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Disappointed by Hubert's low rates
November 21, 2022
7:56 am
LeBronBMT
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It's a good time for GIC savers right now, yet Hubert's rates are lacking. Hubert only has one offering of 5% (5.1% on their 5 year term). What gives? A lot of other favorites on this forum have stepped up. It's surprising to see Hubert offer lower rates than EQ.

November 21, 2022
8:55 am
pooreva
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Hubert has other benefits other do not have. They cannot be the first in everything.

I have a deal for you: Would you be interested in a bank offering 15% on 100 years compounded, non-redeemable GIC, payable only to YOU on maturity?

November 21, 2022
9:13 am
mmlt
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It would be nice to have it all. I'm willing to sacrifice a little for the exceptional customer service Hubert gives. (I hope they don't read this)

November 21, 2022
9:25 am
Dean
Valhalla Mountains, British Columbia
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LeBronBMT said

It's a good time for GIC savers right now, yet Hubert's rates are lacking. Hubert only has one offering of 5% (5.1% on their 5 year term). What gives? A lot of other favorites on this forum have stepped up. It's surprising to see Hubert offer lower rates than EQ.  

As long as Hubert stays in the top 1/4 of the Chart (or very close to it),
that's fine with me.

And if you don't like an FI's rates, do what most of the rest of us do,
. . . Go Shopping ❗

My Two Centavos sf-wink

    Dean

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

November 21, 2022
2:12 pm
Loonie
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No FI is at the top of the heap all the time. Hubert, like any FI, has to do what's best for their business.

November 21, 2022
2:23 pm
Norman1
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And it is not in any financial institution's business interest to have deposit money come in faster than they can lend the money out.

If a two-year GIC rate of 4.6% brings in funds at the right pace for Access CU through its Hubert channel, then that is what Hubert's two-year GIC rate will be.

There's actually no prize for Access CU or any financial institution for having its GIC rates appear at the top of a rate chart when the financial institution doesn't need to increase its deposit flow.

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