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2018 12 03 Post Promo GIC Rates
November 8, 2018
6:23 am
Nehpets
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DUCA currently pays 3.25% on its promo savings rate that expires Dec 3, 2018.

According to an online CSR with whom I spoke this morning, effective Dec 3, DUCA will offer 3.00% on a one year GIC and 3.15% on a 2 year GIC.

Stephen

November 8, 2018
3:43 pm
GR
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A rep from DUCA phoned with two GIC promo offers after the expiry of the current savings account promo:

1yr GIC 3.00% p.a or
3 yr GIC 3.25% p.a. cashable at same rate annually on each anniversary date

November 8, 2018
3:55 pm
Loonie
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GR said
A rep from DUCA phoned with two GIC promo offers after the expiry of the current savings account promo:

1yr GIC 3.00% p.a or
3 yr GIC 3.25% p.a. cashable at same rate annually on each anniversary date  

Just to be clear, do you mean, in the second offer, that they effectively offered the potential of a one-year GIC at 3.25? I just want to b sure that it wasn't an "escalator" type.
If yes, this would be competitive with Meridian, but not with OmniaDirect.
Nobody has called me yet.sf-cry
But there is still time...

November 8, 2018
9:38 pm
GR
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Loonie said

Just to be clear, do you mean, in the second offer, that they effectively offered the potential of a one-year GIC at 3.25? I just want to b sure that it wasn't an "escalator" type.
If yes, this would be competitive with Meridian, but not with OmniaDirect.
Nobody has called me yet.sf-cry
But there is still time...  

No, it is not an escalator GIC. Yes, my understanding is that you can redeem the 3 year GIC after one year on the anniversary date without penalty and get 3.25% p.a.
I was contacted by a DUCA rep from 1-866-900-3822.

November 9, 2018
7:46 am
Loonie
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thx

November 10, 2018
7:01 am
AlainJF
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Loonie said
Just to be clear, do you mean, in the second offer, that they effectively offered the potential of a one-year GIC at 3.25? I just want to b sure that it wasn't an "escalator" type.

I got this offered to me as well by phone, and I asked the question many times:

"Is this in fact a 1 year GIC @ 3.25%, renewable for a total of 3 years, compounded yearly, and cashable yearly ? Answer from DUCA: Yes, that is what it is.

I did not see any "text" confirming this, and I would like to see it... If someone has the text about it, could you share here please.

November 10, 2018
8:03 am
anitavirginia
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Just spoke to representative,. and she stated that she would send me an email outlining the details of the 3 yr gic, 3.25% offer. She stated that this offer is not posted on their web site.

November 10, 2018
10:16 am
savemoresaveoften
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I was also offered the 3y annual cashable 3.25% GIC. Given they post cashable GIC at reduced rate if redeem early, I like to see the offer too in writing if possible just so no confusion (given the 3.25% offer expires Dec 3rd)

November 10, 2018
10:50 am
Loonie
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I think it's basically a retention offer, so might only be available to those of us who signed up for the current savings deal, or maybe someone who specifically asks for it. Therefore would not be on their website. They might decide to make it for the general public later - or not. I think they are trying to ward off large withdrawals on Dec 4 by getting people to take out a GIC now. Can't blame them. It makes good business sense.
I think they should make the T&C available to you when you log in though.

November 12, 2018
12:57 pm
anitavirginia
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still haven't received written confirmation re this offer, after they promised to email me something.

Has anyone, received confirmation in writing.

November 13, 2018
7:44 am
Nehpets
Ontario
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anitavirginia said
still haven't received written confirmation re this offer, after they promised to email me something.
Has anyone, received confirmation in writing.  

Submitted my own written request today for clarification...hoping for a timely response.

Stephen

November 14, 2018
3:56 am
AlainJF
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anitavirginia said
still haven't received written confirmation re this offer, after they promised to email me something.

Has anyone, received confirmation in writing.  

I specifically asked for it, and I was told that nothing written is available at this moment for distribution.

"Has anyone, received confirmation in writing" remains a valid question !

November 15, 2018
9:50 am
Nehpets
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Duca's retention offer is a one year GIC at 3%, cashable at 6 months at 2.75%, or a three year GIC at 3.25% cashable at every anniversary.

Have not got this in writing, but from my notes taken in a telephone conversation with CSR.

Stephen

November 15, 2018
10:42 am
Loonie
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I doubt we'll see anything in writing til Dec 3 or 4. The offer doesn't kick in until the old one ends. And it appears to be restricted to people who participated in the current one - at least for the moment.

That said, I don't anticipate any hitches with the offer. However, it seems strange to offer two different versions - a one year GIC at 3% and one at 3.25%. Is there some condition that will make it difficult to cash in after one year at 3.25? Seems to me it would be in their interests to just offer the deal that lasts longer. But what do I know? lol

The problem is, if I'd wanted to put it in at 3.25 for a year, I coulda done that already at Meridian already. The money I have at DUCA is meant to remain in cash, so it's unlikely it will remain there.

I kind of like DUCA though, despite some wrong info given to me by their in-branch-person-with-a-desk, I'd like to find a reason to stay with them, but this isn't it. Still looking for an exceptional four-year rate....

November 15, 2018
1:41 pm
Nehpets
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Just received a written confirmation by return email:

...promotional rates for only the funds in our Earn More Promotional Account. You can add more funds to these rate exceptions.

1 year @3.00%, cashable after 6 months at 2.75%.

3 years @3.25% Cashable on anniversary

5 years @3.50%

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