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Email this12:55 pm
March 30, 2017
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AltaRed said
Do you think the banks should be charities then? They only offer a competitive enough rate to attract the funds they need. That is a necessary element of a profitable and successful business and what shareholders expect of management.
Quite the opposite since I am a shareholder 🙂
But I have seen numerous posts by quite a few here who always question why when bank hike rates, GIC rates don't follow suit and go up etc....
And I believe in one snoozes and not aware better rates exist out there, one should lose...
1:24 pm
October 27, 2013
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Fair enough. I am a shareholder too...in a significant way. Banking is no different than any other business. Be both street smart and educated.
1:43 pm
January 9, 2011
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Same here, I own shares directly as well as indirectly via dividend/finance related ETFs, but deal as little as possible in personal banking with the big 5.
The reason is the "obscene" gross margin percentages the big 5 make on cost of funds vs. revenue, compared to the banks that actually try (and we deal with).
My memory's not as sharp as it used to be. Also, my memory's not as
sharp as it used to be.
1:47 pm
April 6, 2013
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People aren't necessarily snoozing. There is actually lots of more money looking for a good place to park than there is need for that money.
Equitable Bank closed a $300 million two-year deposit note issue last month. 2X oversubscribed.
Originally planned on accepting $200 million. Bumped it up to $300 million. $300 million not accepted and looking for another place to park.
3:03 pm
November 3, 2022
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I'll be having some big GICs mature in 2026, and want to make sure that I am not missing any opportunities for top tier rates with Online Brokers, as opposed to GIC brokers.
I am pleased with Q Trade for investing in US and Canadian equities, especially since they dropped trading commissions. But when I look at their GIC rates, these always seem to be 10 to 25 basis points below what is offered by online FIs, or sometimes by deposit brokers.
I don't want to sign up with multiple online brokerages, unless there is a good reason to do so. One good reason, for me, would be a spread of 20 or more basis points on their GIC rates, compared to what Q Trade, or the FI's in this site's matrix, offer.
So are there any online brokerages that offer particularly advantageous rates on GICs? Or are they all similar to Q Trade, which is nothing to get excited about?
6:22 am
June 2, 2018
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Is there a way to add information regarding gic's offered through the various gic brokers and / or the gic's offered through direct investing accounts like itrade and tddi. If we had these rates along side the rates you already have, decision making would be easier.
6:51 am
September 11, 2013
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Rail Baron, I have TDDI, Royal DI, Investors Edge and iTrade, they're all pretty much the same.
Funny thing I've noticed for a while with TDDI is they usually now have TD group of companies with the best rate at the top of the sort list, maybe they're giving TDDI customers a better rate to keep the money with them, I don't know, I haven't compared those rates with the TD rates offered on the TD Bank site.
I'm never concerned with getting the absolute best rates though, I'm happy if they're competitive, within the upper tier, and I recognize there's a price to pay (i.e. their slightly lower rates compared to buying direct from each institution) for the convenience of not having to move money around among various institutions, opening accounts, etc. I'm getting old, no longer have time to waste on money matters if I don't have to, my heirs just end up getting less and they keep exhorting me to spend my money anyway so I'm accommodating them!
8:33 am
November 3, 2022
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Thanks for the feedback, Bill.
Now, all I need to know is how this pack of online brokers' rates compares to Q Trade. If they're all the same, then there's no need for me to sign up for anything more. But if Q Trade makes money by shaving 20 basis points or more off its GIC rates, then I will open another account.
I'm not quite retired, although I can see that date approaching now. Thus, I do want to maximise my interest income, so that I can wind up in the same position as you are financially!
Bill said
Rail Baron, I have TDDI, Royal DI, Investors Edge and iTrade, they're all pretty much the same.Funny thing I've noticed for a while with TDDI is they usually now have TD group of companies with the best rate at the top of the sort list, maybe they're giving TDDI customers a better rate to keep the money with them, I don't know, I haven't compared those rates with the TD rates offered on the TD Bank site.
I'm never concerned with getting the absolute best rates though, I'm happy if they're competitive, within the upper tier, and I recognize there's a price to pay (i.e. their slightly lower rates compared to buying direct from each institution) for the convenience of not having to move money around among various institutions, opening accounts, etc. I'm getting old, no longer have time to waste on money matters if I don't have to, my heirs just end up getting less and they keep exhorting me to spend my money anyway so I'm accommodating them!
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