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Parama GIC 1-yr @1.5%, 2-yr @1.75% for a limited time
October 17, 2021
10:00 am
hwyc
GTA
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Tied with top of the chart
https://parama.ca/SPECIAL_GIC_OFFER

October 28, 2021
5:18 am
hwyc
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... adding 2-yr 1.75% sf-smile

October 28, 2021
8:56 pm
COIN
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Since B of C is signalling higher rates in 2022, best to go no more than 1 year?

October 29, 2021
6:01 am
gicjunkie
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COIN said
Since B of C is signalling higher rates in 2022, best to go no more than 1 year?  

Predicting any market situation is risky. If you are one of those people who likes to ladder investments, as I do, the risks of wild fluctuations up and down are tempered somewhat. If you want to try and "time" the market you may never end up maximizing your return. If all of your eggs are in one basket (or time frame), this may work really well at some points in time, but terribly at others.

As do many other contributors to this site, I try to space out the maturity dates of our investments. This affords certain flexibility from year to year in that money is almost always coming available at any point in time, either for a major purchase or reinvestment. Obviously, when rates are very low, it may not make a lot of sense to go long term. It always depends on how much money is available to invest, the timing of if and when you may again need it again. Some mid and longer term rates are not terrible right now. They were worse not too long ago. Short term may work well for you, but you are also losing interest in the hope that rates will be significantly better next year. We will eventually see. Good luck with your decision and remember, the only sure things in life are death and taxes.

October 29, 2021
7:44 am
Loonie
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Well said, gicjunkie!

October 29, 2021
5:24 pm
Alexandra
British Columbia
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I see GIC direct has increased its rates again. I didn't phone so not sure of the FI.

New rates:
1yr@1.65%; 2yr@1.9%; 3yr @2.3%; 4yr@2.4% & 5yr@2.7%.

October 29, 2021
5:28 pm
Alexandra
British Columbia
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Whoops, sorry people, just saw the rates are already posted under brokerage rates. Forgot to look!!sf-embarassed

October 30, 2021
9:09 am
gicjunkie
Ontario
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Alexandra said
I see GIC direct has increased its rates again. I didn't phone so not sure of the FI.

New rates:
1yr@1.65%; 2yr@1.9%; 3yr @2.3%; 4yr@2.4% & 5yr@2.7%.  

Did anyone contact a broker to find out which FI is offering the 2.70% for 5 years?

November 1, 2021
8:06 am
gicjunkie
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Rates are up again at Monarch.
5 year GIC is 2.75%

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