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Email this12:01 pm
January 6, 2020
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Concentra Bank offering decent rates on their GICs, both registered and non-registered. 3 and 4 yr./4.25% and 5yr./4.40%
https://concentra.ca
12:56 pm
April 6, 2013
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Those are rates for Concentra Bank GIC's bought through a "referring credit union agent":
Non-redeemable GICs purchased directly from Concentra Bank, without the assistance of one of our referring agents, are no longer available. …
GICs, acquired with the assistance of one of our referring credit union agents, will continue to maturity and the financial terms honoured. If your Concentra Bank GIC is set to automatically renew, it will be done at the following rates:
…
Concentra Bank no longer offers retail deposits directly. They closed their digital channel Wyth Financial in 2023.
1:20 pm
April 6, 2013
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Their deposit broker GIC rates through Scotia iTRADE:
| 1 year | 2 year | 3 year | 4 year | 5 year | |
| CONCENTRA BANK | 3.60% | 4.03% | 4.19% | 4.21% | 4.34% |
1:37 pm
January 6, 2020
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Thank you Norman for digging a little deeper. Seemed too good to be true.
3:10 pm
April 6, 2013
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I suspect there aren't many Concentra Bank GIC's issued through that channel.
I never saw a credit union offer GIC's of another issuer. A credit union would more likely issue its own 5-year GIC at maybe 3.5% to the member and then quietly put the money into a Concentra Bank 5-year 4.34% GIC in its own name!
4:56 pm
April 21, 2022
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Norman1 said
I suspect there aren't many Concentra Bank GIC's issued through that channel.I never saw a credit union offer GIC's of another issuer. A credit union would more likely issue its own 5-year GIC at maybe 3.5% to the member and then quietly put the money into a Concentra Bank 5-year 4.34% GIC in its own name!
Isn't there part of a slogan that goes, " ... and bank the rest " ?
5:34 pm
October 27, 2013
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I have had a number of Concentra Bank GICs in the past through Scotia iTrade.
Concentra rates should be the same as Equitable Bank rates through Scotia iTrade, given Equitable owns Concentra now.
5:48 pm
April 6, 2013
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Yes, the Equitable Bank and Concentra Bank offered the same GIC rates at Scotia iTRADE today.
$1,000 minimum for Equitable Bank GIC's. $5,000 minimum for Concentra Bank ones.
| 1 year | 2 year | 3 year | 4 year | 5 year | |
| Concentra Bank Equitable Bank (Scotia iTRADE) |
3.60% | 4.03% | 4.19% | 4.21% | 4.34% |
| EQ Bank | 3.70% | 3.85% | 4.10% | 4.15% | 4.25% |
Equitable Bank family longer-term GIC rates are better there than via EQ Bank, Equitable Bank's digital channel.
