case where one would be struggling to find enough ways to distribute investments. That said, your point is understood.
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Re: High interest rates for savings, GICs and MMFs (2018)

Post by northbynorthwest »

Coast Capital Savings credit union in B.C. is offering a 4.0 % 33-month convertible term deposit on newly arriving $$.
This CU was highly uncompetitive every previous time I looked, until now.

https://www.coastcapitalsavings.com/Cam ... ermdeposit
Get a 4.00% interest rate with our 33-Month Convertible Term Deposit.

Switch to another non-redeemable term deposit with an equal or longer maturity date if interest rates go up. Plus, if you do switch, you’ll get an additional 0.10% bonus on any posted rates.
Minimum investment of $500. Available in Non-registered and Registered Accounts such as an RRSP, RRIF, RESP or TFSA.
Offer available for new money only from non-Coast Capital sources. Our standard 2.55% interest rate is available for money already deposited in existing Coast Capital products.

Hurry, this limited time offer ends March 20, 2018.
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Re: High interest rates for savings, GICs and MMFs (2018)

Post by BRIAN5000 »

AltaRed wrote: 18 Feb 2018 14:48 Seems perverse to have 7 digits in GICs but WTFDIK. It suggests a risk adverse senior with all marbles in GICs in a big 5 bank or a HNW individual with a high FI allocation in which that person should have a brokersge account where there is at least a dozen GIC issuers anyway.

IOW, I am suggesting a rare case where one would be struggling to find enough ways to distribute investments. That said, your point is understood.
lots of people on here have 2 mil or more in fixed income, remember the thread about do you need equity if you have 2 million in GIC's. Some more on here have 20-25% of their networth in there homes where is the rest invested. Not everyone drinks the I have to have all equity kool aid.

TDDI has shat for rates on GIC's compared to Oaken but wifey and myself may have to go to CC tomorrow.
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Re: High interest rates for savings, GICs and MMFs (2018)

Post by Koogie »

AltaRed wrote: 18 Feb 2018 14:48 Seems perverse to have 7 digits in GICs but WTFDIK. It suggests a risk adverse senior with all marbles in GICs in a big 5 bank or a HNW individual with a high FI allocation in which that person should have a brokersge account where there is at least a dozen GIC issuers anyway.
IOW, I am suggesting a rare case where one would be struggling to find enough ways to distribute investments. That said, your point is understood.
I've been called worse things by better people... 8) :lol:
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Re: High interest rates for savings, GICs and MMFs (2018)

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northbynorthwest wrote: 18 Feb 2018 14:50 Coast Capital Savings credit union in B.C. is offering a 4.0 % 33-month convertible term deposit on newly arriving $$.
This CU was highly uncompetitive every previous time I looked, until now.

https://www.coastcapitalsavings.com/Cam ... ermdeposit
Get a 4.00% interest rate with our 33-Month Convertible Term Deposit.

Switch to another non-redeemable term deposit with an equal or longer maturity date if interest rates go up. Plus, if you do switch, you’ll get an additional 0.10% bonus on any posted rates.
Minimum investment of $500. Available in Non-registered and Registered Accounts such as an RRSP, RRIF, RESP or TFSA.
Offer available for new money only from non-Coast Capital sources. Our standard 2.55% interest rate is available for money already deposited in existing Coast Capital products.

Hurry, this limited time offer ends March 20, 2018.
Thanks. As a long time member of CCSCU, I'm annoyed that it is for new money only. I suppose I can transfer some money out to another institution and then send it back so it's "new" money.
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Re: High interest rates for savings, GICs and MMFs (2018)

Post by BRIAN5000 »

Account opening fairly painful from my house to Timmies and then to CC and back 1 hour and 15 minutes. Employee only 6 months at institution Zag bank all over again. Zag finally fixed interest on our 2 year GIC's but last one auto renewed on the weekend two three days to fix cause of holiday.

I ask to open an account at CC he runs and gets and Ipad :roll: , we will try to open wife's account from home with our own Ipad then I will try to deposit the $5 into it in person see if that will fly. (required share purchase to open account)

How do people get money from a Big 5 to Coast Capital, they say eTransfer is limited to small amounts, bill payment won't work, no PFT, AFT or EFT available WTF? I'm going to try a bill payment.

Snail mail omg??? :evil:
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