Down to 1.5% | Canadian Tire | Discussion forum

High Interest Savings Best Tips: $100 prize each week for the most useful forum post!
 

 
Current User: Guest Login Register
Please consider registering


Register? | Lost Your Password?

Search Forums:


 






Minimum search word length is 4 characters – Maximum search word length is 84 characters
Wildcard Usage:
*  matches any number of characters    %  matches exactly one character

Discussion forum Canadian Tire Down to 1.5%

Down to 1.5%  
Page:   1   Reply to Post Add a New Topic
UserPost

10:05 pm
July 30, 2009


Scone

Guest

  Quote and Reply
  Report Post
Print this Post
1

Crappy tire is now down to 1.5%.

12:45 am
August 1, 2009


Hornswoggler

Member

posts 33
  Quote and Reply
  Report Post
Print this Post
2

Its almost as if money has become worthless to banks.

The govt is printing it up and handing it to them for free so who cares about getting deposits.

12:54 am
August 3, 2009


jacks

Guest

  Quote and Reply
  Report Post
Print this Post
3

my 90 days 1% promo with ctfs is almost up. Wondering if I should move to maxa financial? Or for that little interest difference, does it even matter?

4:32 am
August 3, 2009


Mike

Guest

  Quote and Reply
  Report Post
Print this Post
4

Hornswoggler said:

Its almost as if money has become worthless to banks.


The govt is printing it up and handing it to them for free so who cares about getting deposits.

I think you got it right there. It's a simular to what happend in the 90's when savings accounts went down to .025%, banks didn't need customers money any more. So they offered very little return for it. I fear, the same as you, with all the QE going on that it's cheaper to borrow from the Gov't than it is to borrow from the saver. Plus with Gov't bank bailouts, they don't feel they need to attract money anymore as they know the Gov't will bail them out if anything goes wrong. No risk, poor bank decisions = big rewards for banks.

Mike

4:37 am
August 3, 2009


Mike

Guest

  Quote and Reply
  Report Post
Print this Post
5

jacks said:

my 90 days 1% promo with ctfs is almost up. Wondering if I should move to maxa financial? Or for that little interest difference, does it even matter?

Well, depends on how much you have in the bank. I'm sitting in HSBC at 1.05% unhappy with the rate, but happy HSBC is a lower "secure" risk bank. Sure, I could get DOUBLE the rate (and I should) if I move my money. But 1% is a poor return, but better than the deflation going on now, and better than the stock market for the average person due to it's extreme risk right now.

If you can, move it, stay under the CDIC limit and if anything, it will make a statement to the bank you are withdrawing your money from that their rates are not competitive. Tell them that via customer service, even write I a letter/email (I did to HSBC). If you want to make a big statement, demand CASH only.

Mike

10:21 pm
August 3, 2009


Hornswoggler

Member

posts 33
  Quote and Reply
  Report Post
Print this Post
6

But 1% is a poor return, but better than the deflation going on now

There is no deflation going on. my bills are only going up along with the cost of everything. Income is stagnating. I have seen nothing fall except interest payments on my savings.

I wish people would stop repeating the central bank's propaganda. Savers are being robbed to pay the debts of gamblers and spenders by crooks at the top who think their meddling in the markets is warranted.
Page:   1   Reply to Post

Reply to Topic:
Down to 1.5%

Guest Name (Required):

Guest Email (Required):

HTML Editor
Post New Reply

Guest URL (required)

Math Required!
What is the sum of:
5 + 2