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2018 08 02 Rate Increases
August 2, 2018
6:28 am
Nehpets
Ontario
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According to Globe Investor and Cannex, Hubert GIC rates are increased as of this morning, although Hubert website has not been updated as of this posting.

One to five years:
2.85; 2.70; 2.80; 3.25; 3.35

Previously:
2.55; 2.65; 2.75; 3.25; 3.15

Apparently no change for the four year rate.

Stephen

August 2, 2018
6:37 am
GR
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Nehpets said
According to Globe Investor and Cannex, Hubert GIC rates are increased as of this morning, although Hubert website has not been updated as of this posting.

One to five years:
2.85; 2.70; 2.80; 3.25; 3.35

Previously:
2.55; 2.65; 2.75; 3.25; 3.15

Apparently no change for the four year rate.

Stephen  

Also, Hubert's savings account interest rate is increasing to 2.35% p.a.

It should be pointed out that their 1 year rate is for a redeemable GIC, unlike other financial institutions and that 2.85% is the rate if held to maturity. Interest increases every 3 months and is compounded.

August 2, 2018
7:33 am
Nehpets
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Thanks for noticing the Svgs Acct rate increase GR!

Hubert website now updated with increased rates

Stephen

August 2, 2018
10:21 am
Johnny CASH
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This mornings email from Hubert.

Hey there!

The sun is shining, the birds are singing, and our rates are changing. Happy summer!

Effective today, August 2, you’ll be smiling (and saving) bigger with our Happy Savings account, Tax Free Savings account, and RRSPs all which now have an interest rate of 2.35%.

And that’s not all! Our term deposit rates are also climbing. You’ll save even more with our two-year term (2.70%), our three-year term (2.80%), and our five-year term (3.35%). Our four-year term remains at 3.25%.

Wait, we’re not done yet! Our one-year term rates have also changed. Keep your funds in place for an entire year and you’ll earn an average rate of 2.85%. As always, you’re not locked in for the entire year. You can redeem your term after three, six, or nine months. Here’s what you’ll earn.

• The first three months: 2.70%
• Months four to six: 2.80%
• Months seven to nine: 2.90%
• The last three months: 3.00%

Learn more about our rates here. If you have any questions, we are (almost!) always here to help. See our hours of operation here.

August 2, 2018
1:57 pm
moneyhelp
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I love this, but I wonder if they will ever increase their US interest rate sf-confused

August 2, 2018
2:30 pm
Nehpets
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moneyhelp said
I love this, but I wonder if they will ever increase their US interest rate sf-confused  

Likely not, since their U.S rate is the highest in Canada, to my knowledge, and it's perhaps that way as a loss leader for other deposits. In addition, U.S. deposits are covered by the Deposit Guarantee Corporation of Manitoba.

Their exchange rate is sometimes better than other sources on the market...worth checking and having funds available in your CDN account for a quick transaction when needed.

Stephen

August 2, 2018
9:08 pm
Joe
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moneyhelp said
I love this, but I wonder if they will ever increase their US interest rate sf-confused  

TD bank money market fund TDB8152 is paying 1.2% USD. I buy in/out using my TD brokerage account (no charge)....I'm sure most banks have their own MMF paying the same. I use to park USD at Hubert up until about 9 mths ago.

August 3, 2018
7:49 am
Nehpets
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Joe said
TD bank money market fund TDB8152 is paying 1.2% USD 

Joe,

I appreciate that information! I transferred USD funds from TD MMF to Hubert a while back when TD was paying nothing, but was unaware the rate improved.

Transferred back, thanks to your feedback!

Stephen

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