Interest rate is now 1.20% | AcceleRate Financial | Discussion forum

Please consider registering
guest

sp_LogInOut Log In sp_Registration Register

Register | Lost password?
Advanced Search

— Forum Scope —




— Match —





— Forum Options —





Minimum search word length is 3 characters - maximum search word length is 84 characters

sp_Feed Topic RSS sp_TopicIcon
Interest rate is now 1.20%
December 7, 2020
5:04 pm
tonster501
Member
Members
Forum Posts: 15
Member Since:
September 1, 2012
sp_UserOfflineSmall Offline

As of December 05, 2020.

December 25, 2020
10:43 am
MrMGoldberg
Member
Members
Forum Posts: 3
Member Since:
March 2, 2014
sp_UserOfflineSmall Offline

I just noticed this on the chart here! For some reason the "OD Int Rate" (of 21.000%!) is listed in the place where the interest rate would normally be. This seems suspicious to me. Accelerate used to always be near the top of the charts for rates. Now they're just at the top alphabetically, having dropped their HISA interest rate 1.1% in a calendar year (or -47.8% in real terms).

I know rates are lower, but without doing much research, I wonder if the recent merger has something to do with it.

I'm thinking of jumping ship to Canadian Tire. Anyone else thinking like me?

December 25, 2020
11:08 am
canadian.100
Member
Members
Forum Posts: 421
Member Since:
September 7, 2018
sp_UserOfflineSmall Offline

MrMGoldberg said
I just noticed this on the chart here! For some reason the "OD Int Rate" (of 21.000%!) is listed in the place where the interest rate would normally be. This seems suspicious to me. Accelerate used to always be near the top of the charts for rates. Now they're just at the top alphabetically, having dropped their HISA interest rate 1.1% in a calendar year (or -47.8% in real terms).

I know rates are lower, but without doing much research, I wonder if the recent merger has something to do with it.

I'm thinking of jumping ship to Canadian Tire. Anyone else thinking like me?  

Perhaps you believe that Cdn Tire will stay @ 1.8%?
I think 1.2% is getting to be pretty much the general "market rate" these days and I wouldn't be surprised to see more reductions by some FIs to 1.0% during first quarter of 2021. The economy in Canada is quite weak right now and govt spending is sky high. I believe interest rates are likely to trend lower. Interest rate trend is good for mortgages (buying a house) but not good for savers.

January 21, 2021
1:22 pm
MrMGoldberg
Member
Members
Forum Posts: 3
Member Since:
March 2, 2014
sp_UserOfflineSmall Offline

Perhaps you believe that Cdn Tire will stay @ 1.8%?

Ha, I'm not sure what to believe, but "Crappy" Tire has had relatively consistent interest rates for years. You're definitely right about economic weakness. Thanks for the response.

Please write your comments in the forum.