Topic RSSAccelerate GIC Rate Increases For 4 and 5 Years
November 23, 2018
3:00 pm
3:00 pm
gicjunkie
Ontario
Member
Members
Forum Posts: 673
Member Since:
November 7, 2014
November 7, 2014
OfflineDecember 14, 2018
11:33 am
11:33 am
GR
Member
Members
Forum Posts: 702
Member Since:
September 15, 2017
September 15, 2017
Offlinejulio said
Thank’s for posting. On both, 5K and 10K, for 1Y the effective rate is then 3.85%. Bonus taxable? For one-person-account.
The bonus of $50 or $100 is added upfront to the principal amount invested @ 2.85% p.a., so for one year on $5k or $10k, the yield is actually 3.88% p.a., BUT, the effective yield is even higher because the rep claims the bonus amount of $50 or $100 is not interest, so it is not taxable.
© Simple:Press —
Log In
Register
Facebook
Twitter
Email this
Please write your comments in the forum.