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Email this9:25 am
December 20, 2016
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While purchasing some GIC's through my GIC broker today, I was informed that both Bridgewater and IC Savings will match the GIC rate of whichever issuer happens to offer the highest rate..today being Home Bank at 2.55%
A handy alternative for an investor who is maxed out with Home Bank / Home Trust.
Stephen
2:52 pm
October 21, 2013
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From the Bridgewater sub-forum:
Koogie said
For anyone who might be interested, Bridgewater Bank is offering a 3% five year GIC through deposit broker channels right now.They are CDIC members.
Did your broker mention this, Stephen? I couldn't find any evidence of it at ratesupermarket, but didn't inquire. I did find a 3.0 rate at gicwealth.com but don't know who was offering it.
I think we'd all like 3 more than 2.5, if we can get it.
5:18 pm
November 7, 2014
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I am pretty sure the GICWealth 3.00% rate is with Home Bank. The main question is, if Bridgewater and IC will match any rate, why won't they match the 3.25% at Oaken, or do they just match the broker rate of 3.00%?
6:39 am
November 19, 2014
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gicjunkie said
I am pretty sure the GICWealth 3.00% rate is with Home Bank.
It is with either Bridgewater or Home Bank.
10:33 am
December 20, 2016
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Loonie said
Did your broker mention this, Stephen? I couldn't find any evidence of it at ratesupermarket, but didn't inquire. I did find a 3.0 rate at gicwealth.com but don't know who was offering it.I think we'd all like 3 more than 2.5, if we can get it.
Yes, this came from the broker, and, I took advantage of the Bridgewater offer.
Oaken GIC's are not sold by my broker, but Home Trust and Home Bank GIC's that are designated as "agent" GIC rates are sold by the broker, and it is these rates that are matched.
I suspect the 2.75% + rates offered by Oaken would include some or all of the commission paid to brokers when they sell the "agent" rates, explaining why brokers don't sell "Oaken" GIC's.
I don't think the rate matching policy would be publicly advertised, but would be offered in private communication with one's broker.
Stephen
10:35 am
October 21, 2013
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Koogie said
gicjunkie said
I am pretty sure the GICWealth 3.00% rate is with Home Bank.It is with either Bridgewater or Home Bank.
Just to be clear, do you mean that the client has a choice between BW and HB? or that you aren't sure which one it is? (Might make a difference to people who are already maxed out at Oaken/HB.)
10:55 am
December 20, 2016
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Reference to 3% rate at GIC Wealth is for 5 years.
One year rate is 2.55, which is Home Bank (Agent) most likely. The Home Trust (Agent) rate is currently 2.50% though rate matching may apply.
The published rate for Bridgewater (Moneyguide) is only 2.2%, so it would be worthwhile dealing with a broker who has access to their matching proposals.
11:19 am
November 19, 2014
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Loonie said
Just to be clear, do you mean that the client has a choice between BW and HB? or that you aren't sure which one it is? (Might make a difference to people who are already maxed out at Oaken/HB.)
The client has the choice.
12:35 pm
October 21, 2013
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Good deal!
1:03 pm
December 20, 2016
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Repeated the same rate matching opportunity again today by purchasing more Bridgewater at 2.55% from my broker.
Bridgewater published rate today is 2.2%
Also available as a match to HB was IC Savings, whose published rate is 2.16% today.
It's always worth asking if there is a better offer available
Stephen
10:14 am
November 7, 2014
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Just a "heads up". Spoke to my broker today. He has been told that the Oaken rates will be dropping soon. Bridgewater also may not be matching their rates much longer. It may all be just rumour, but we never really know until it happens. It will take a while for all the BOC and other institutions to raise their rates more so , if you have some spare cash, you may want to invest it sooner, rather than later.
1:11 pm
October 21, 2013
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The brokerage is probably looking at HCG's liquidity statements.
http://www.homecapital.com/pre.....202017.pdf
and
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