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Accelerate GIC Rate Increases For 4 and 5 Years
November 23, 2018
3:00 pm
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gicjunkie
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November 30, 2018
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toto
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November 30, 2018
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julio
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December 14, 2018
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GR
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julio 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.
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