Hubert Financial rate increase 2.50% as of 2018-11-02 | Hubert Financial | Discussion forum

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Hubert Financial rate increase 2.50% as of 2018-11-02
November 2, 2018
4:17 am
SG
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Logged into my Hubert Financial accounts this morning and noticed the Savings and TFSA accounts are both showing 2.50% up from 2.35% as of this morning.

Assuming later today it will be updated on the website.

November 2, 2018
5:37 am
Nehpets
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Hope Hubert 's GIC Rates follow with increases as well.

Stephen

November 2, 2018
5:57 am
Loonie
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Me too.

If you go to "Add accounts" page after login, you will see changes in rates for GICs as well.

12 Month Term- Interest Pays Quarterly 2.80%**
High Interest Term 24 month 2.90%
High Interest Term 36 month 3.00%
High Interest Term 48 month 3.25%
High Interest Term 60 month 3.50%
** Above rate is the initial rate and the quarterly escalating rates will display on next page.

This likely means an average rate for the one year GIC of 2.95%, slightly higher compounded quarterly.

November 2, 2018
6:57 am
Yatti420
Canada
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RATE UPDATE
We’re happy to share that as of this morning, our interest rates have changed. This includes our high-interest savings rate, which is now 2.50%. Our term rates are as follows:

2-year term - 2.90%
3-year term - 3.00%
4-year term - 3.25%
5-year term - 3.50%

As usual, you can use these rates for TFSAs, GICs, RRSPs and RRIFs.

VIEW RATES

Questions?
If you have any questions or if you would like to start a term, give us a shout. We can be reached by phone at 1-855-4HUBERT (1-855-448-2378), or by email at hubert@happysavings.ca. We’re happy to help!

Sincerely,

Hubert Financial

233 Main Street
Selkirk Manitoba R1A 1S1
CANADA

November 2, 2018
7:51 am
Loonie
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This update does not show any change in the one year rate, but the change does still show when you log in. Perhaps will be updated later.

November 2, 2018
8:29 am
gicjunkie
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The one year rate has been updated:
The first three months: 2.80%.
Months four to six: 2.90%.
Months seven to nine: 3.00%.
The last three months: 3.10%

Averages out to 2.95% before compounding

November 2, 2018
8:36 am
Winnie
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gicjunkie said
The one year rate has been updated:

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

Averages out to 2.85%, without compounding.  

No, it should be:

The first three months: 2.80%.
Months four to six: 2.90%.
Months seven to nine: 3.00%.
The last three months: 3.10%.

Averages out to 2.95%

November 2, 2018
10:16 am
Loonie
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Winnie is correct. as to what the rate should be.
The rate gicjunkie quotes is the rate that has been in effect since August.
It's confusing! It would have been better if they'd done it all at once.

November 2, 2018
10:31 am
Loonie
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Hubert's website has now been updated for the one year rate as follows:

"The even better news? If you sign up and keep your funds in place for the entire year, you’ll earn an average rate of 2.95% for the year (with compounded interest). Not too shabby, is it? Here’s what you will earn:

The first three months: 2.80%.
Months four to six: 2.90%.
Months seven to nine: 3.00%.
The last three months: 3.10%."

November 2, 2018
11:00 am
gicjunkie
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Winnie said

No, it should be:

The first three months: 2.80%.
Months four to six: 2.90%.
Months seven to nine: 3.00%.
The last three months: 3.10%.

Averages out to 2.95%  

FYI When I first went into the site the rates were as stated above, but when I rechecked the rates, they had been updated, so I amended my post. You must have seen my post prior to the amendment. Sorry, but sometimes I am not as swift as the rest of you.

November 2, 2018
1:13 pm
SG
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Hubert was too late for me. I opened a 1 yr term deposit at Alterna at 3% earlier this week.

November 2, 2018
1:36 pm
frugal lady
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Hubert's one year needs to be updated on the GIC chart to 2.95%

November 4, 2018
4:09 pm
techno
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If you want to terminate a term deposit, can you do it yourself online or do you have to call / chat with them? Thanks.

November 4, 2018
5:34 pm
Loonie
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You can do it yourself online.
If it's in a registered account, you would be better to phone them and have them walk you through it so that you don't accidentally de-register.
They will stay on the line with you but they expect you to do it yourself.

November 6, 2018
7:47 am
BillieBob
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Loonie said
You can do it yourself online.
If it's in a registered account, you would be better to phone them and have them walk you through it so that you don't accidentally de-register.
They will stay on the line with you but they expect you to do it yourself.  

How does one terminate a term deposit online with Hubert? That option doesn't seem to be available to me when I am logged in. Thanks in advance.

November 6, 2018
4:31 pm
gicjunkie
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First of all , the one year GIC, with interest payable quarterly is cashable.
Second, when I tried to terminate my one year GIC, I was told it had to be done by a representative. It could not be done online. Maybe that has changed, but I could not do it myself back in October. I should clarify that the GIC I could not cash myself was in a TFSA.

November 6, 2018
4:45 pm
Winnie
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Correct. If you want to terminate a term deposit before maturity date, you have to call. It could not be done online.
At maturity it will be deposited to you account with interest or automatically renewed for a new term, depends on your maturity instructions.

November 7, 2018
5:02 am
Loonie
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BillieBob said

How does one terminate a term deposit online with Hubert? That option doesn't seem to be available to me when I am logged in. Thanks in advance.  

I must confess that I've not actually done it, but I have sat here and listened while spouse did it more than once, most recently in September. So I am reporting on what I heard. The GICs in question were always in registered plans. It didn't sound at all complicated, but I don't remember all the specifics. I do remember spouse being told that Hubert would not do it themselves, although I suppose they would if necessary. As I recall, it wasn't so much that you were looking to "terminate" the GIC per se; rather you were "transferring" it to savings. So perhaps you are looking for the wrong option?

I can't explain why other people have had different experiences. Spouse has done this perhaps 3 times over the last year or so in order to upgrade to new rates, and the message has always been the same.

Please write your comments in the forum.