Canadian High Interest Savings Bank Accounts

Accelerate financal saving acccount rates have dropped from 2.20% to 2.10%

what's next rate to drop

Jim said:

They also slashed their GIC rates, especially the longer term ones.

3 yr slashed by 0.30%
4 yr cut by 0.45%
5 yr and longer reduced by 0.40%

More than a quarter point in this low rate environment is huge.

Yet, here is what my adviser says….hmmmmm

It is probably not worth looking at longer terms (for GIC's) and it is certain that rates will go up in the not too distant future.

88kanaka said:

James said:

Thanks for the update Billy. I just noticed it myself. At least Hubert sent us out an email when they dropped the rate from under us.

AcceleRate and Peoples Trust are now tied for the best savings account rate.

Just fyi…..GIC rates…..just checked.

Outlook Accelerate Coast Capital Hubert Steinbach
1 yr. 2.15 2.15 1.6 na 2.05
2 yr. 2.5 2.5 1.9 2.7 2.4
3 yr. 2.7 2.7 2.15 3.05 2.65
4 yr. 2.8 2.8 2.35 3.3 2.9
5 yr. 3.1 3.1 2.5 3.55 3.15

OMG…Hubert is in the lead!!!!

Here is a better edit.

Just fyi…..GIC rates…..just checked.

…………Outlook Accelerate Coast Capital Hubert Steinbach
1 yr. ——–2.15—–2.15—— 1.6——— na—- 2.05
2 yr. ——- 2.5—– 2.5——–1.9———2.7—–2.4
3 yr. ——–2.7——2.7——–2.15——–3.05—-2.65
4 yr. ——–2.8——2.8——–2.35——–3.3—–2.9
5 yr. ——–3.1—– 3.1——–2.5———3.55—-3.15

OMG…Hubert is in the lead!!!!

So looking at it another way for the two highest offerings from Outlook/Acclerate and Hubert is here what a 1000 dollars will earn (rounded off).

1 yr.————2.15——$22
2 yr.————2.5——-$51
2 yr.————2.7——-$55
3 yr.————2.7——-$84
3 yr.————3.05——$96
4 yr.————2.8——-$118
4 yr.————3.3——-$141
5 yr.————3.1——-$167
5 yr.————3.55——$194

It is unbelievable for us investors and retirees to see what the big banks did to rates due to dropping mortgage rates. Makes the decision hard to make as the low mortgage rates may not last long???

it very disappointing