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motusbank TFSA GICs
December 29, 2022
3:35 pm
JenE
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1-year TFSA GIC 4.95%
18 month TFSA GIC 5.30%
2 year TFSA GIC 5.15%
3-year TFSA GIC 5.15%
4-year TFSA GIC 5.15%
5-year TFSA GIC 5.25%

If you ask, they will give you a 30 day rate guarantee

December 29, 2022
9:12 pm
NCC1701Z
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Why are all the 18 mo term GIC's almost everywhere so much higher?

December 29, 2022
9:44 pm
HermanH
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That's when they expect the recession to hit and drop interest rates.

December 29, 2022
11:15 pm
Norman1
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That's just the rates that brings in deposits at a similar flow to what they are able loan the funds out.

Not every GIC issuer is keen on 18-month funds. These are the special GIC rates Royal Bank recently offered me:

1 Year 4.75%
18 Months 3.30%
2 Years 5.00%
3 Years 5.00%
4 Years 4.05%
5 Years 5.00%
December 29, 2022
11:52 pm
Loonie
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Meridian has used the 18 month as their unofficial promo rate for a long time, and I imagine motus is following suit.
Any time I have complained to Meridian about their rates, they always point to the 18 month, whatever it may be at the time. They must have discovered that it's a good way to get people to start buying GICs.

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