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Hsbc 1yr cashable 2.6%
June 2, 2022
8:40 am
AllanB
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Hsbc has a 1yr 2.6% redeemable Gic cashable after 90d with interest, before without.

July 1, 2022
6:59 am
co
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It has been upped to 2.75%.

Enjoy 2.75% per annum on HSBC’s Canadian Dollar redeemable, non- registered GIC*. Offer is available from June 28, 2022 to September 2, 2022.

So is this basically a (redeemable) 90 day GIC for 2.75% then, with an option to continue past 90 days as regular savings at 2.75%?

July 1, 2022
9:06 am
savemoresaveoften
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Cashable or not, it’s a GIC. Rate can change daily. So can HISA technically speaking.

July 2, 2022
1:55 pm
co
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My point being, even though it is a "1 year cashable GIC", I can sign up only with the intention to keep it for 90 days and then cash out with interest, effectively making it a "90 day non-cashable GIC".

And 90 day at 2.75% is not too bad. 1 year at 2.75% is terrible.

July 2, 2022
2:10 pm
Dean
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.
Speaking of 1Yr Cashable GICs, Hubert may have a Better option . . .

.
N'est-ce Pas

    Dean

sf-cool " Live Long, Healthy ... And Prosper! " sf-cool

September 4, 2022
6:17 am
HISAhopper
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Enjoy 4.00% per annum on HSBC’s 1-year Canadian Dollar redeemable, non-registered GIC.*

Limited time offer from September 1, 2022 to October 31, 2022. The special offer is also available for the 1-year TFSA redeemable GIC.

credit to S5 (RFD)
T&C link:
https://www.hsbc.ca/content/dam/hsbc/ca/docs/pdf/hsbc-one-year-gic-tc-en.pdf

Redemption or withdrawal of all or portion of the Special Offers prior to the end of the 1-year term is allowed, subject to the following:
 If the deposit is maintained for at least 90 days, then interest will be paid for the period up to the withdrawal.
 If the principal is withdrawn within the first 89 days, then no interest will be paid.

I am planning to go with this (within CIDC) as 4% is not bad at this point with the option to leave after 90 days. I already have account with them and the branch is close to home. Can the experts in here comment on the offer?

September 4, 2022
8:14 am
co
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I am planning to go with this (within CIDC) as 4% is not bad at this point with the option to leave after 90 days. I already have account with them and the branch is close to home. Can the experts in here comment on the offer?  

Thanks for sharing.

I just open it online. It seems after hours it often give me an error (doesn't hurt to try) but during business hours it always works flawlessly.

I have yet to redeem any of them after 90 days, but I assume if you want to redeem in smaller portions you need to open multiple small redeemable GIC's, which seems to be the norm at least for other banks.

I have probably mentioned this above: I see this as a 3 month GIC at 4% (very attractive IMO) with the option to continue at 4% as "savings" for another 9 month. That option is likely not extremely valuable, though now at 4% it's looking better than ever.

September 4, 2022
11:55 am
HermanH
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HISAhopper said I am planning to go with this (within CIDC) as 4% is not bad at this point with the option to leave after 90 days. I already have account with them and the branch is close to home. Can the experts in here comment on the offer?  

Seems to be less than the similar 1-yr offer available from Hubert for 4.25% quarterly. The first quarter pays 4.1%; slightly better than the 4% at HSBC. Subsequent quarters are even higher.

September 4, 2022
5:08 pm
Hellohello
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Looking for 1yr 5% minimum

September 4, 2022
6:45 pm
HISAhopper
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HermanH said
Seems to be less than the similar 1-yr offer available from Hubert for 4.25% quarterly. The first quarter pays 4.1%; slightly better than the 4% at HSBC. Subsequent quarters are even higher.  

Thanks for the tip about Hubert, I like to have the account in ON for ease of mind, I know I am old school it is just me.

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