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Email this7:42 am
November 7, 2014
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5 year rate drops from 3.00% to 2.90%
New rates as follows:
1 Year Term 2.25%
2 Year Term 2.45%
3 Year Term 2.60%
4 Year Term 2.75%
5 Year Term 2.90%
6 Year Term 2.95%
7 Year Term 3.00%
8:50 am
October 22, 2015
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They just lost themselves a big fat GIC that I was going to purchase in January.
Looks like Implicity will get my business instead.
10:50 am
September 15, 2017
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fabafter50 said
They just lost themselves a big fat GIC that I was going to purchase in January.
Looks like Implicity will get my business instead.
When the trend is for interest rates moving upward, do you really want to lock in for 5 years? If yes, some other options for 5 year GICs at 3% p.a. besides Implicicty are Oaken, Motive and Hubert. In the case of Motive, clients aged over 57 can have interest paid monthly at the same rate to their linked bank account.
11:46 am
February 24, 2015
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Depends how quickly interest rates rise. If you buy a compounding GIC now, $10,000 will grow to $10,592.74 in 5 years. If you wait a year, earning 2% in savings during that time, you will need to find a 4 year GIC paying 3.25% to match the $10,592.
7:16 pm
November 19, 2014
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gicjunkie said
5 year rate drops from 3.00% to 2.90%
New rates as follows:
1 Year Term 2.25%
2 Year Term 2.45%
3 Year Term 2.60%
4 Year Term 2.75%
5 Year Term 2.90%
6 Year Term 2.95%
7 Year Term 3.00%
Thanks for letting us know. Appreciate your input. It has been very timely for me in the past.
Cheers.
7:49 pm
October 21, 2013
Online
To be fair, they didn't exactly "drop" their rate. The five-year 3.0 rate was an advertised "Special", meant to be of limited duration.
It is annoying though when you're all fired to send off some money to take advantage of a rate and it disappears before your eyes. I commend Oaken for always giving us notice, with (just barely) enough time to act.
Please write your comments in the forum.