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Email this4:44 am
January 26, 2023
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In Jan. 2022 Hubert Financial had the highest GIC rates. Now in Jan 2023 they are near the lowest. Does anyone have any idea why this is?
jhawk124
10:48 am
April 14, 2021
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They were the first to spot/start the trend and are now the first to get out.
10:56 am
April 2, 2018
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Let me know when you find FI having 1year GIC as flexible as Hubert.
11:27 am
October 21, 2013
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They merged with Access CU.
12:07 pm
April 6, 2013
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And Hubert Financial is bringing in the needed amount of deposits for Access CU at the current rates.
12:11 pm
April 14, 2021
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pooreva said
Let me know when you find FI having 1year GIC as flexible as Hubert.
The 1-yr may be flexible, but the price of that flexibility (0.5 - 0.8%) is pretty darned high.
12:29 pm
November 3, 2022
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HermanH said
The 1-yr may be flexible, but the price of that flexibility (0.5 - 0.8%) is pretty darned high.
I don't look at the Hubert product as a one year GIC, but rather a 90 day redeemable GIC. You will not find a better deal for a 90 day GIC in Canada (I think).
I've began holding them in early 2022, and I have yet to let one of these go beyond the 90 day first payment of interest, since the rates have always gone up on this instrument during that period.
12:43 pm
April 14, 2021
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Rail Baron said
I don't look at the Hubert product as a one year GIC, but rather a 90 day redeemable GIC. You will not find a better deal for a 90 day GIC in Canada (I think).
If you are looking at the 90-day rate as beating the savings rate, then I agree that it is a superior product. After all, 90d isn't very long at all.
12:54 pm
September 11, 2013
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Actually in the last year there's been no price for the flexibility, resetting every quarter over the last year has actually earned you more compared to locking in about a year ago.
But I agree, just view it as essentially locking up for 90 days and go from there.
1:53 pm
January 12, 2019
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pooreva said
Let me know when you find FI having 1year GIC as flexible as Hubert.
- This ⬆
At those rates and being cashable every quarter, it's a short-term 'Wonder' ... and that's what most of us use it for.
.
Dean
" Live Long, Healthy ... And Prosper! "
6:52 pm
February 6, 2019
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Rail Baron said
I've began holding them in early 2022, and I have yet to let one of these go beyond the 90 day first payment of interest, since the rates have always gone up on this instrument during that period.
Same here, I have redeemed one today after 90 days just to renew it imediately at a higher rate ... however, I have the feeling that this may be the last one. I might have to let the others for the full 1 year term from now on. Obviously, I wish that I am wrong - which would mean that they will continue raising their 1 year rate.
4:59 am
March 30, 2017
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Given they havent raised the rate for a while and what the BoC is saying, highly unlikely they will bump it higher. In fact, I have one coming up soon and technically still 10bps better off to redeem and renew, hope they dont drop rates too too soon !
6:50 am
January 28, 2015
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Look back over the years GIC rates drop at this time of year its RRSP season lots of money flooding into the market ,thus no need to bump ,but drop. In april rates tend to rise
8:24 am
September 11, 2013
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Makes sense, mechone. I noticed it about 3 - 4 weeks ago, the beginning of downward pressure on GIC rates offered by my various big bank brokerage accounts. Guess we'll see in a few months if it's the seasonal thing or something else like lack of demand for mortgage money, expectation of recession, expectation BoC rates rise is over, money flowing into GICs from markets, etc.
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