Scotiabank - US Dollars - 2.52% on 1-year GIC (rate special) | GIC Discussions | Discussion forum

Please consider registering
guest

sp_LogInOut Log In sp_Registration Register

Register | Lost password?
Advanced Search

— Forum Scope —




— Match —





— Forum Options —





Minimum search word length is 3 characters - maximum search word length is 84 characters

No permission to create posts
sp_Feed Topic RSS sp_TopicIcon
Scotiabank - US Dollars - 2.52% on 1-year GIC (rate special)
October 15, 2018
4:12 pm
Blue
Member
Members
Forum Posts: 20
Member Since:
March 5, 2018
sp_UserOfflineSmall Offline

Not sure how much interest there is in US dollar GICs. But Scotiabank's rate special is back. They had it previously in the summer, but I had missed it by a week or so back then. Since then, I've been checking every month, and now finally it's back. 2.52% on a 1-year GIC. Minimum investment is US$1,000. Straight up, no gimmicks or strange calculations. You have to go into a branch to do this with one of their financial advisor reps. It is not advertised on any web site, as far as I'm aware. I bought one today. Was done very quickly.

Scotia boasted that they're the leader in the 1-year US$ GIC in Canada. And it seems so. This beats Tangerine at 2% for the 1-year US$ GIC. And it even beats Canadian Western Bank which is 2.4% of the 1-year US$ GIC. Otherwise Canadian Western is the leader for the 2 to 5 year terms US$ terms (see http://www.cwbank.com/investin.....gics/rates). But note that for Canadian Western you have to go into a branch, so it means you have to be out West to get those rates.

If anyone can find higher US$ rates, then please post.

October 15, 2018
6:21 pm
Loonie
Member
Members
Forum Posts: 4608
Member Since:
October 21, 2013
sp_UserOfflineSmall Offline

FWIW, there are State of Israel bonds which pay significantly better.
They have never defaulted.
There are some minimum requirements.
https://www.israelbonds.ca/bonds-rates/

October 15, 2018
7:22 pm
hotmony
Member
Members
Forum Posts: 201
Member Since:
February 20, 2018
sp_UserOfflineSmall Offline

Dont see 1yr israel rate
Scotia has been the leader on the cdn gic side for about 5yrs

October 15, 2018
8:06 pm
Loonie
Member
Members
Forum Posts: 4608
Member Since:
October 21, 2013
sp_UserOfflineSmall Offline

No, Israel doesn't have a one-year rate.
IMO, they are suitable for some of their 5 year rates.

October 17, 2018
9:37 am
Johnny CASH
Member
Members
Forum Posts: 7
Member Since:
July 12, 2018
sp_UserOfflineSmall Offline

RBC 3% on 1 yr GIC-USD

October 17, 2018
11:40 am
Bruford
Member
Members
Forum Posts: 27
Member Since:
August 10, 2018
sp_UserOfflineSmall Offline

RBC 3% on 1 yr GIC-USD

link please?

October 17, 2018
4:06 pm
Blue
Member
Members
Forum Posts: 20
Member Since:
March 5, 2018
sp_UserOfflineSmall Offline

Johnny CASH said
RBC 3% on 1 yr GIC-USD  

That's great. Is it like Scotia, a financial advisor offer that you have to specifically ask for? I would be interested in getting that.

October 17, 2018
7:25 pm
Johnny CASH
Member
Members
Forum Posts: 7
Member Since:
July 12, 2018
sp_UserOfflineSmall Offline

Yes RBC offer you need to ask for. It started Monday. 6 months 2.5
9 months 2.75
12 months 3%

October 17, 2018
9:36 pm
Blue
Member
Members
Forum Posts: 20
Member Since:
March 5, 2018
sp_UserOfflineSmall Offline

Johnny CASH said
Yes RBC offer you need to ask for. It started Monday. 6 months 2.5
9 months 2.75
12 months 3%  

Great, thank you Johnny Cash. I'll go in. Since USD deposits aren't CDIC protected, it's good to have these multiple options to spread deposits around. The Big Banks are fighting for deposits now, and we're benefiting!

October 17, 2018
9:56 pm
hotmony
Member
Members
Forum Posts: 201
Member Since:
February 20, 2018
sp_UserOfflineSmall Offline

rbc us$ mmf about 2.2% creepin up exp. ratio a bit over 25bps

October 18, 2018
7:12 am
yalewon
Newbie
Members
Forum Posts: 2
Member Since:
January 6, 2017
sp_UserOfflineSmall Offline

Johnny CASH said
Yes RBC offer you need to ask for. It started Monday. 6 months 2.5
9 months 2.75
12 months 3%  

Thanks Johnny Cash, just confirmed with RBC. Gonna sell all my CIB 483 mutual fund and redeem my Tangerine US GIC and put all into this RBC 3% 12 month term deposit.

October 18, 2018
12:05 pm
Bruford
Member
Members
Forum Posts: 27
Member Since:
August 10, 2018
sp_UserOfflineSmall Offline

ScotiaBank
1 yr 2.52% (only till Oct 31)
3 yr 2.72%
5 yr 2.97%

RBC
2.5% 6 month
2.75% 9month
3.0% 1 year

All confirmed by phone

October 18, 2018
5:46 pm
hotmony
Member
Members
Forum Posts: 201
Member Since:
February 20, 2018
sp_UserOfflineSmall Offline

I'm still thinkin we could hit a low on the loon 72 or 73 then up a more profitable trade than the one

October 19, 2018
5:36 am
anusa
Newbie
Members
Forum Posts: 2
Member Since:
October 19, 2018
sp_UserOfflineSmall Offline

Bruford said
ScotiaBank
1 yr 2.52% (only till Oct 31)
3 yr 2.72%
5 yr 2.97%

RBC
2.5% 6 month
2.75% 9month
3.0% 1 year

All confirmed by phone  

Do I just have to call the 1-800 number and ask for it?

October 19, 2018
9:31 am
Bruford
Member
Members
Forum Posts: 27
Member Since:
August 10, 2018
sp_UserOfflineSmall Offline

A s far as I know, transactions at the branch only, through an investment specialist.

November 1, 2018
6:08 am
Buzz
Member
Members
Forum Posts: 8
Member Since:
December 27, 2016
sp_UserOfflineSmall Offline

Is the fluctuation on USD taxable for GIC? I know high interest savings and term deposits are not.

November 1, 2018
6:34 am
Loonie
Member
Members
Forum Posts: 4608
Member Since:
October 21, 2013
sp_UserOfflineSmall Offline

Buzz said
Is the fluctuation on USD taxable for GIC? I know high interest savings and term deposits are not.  

Just because you don't get a T slip from the bank doesn't mean you don't have to pay tax. Canadians are taxed on all income.
I imagine currency speculators would be frowned upon but don't know how that would work or if it is so.

February 1, 2019
9:20 am
Newcommer_80
Member
Members
Forum Posts: 34
Member Since:
January 31, 2019
sp_UserOfflineSmall Offline

I have a bank account at RBC , I called the investment department to confirm the information above and the financial advisor on the phone was puzzled by the 3% rate I was asking about . He said they never had such a high rate for USD !!!

I wonder whom should i contact to get such a rate? Tangerine is offering 3% on 1 year GIC but i'm afraid of putting all my money in such a small account . I would feel much comfortable if i could find a similar rate at one of the big banks

anybody have any insights of USD GIC accounts

Thanks in advance

February 1, 2019
2:04 pm
Loonie
Member
Members
Forum Posts: 4608
Member Since:
October 21, 2013
sp_UserOfflineSmall Offline

It depends in part on what you ultimately want to do with the money. You need to factor in what you are going to lose because of the exchange conversion - at both ends - if you intend to bring it back to Cdn eventually..

February 1, 2019
5:33 pm
Newcommer_80
Member
Members
Forum Posts: 34
Member Since:
January 31, 2019
sp_UserOfflineSmall Offline

Thanks loonie , actually i moved recently to canada and i opened a us dollar account and moved my money directly to it with going through any exchange . I plan to split it into half canadian and half usd . That is why i was wondering if there is any other options with a similar rate to tangerine ?

No permission to create posts

Please write your comments in the forum.