Big 6 third party GICs | GIC discussions | 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
Big 6 third party GICs
January 29, 2019
12:18 pm
Bud
Member
Banned
Forum Posts: 1375
Member Since:
February 20, 2018
sp_UserOfflineSmall Offline

I noticed BMO Investorline offers a few names RBCDS Direct doesn't: Street capital, Concentra, Shinhan, Sunlife

Anyone know other third party names besides usual being offered by the big 6 brokerages?

What has Street C., Concent., and Sunny been yielding going back to the last rate increase did any get up to 3%?

January 29, 2019
12:28 pm
stoidi
Member
Members
Forum Posts: 39
Member Since:
January 25, 2019
sp_UserOfflineSmall Offline

Here is iTrade

Sorry..had to do pics. Screen-Shot-2019-01-29-at-12.27.01-PM.pngScreen-Shot-2019-01-29-at-12.27.15-PM.png

January 29, 2019
12:37 pm
Londonguy
Member
Members
Forum Posts: 533
Member Since:
May 27, 2016
sp_UserOfflineSmall Offline

hotmony said
I noticed BMO Investorline offers a few names RBCDS Direct doesn't: Street capital, Concentra, Shinhan, Sunlife

Anyone know other third party names besides usual being offered by the big 6 brokerages?

What has Street C., Concent., and Sunny been yielding going back to the last rate increase did any get up to 3%?  

Here's TDDI for 1 & 2 year product only -- not much choice

TDDI-GIC-2019-01-29.jpgtd.jpg

January 29, 2019
12:40 pm
Bud
Member
Banned
Forum Posts: 1375
Member Since:
February 20, 2018
sp_UserOfflineSmall Offline

Thanks for posting itrade has one i haven't seen before ADS Canadian Bank

January 29, 2019
12:50 pm
Bud
Member
Banned
Forum Posts: 1375
Member Since:
February 20, 2018
sp_UserOfflineSmall Offline

Does anyone know who if any offers any of these names:

CTBC Bank Corp. (Canada)
Computershare Trust Company of Canada
Desjardins Trust Inc.
DirectCash Bank
League Savings and Mortgage Company
Legacy Private Trust
Industrial Alliance Trust Inc.
Industrial and Commercial Bank of China (Canada)
Investors Group Trust Co. Ltd.
Mega International Commercial Bank (Canada)
Peace Hills Trust Company
UBS Bank (Canada)
Valiant Trust Company

November 23, 2021
6:48 am
hwyc
GTA
Member
Members
Forum Posts: 820
Member Since:
September 30, 2017
sp_UserOfflineSmall Offline

Just checked TDDI (brokerage) today, things are looking good again as well - 3y GIC @ 2.15% ...considering the 0.25% invisible margin TD earns. The 3rd party FI is willing to pay 2.4%

December 24, 2021
6:06 am
hwyc
GTA
Member
Members
Forum Posts: 820
Member Since:
September 30, 2017
sp_UserOfflineSmall Offline

3rd party GIC rate from TDDI brokerage (I liked these two) 2yr 2.05% (Equitabe $1k min), 3yr 2.36% (Duo $3.5k min) ... monthly or semi-annual interest payout available at reduced rate

December 24, 2021
6:45 am
canadian.100
Member
Members
Forum Posts: 714
Member Since:
September 7, 2018
sp_UserOfflineSmall Offline

hwyc said
3rd party GIC rate from TDDI brokerage (I liked these two) 2yr 2.05% (Equitabe $1k min), 3yr 2.36% (Duo $3.5k min) ... monthly or semi-annual interest payout available at reduced rate  

Scotia iTrade seems similar for 3rd party GICs
These are for annual interest option
Home 2 yr 2.06% 3yr 2.36% Min $5K
Equitable 2 yr 2.05% 3yr 2.35% Min $1K
Home Equity 3 yr 2.35% Min $5K

December 24, 2021
10:16 am
COIN
Member
Members
Forum Posts: 803
Member Since:
March 15, 2019
sp_UserOfflineSmall Offline

You will almost always get a better rate dealing directly with the GIC issuer (if you can) because the bank broker gets a commission and that mostly comes from a reduction in the GIC rate you get.

March 4, 2022
9:43 am
hwyc
GTA
Member
Members
Forum Posts: 820
Member Since:
September 30, 2017
sp_UserOfflineSmall Offline

3rd party GIC rate available today from TDDI (good to know) 2yr 2.50%, 3yr 2.84%

March 4, 2022
11:52 am
Norman1
Member
Members
Forum Posts: 5469
Member Since:
April 6, 2013
sp_UserOfflineSmall Offline

Just checked Scotia iTRADE.

Highest two for two year rates:

2.51% VersaBank ($1,000 minimum)
2.50% B2B Bank ($1,000), General Bank of Canada ($5,000)

Highest two for three year rates:

2.84% B2B Bank ($1,000), Home Equity ($5,000)
2.82% Home Trust ($5,000), Equitable Bank ($1,000), Versa Bank ($1,000)

March 18, 2022
6:27 am
hwyc
GTA
Member
Members
Forum Posts: 820
Member Since:
September 30, 2017
sp_UserOfflineSmall Offline

Today I see five entries on 3-yr for 3%+ on TDDI (vs only two on our GIC chart). I believe they are CDIC insured. What's keeping them from transpiring these rates on their own website rates ? For example, LBC digital is 3% on TDDI but only 2.75% today on LBC digital website

March 18, 2022
11:10 am
Loonie
Member
Members
Forum Posts: 8571
Member Since:
October 21, 2013
sp_UserOfflineSmall Offline

hwyc said
Today I see five entries on 3-yr for 3%+ on TDDI (vs only two on our GIC chart). I believe they are CDIC insured. What's keeping them from transpiring these rates on their own website rates ? For example, LBC digital is 3% on TDDI but only 2.75% today on LBC digital website  

It is likely that TDDI customers have more money than run-of-the-mill. These FIs can hope to raise more money more quickly from clients who have more money.

The FIs may be assuming that rates are going to continue to rise. if so (and I would agree), it may be worth their while to stockpile funds from GIC investors and loan the out in future months at higher rates.

March 18, 2022
2:44 pm
canadian.100
Member
Members
Forum Posts: 714
Member Since:
September 7, 2018
sp_UserOfflineSmall Offline

hwyc said
Today I see five entries on 3-yr for 3%+ on TDDI (vs only two on our GIC chart). I believe they are CDIC insured. What's keeping them from transpiring these rates on their own website rates ? For example, LBC digital is 3% on TDDI but only 2.75% today on LBC digital website  

Yes - on Scotia iTrade also a large number of FI GICs @ 3% and more for 3, 4, and 5 year terms. Surprised to see even Canadian Tire Bank 5 yr GIC is 3% on iTrade same as on CT site. Obvious that the FIs want purchasers to lock in for longer terms.

March 18, 2022
2:55 pm
canadian.100
Member
Members
Forum Posts: 714
Member Since:
September 7, 2018
sp_UserOfflineSmall Offline

Loonie said
It is likely that TDDI customers have more money than run-of-the-mill. These FIs can hope to raise more money more quickly from clients who have more money.

The FIs may be assuming that rates are going to continue to rise. if so (and I would agree), it may be worth their while to stockpile funds from GIC investors and loan the out in future months at higher rates.  

Higher rates for GICs on the TDDI site may be necessary to induce TDDI investors to buy GICS. "Run-of-the-mill" people (your expression, not mine) may buy modest amounts of GICs, while more affluent individuals probably do not invest in GICs unless the rates are more attractive/a bit higher and that may be why the rates on TDDI are a bit higher as an incentive. Once GIC rates are 4% on iTrade, I will likely buy. sf-wink

March 18, 2022
11:53 pm
Loonie
Member
Members
Forum Posts: 8571
Member Since:
October 21, 2013
sp_UserOfflineSmall Offline

People decide to invest in GICs at various rates for various reasons at various times and through various routes. My comments above were primarily about what FIs might be thinking about their customers and was entirely speculative.

I don't think there is anything special about 4% (or 3% or 5% etc), but these are milestones on what has been a dreary landscape in recent years. What matters more is the spread between GIC rates and personal cost of living. I expect that gap to continue to widen faster than rates increase.

March 31, 2022
6:11 am
hwyc
GTA
Member
Members
Forum Posts: 820
Member Since:
September 30, 2017
sp_UserOfflineSmall Offline

Checking 1-5 year GIC top five rates on TDDI
1y 2.15% - 2.25%
2y 2.88% - 2.95% sf-smile
3y 3.35% sf-surprised 5 different bidders at this rate
4y 3.23% - 3.30%
5y 3.30% - 3.35%

Looks like everybody wants commitment for 3 yr (& not just Oaken)

March 31, 2022
11:06 am
Alexandra
British Columbia
Member
Members
Forum Posts: 360
Member Since:
September 24, 2019
sp_UserOfflineSmall Offline

Just looking at Manulife's rates GIC rates: 3yr@3.2%; 4yr@3.2%;&5yr@3.3%

April 11, 2022
5:46 am
hwyc
GTA
Member
Members
Forum Posts: 820
Member Since:
September 30, 2017
sp_UserOfflineSmall Offline

1-5 year GIC top five rates seen on TDDI
1y 2.50% - 2.39%
2y 3.21% - 3.08%
3y 3.60% - 3.44%
4y 3.62% - 3.60%
5y 3.62% - 3.60%

Please write your comments in the forum.