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is 120 day gic (non promo) a thing?

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is 120 day gic (non promo) a thing?

July 13, 2024
1:29 am

notsavvy

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I tried a search, but I guess can't select this sub forum versus searching entire website?

Anyway. Just curious if there are any gic of this topic outside of hubert (now lack of 2fa for login now that merged with access) and motive? Available for rest of Canada. I like the idea of not having to lock in for an entire year. Even though I'm sure the rates are going to continue to go down.

July 13, 2024
4:48 am

zgic

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Tangerine & EQ have less than 1 year GICs like 90 or 120 days etc.

July 13, 2024
6:30 am

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For GIC terms less than 1 year:

https://www.cannex.com/public/term01e.html

Also, Duca C.U. has cashable 3 month and 6 month GICs at good rates.

July 13, 2024
6:44 am

hwyc

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It is a normal thing - 120-day term is found under the short term category of GICs. I ignored this space for most of the time because of the unattractive rates ... I rather wait to be hit by a Tangerine lottery.

July 13, 2024
7:30 am

Norman1

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There are cashable variable rate GIC's if one banks at Bank of Montreal, Canadian Western Bank, CIBC, or RBC Royal Bank:

4.70% ($250,000 min.) RBC Prime-Linked Cashable one-year GIC
4.50% ($5,000 min.) RBC Prime-Linked Cashable one-year GIC
4.35% ($1,000 min.) Canadian Western Bank floating rate redeemable GIC
4.25% ($1,000 min.) CIBC Variable Rate GIC
4.00% ($5,000 min.) BMO Variable Rate GIC

July 13, 2024
6:38 pm

notsavvy

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Thanks for all the responses. Definitely some options to think about.
Cashable gic, that was likely the term I was looking for. The 120 day was the shortest term I could find with decent rates.

July 13, 2024
7:15 pm

everhopeful

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Yeah there are plenty of short term GIC's from many FI's but the rates mostly are not good. Motive's special until the end of the month is the clear winner. Best other options outside of Hubert/Motive I can give is WS Cash 4% if you need quick access, or the EQ Notice account 5% / 4.5% with 30 / 10 days notice of withdrawal. Neither are guaranteed rate, but I don't predict interest rates to fall any more than 50bp in the next 4 months.

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