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Another Hubert rate drop as of Oct. 29
October 28, 2020
12:28 pm
rhvic
Victoria, BC
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Rate Update

Our daily savings and term rates are decreasing on Thursday, October 29. The rates will be updated on our website in the morning.

Our new rates will be:

Daily savings - 1.30%

1-year term - 1.40% average

2-year term - 1.50%

3-year term - 1.60%

4-year term - 1.70%

5-year term - 1.80%

October 28, 2020
12:36 pm
Dean
Slocan Valley, West Kootenays, British Columbia
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.
How Low will they go ❓❗

Sad sf-frown

    Dean

sf-cool " Live Long And Prosper " sf-cool

October 28, 2020
1:00 pm
topgun
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rhvic said
Rate Update

Our daily savings and term rates are decreasing on Thursday, October 29. The rates will be updated on our website in the morning.

Our new rates will be:

Daily savings - 1.30%

1-year term - 1.40% average

2-year term - 1.50%

3-year term - 1.60%

4-year term - 1.70%

5-year term - 1.80%  

Competitive with my MB CU.

Have a Great Day

October 28, 2020
1:59 pm
Briguy
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I have a GIC maturing Oct 31 and they wouldn't hold the rate for 2 days for me. Are all FIs getting like that nowadays ?

October 28, 2020
2:53 pm
Dean
Slocan Valley, West Kootenays, British Columbia
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Briguy said

I have a GIC maturing Oct 31 and they wouldn't hold the rate for 2 days for me. Are all FIs getting like that nowadays ?  

A similar thing happened to me with Oaken a couple of months ago ... they didn't want to hold the rate for me, and it was only for one (1) day.

After calling back and talking to a supervisor for almost 15min, they finally caved and gave me the higher, expiring rate. Requesting "a little discretion", seemed to do the trick.

'Carpe Diem'

      Dean

sf-cool " Live Long And Prosper " sf-cool

October 28, 2020
4:44 pm
topgun
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Dean said

A similar thing happened to me with Oaken a couple of months ago ... they didn't want to hold the rate for me, and it was only for one (1) day.

After calling back and talking to a supervisor for almost 15min, they finally caved and gave me the higher, expiring rate. Requesting "a little discretion", seemed to do the trick.

'Carpe Diem'

      Dean

  

I found an Ontario CU that said they would hold the special term rate for 45 days on Monday. When I started in 2018 they said they would hold the rate for 30 days. I went searching for extra cash to buy a 120 day term deposit. After 15 days I called them and purchased the 120 day term. I actually gave them too much. It was tight cashflow for some time. Life is a learning process. Every day. I have a GIC maturing 29th. I will transfer to HISA until January when I will merge with other funds. Maybe I should see if they will hold the rate for 30-45 days.

Have a Great Day

October 28, 2020
6:27 pm
pennysaver1
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Briguy said
I have a GIC maturing Oct 31 and they wouldn't hold the rate for 2 days for me. Are all FIs getting like that nowadays ?  

Couldn’t you buy the GIC now to get the current rate and fund it after your existing GIC matures? I’ve done that before with Hubert, I believe they allow something like up to 30 days to fund a GIC after opening it

(I couldn't find that information anywhere on their website though, someone might want to check with a rep to confirm the exact number of days, but I've definitely funded a GIC within 2 weeks of opening it before)

October 28, 2020
6:49 pm
Briguy
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pennysaver1 said

Couldn’t you buy the GIC now to get the current rate and fund it after your existing GIC matures? I’ve done that before with Hubert, I believe they allow something like up to 30 days to fund a GIC after opening it

(I couldn't find that information anywhere on their website though, someone might want to check with a rep to confirm the exact number of days, but I've definitely funded a GIC within 2 weeks of opening it before)  

It's a GIC within a RRSP so I can't contribute to new RRSP funds as I'm at max for the year so this would put me over. But that's a great idea, thanks for suggesting.

October 28, 2020
8:31 pm
topgun
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Briguy said

It's a GIC within a RRSP so I can't contribute to new RRSP funds as I'm at max for the year so this would put me over. But that's a great idea, thanks for suggesting.  

Do you put the extra $2,000 in RRSP for overcontribution?

Have a Great Day

October 28, 2020
8:45 pm
Peter
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October 29, 2020
6:59 am
pooreva
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When should we expect 1%?

October 29, 2020
7:57 am
topgun
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pooreva said
When should we expect 1%?  

Do not rush. One day at a time. Enjoy the moment.

Have a Great Day

October 29, 2020
11:59 am
hwyc
GTA
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pooreva said
When should we expect 1%?  

… It's already on the HISA chart sf-frown

October 29, 2020
3:22 pm
Briguy
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topgun said

Do you put the extra $2,000 in RRSP for overcontribution?  

That's another great idea! Unfortunately I'm already at max overcontribution !! It's only 0.1% difference so I'm just going to suck it up. I was thinking of transferring 10,000 of it to Saskatchewan Pension Plan but decided to just continue with Hubert.

October 31, 2020
4:01 am
Briguy
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I just realized I could have probably created a new RRSP account at Hubert before the rate went up, and left it unfunded at the old rate for a few days, then transferred the money over today. I accidentally created some extra unfunded RRSPs at the new 1.8 % rate, so I'll see what rate they show next time rates go down.

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