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Current GIC Products- Highest Rates For 4 and 5 Years
August 16, 2024
12:04 pm
gicjunkie
Ontario
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According to today's DUCA website info:

1 Year 4.75%
18 Month 4.80%
2 Year 4.50%
3 Year 4.25%
4 Year 4.50%
5 Year 4.50%

August 16, 2024
1:56 pm
GR
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Depending on amount(s) of your GIC investment(s), a CSR at a Duca branch can request from head office a "rate exception" for GIC rates higher than posted rates.

August 17, 2024
3:46 am
savemoresaveoften
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How much leeway do they have ? 10bps I presume ?
That’s what Meridian will give on top of posted rates for someone who is renewing a GIC.

August 17, 2024
9:46 am
gicjunkie
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GR said
Depending on amount(s) of your GIC investment(s), a CSR at a Duca branch can request from head office a "rate exception" for GIC rates higher than posted rates.  

I am unsure about the relevance of this kind of question when the FI discussed herein actually is quoting the highest category rate already. Usually the "rate exception" type of request is made when asking a FI to match or exceed another institution's rate. Just saying.......

August 17, 2024
11:15 am
JenE
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Duca matched Oaken’s 5.05%, 2 year term, when I requested it last week.

August 17, 2024
12:22 pm
gicjunkie
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JenE said
Duca matched Oaken’s 5.05%, 2 year term, when I requested it last week.  

And this is where "price matching" is relevant. I guess I was unclear when I posted the current DUCA rates that I was highlighting the 4 and 5 year rates which are the current highest category rates in play that I am aware of. Those rates don't have to be matched or exceeded. But, it is always good to ask a FI if they are willing to match or exceed another FI rate in order to obtain new investments or just keep your existing business. Some institutions are actually well known for this. Others don't seem to care.

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