Cashable GIC | 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
April 28, 2022
7:17 am
BlueSky
Member
Members
Forum Posts: 64
Member Since:
November 8, 2021
sp_UserOfflineSmall Offline

In attempting to strategize short term/liquidity, Tang upcoming savings account 2.20% offer vs. Oaken cashable GIC.
Ex. Cashable GIC at 2.0% with an option to withdraw funds after 90 days:
a. Does anyone know if the GIC continues to earn the rate advertized once one can withdraw some money from it after the 90 days "lock in" period?
b. If not, does the money in the cashable GIC returns to the savings account and its current interest rate?

April 28, 2022
8:25 am
Norman1
Member
Members
Forum Posts: 4916
Member Since:
April 6, 2013
sp_UserOfflineSmall Offline

Oaken's one-year Cashable GIC has a one-year term. So, the 1.7% or 2% rate at the start is fixed for the one year.

April 28, 2022
8:39 am
cgouimet
Member
Members
Forum Posts: 366
Member Since:
February 7, 2019
sp_UserOfflineSmall Offline

BlueSky said
In attempting to strategize short term/liquidity, Tang upcoming savings account 2.20% offer vs. Oaken cashable GIC.
Ex. Cashable GIC at 2.0% with an option to withdraw funds after 90 days:
a. Does anyone know if the GIC continues to earn the rate advertized once one can withdraw some money from it after the 90 days "lock in" period?
b. If not, does the money in the cashable GIC returns to the savings account and its current interest rate?  

Short/medium term, rates are going up, so why not use the 2.2% TNG offer while it lasts then later consider locking in at a higher rate.

CGO
April 28, 2022
9:44 am
Dean
Valhalla Mountains, British Columbia
Member
Members
Forum Posts: 948
Member Since:
January 12, 2019
sp_UserOfflineSmall Offline

.
And as a 'Third' Option, don't forget Hubert's quarterly cashable 1yr GIC. The first quarter rate is 2.10% .

.
And note that 2.20% Rate for the upcoming special-offer Tangerine Savings Account, can change at Any time (up or Down).

    Dean

sf-cool " Live Long And Prosper " sf-cool

April 28, 2022
10:24 am
savemoresaveoften
Member
Members
Forum Posts: 1197
Member Since:
March 30, 2017
sp_UserOfflineSmall Offline

BlueSky said
In attempting to strategize short term/liquidity, Tang upcoming savings account 2.20% offer vs. Oaken cashable GIC.
Ex. Cashable GIC at 2.0% with an option to withdraw funds after 90 days:
a. Does anyone know if the GIC continues to earn the rate advertized once one can withdraw some money from it after the 90 days "lock in" period?
b. If not, does the money in the cashable GIC returns to the savings account and its current interest rate?  

why would you consider a GIC that is logged in for at least x amount of time and at a lower rate than a savings account that has no such restriction ??

if you worry about very short rates going down in the next 6 months, it wont happen

April 29, 2022
7:00 am
pooreva
Member
Members
Forum Posts: 324
Member Since:
April 2, 2018
sp_UserOfflineSmall Offline

Dean said

And note that 2.20% Rate for the upcoming special-offer Tangerine Savings Account, can change at Any time (up or Down). 

Tang 2.2% offer is so muddy I do not understand conditions. Is it for New money? Existing money? Existing + any New money? If you take money out do you lose 2.2%.
I took money out just in case...

April 29, 2022
8:15 am
BlueSky
Member
Members
Forum Posts: 64
Member Since:
November 8, 2021
sp_UserOfflineSmall Offline

savemoresaveoften said

why would you consider a GIC that is logged in for at least x amount of time and at a lower rate than a savings account that has no such restriction ??

if you worry about very short rates going down in the next 6 months, it wont happen  

It's just that Tang offers are unclear in terms of what's the promo rate applies to, there's always a guessing game going, and for Quebec, FI options are very limited.

Dean, I would have like to have options such as Hubert, but as I noted above, not too many options here.

May 2, 2022
2:41 pm
GR
Member
Members
Forum Posts: 459
Member Since:
September 15, 2017
sp_UserOfflineSmall Offline

Parama Credit Union (Ontario) has a special offer. 1 year GIC cashable anytime after 60 days at 2.50% p.a.

https://parama.ca/SPECIAL_GIC_OFFER

May 8, 2022
5:02 am
CashGic
Newbie
Members
Forum Posts: 1
Member Since:
May 8, 2022
sp_UserOfflineSmall Offline

First I would like to say this is a great website for Comparison High Interest Savings Account.

Another addition to the site would be a Comparison Chart for Cashable GIC - 30 days to 3 years.

Thanks for the great site.

Please write your comments in the forum.