

Weekend deposit interest
November 30, 2019
6:25 am
6:25 am
Bud
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February 20, 2018

November 30, 2019
8:11 am
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Doug
British Columbia, Canada
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December 12, 2009

November 30, 2019
8:14 am
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Norman1
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April 6, 2013

November 30, 2019
9:55 am
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Bill
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September 11, 2013

November 30, 2019
1:24 pm
1:24 pm
Righand
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December 15, 2016
December 15, 2016

Bill said
So if you bought a 1-year GIC last March 1 or later you have to hold it for 366 days to get your year's interest, I guess.
It's not really a big deal because you'll be paid for 366 days, at least that has been my experience but lately with HISA's paying more I've been avoiding the 1 year issues.
November 30, 2019
4:17 pm
4:17 pm
Norman1
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April 6, 2013
April 6, 2013

I'm not so sure about getting extra interest for the leap day with a one-year GIC.
Maturity is one calendar year, regardless of length of the year. If the interest is compounded monthly, then one could extra interest for the leap day. But, if the interest is compounded or paid out annually, then one will just get the quoted interest per annum, regardless of the days in the year.
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