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PEOPLES GROUP GIC 3.1 percent 15 month gic
May 10, 2019
5:14 am
Pennywise
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I saw this on line this morning
I don't know much about the company or the terms of offer
But the rate looked ok
Pennywise

https://www.peoplestrust.com/en/

May 10, 2019
6:34 am
Nehpets
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The last holdout for a rate in excess of 3% for one year plus a bit.....took advantage of the opportunity this week.

Peoples is easy to deal with and CSR's are helpful.

Only limitation of the online enrolment process for existing clients in opening a GIC is that the GIC is opened with the default renewal option at maturity..so a call to the CSR is needed to modify maturity instructions if desired.

Stephen

May 10, 2019
6:46 am
Bill
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Stephen, I call them the day after I buy the GIC online so I don't have to remember to do it a year from now when it matures. I think I'm clever but maybe I'm just stating the obvious.

May 10, 2019
8:36 am
Nehpets
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Bill said
Stephen, I call them the day after I buy the GIC online so I don't have to remember to do it a year from now when it matures. ...

Sure, that's the way I like to proceed as well. Get the details out of the way so there are no loose ends that can get tangled later on..sf-wink

A similar situation occurs if the GIC is to be in joint ownership....it requires a follow up phone call if the GIC booking is done using their online interface.

I use a digital calendar / reminder of upcoming maturing GIC's that issues a notification seven days prior to maturity, that includes reminders such as verification of maturity instructions...to preclude any possibility of an administrative misunderstanding.

Stephen

May 10, 2019
8:49 am
GICinvestor
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Only limitation of the online enrolment process for existing clients in opening a GIC is that the GIC is opened with the default renewal option at maturity..so a call to the CSR is needed to modify maturity instructions if desired.

There is a few limitations.
As mentioned you have to call to have the GIC to not renew at maturity. Also have to call if you want interest paid annually. And if you buy a GIC when you are logged into your account you and spouse have to call to make the GIC joint.

May 10, 2019
2:37 pm
Briguy
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If you forget to ask them not to renew, they are pretty lenient about letting you cash it in up to about a month later after renewal, but of course you will lose the month's interest. Their customer service reps are very good.

May 10, 2019
3:00 pm
Bill
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And if you've brought money in you can phone them and they'll remove the hold immediately if you use it to buy a GIC.

May 10, 2019
3:52 pm
GICinvestor
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Yes I agree with what all is said in this thread. There are only 4 people on the phones. And recently spoke to Jonathan and Stephen....both great to speak to, knowledgeable and thorough.

While some folks have negativity about the private ownership of PT and I say baloney to those remarks. Just don't go beyond CDIC coverage and you will be ok.

I assume most of us here are investing for GIC rates and have more than one FI, so for now they are a keeper and maybe for the long term and just a accept their lulls. I was phasing them out as their rates had been in the basement for the last year or so but hopefully they will remain competitive.

PT is good for me, for estate planning, as I also live in BC.

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