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Email this11:50 pm
February 7, 2019
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Effective Friday, April 1, our rates (both registered and non-registered) are changing.
Our term rates (Effective April 1):
1-year term - 2.00% average (NEW)
2-year term - 2.00%
3-year term - 2.20%
4-year term - 2.35% (NEW)
5-year term - 2.60% (NEW)
Quarterly breakdown of our 1-year term (effective April 1):
The first three months: 1.85%
Months four to six: 1.95%
Months seven to nine: 2.05%
The last three months: 2.15%
| CGO |
5:06 am
January 1, 2018
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Interesting that the drop for 1yr from 2.0 > 1.80 only lasted a mere 3 weeks ! Makes you wonder what changed in that short period to drive this reversal ?
6:57 am
September 7, 2018
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Jim Sherat said
Interesting that the drop for 1yr from 2.0 > 1.80 only lasted a mere 3 weeks ! Makes you wonder what changed in that short period to drive this reversal ?
Truly that was an amateur decision. Rates were going up at the time and Hubert decided to drop their rate. Likely there was enough of an outflow of funds that Hubert saw the light and reversed their decision.
8:20 am
September 11, 2013
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Financial institutions' needs for inflows or outflows of funds with varying lengths of maturity change from week to week, or even less, I'd imagine, not so unusual to calibrate related rates as needed.
4:59 pm
November 18, 2017
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It's possible that some bank planners wanted to push depositors to choose the longer terms with a lower 1-year rate. We're seeing a lot of lenders making longer terms surprisingly attractive to mail down funds that might flee for higher rates elsewhere, or renew in the same place at higher rates. Even the big banks have been rivaling the best rate providers they never competed with in recent years.13
RetirEd
RetirEd
10:34 am
March 30, 2017
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I called in to leave instruction to cash out some of the quarterly coming up soon.
Was told they will be sending out new promo rates (or better rates than current) very soon.
6:42 pm
February 16, 2013
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Just received this email from Hubert. I will need to check my next quarterly anniversary date so I can be ready to switch over. I like the flexibility of being able to cash in quarterly.
7:52 pm
July 6, 2019
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Just saw the latest email with rate update as well, it's too bad I just bought a 1 year GIC about a week ago :/ Does anyone know if Hubert would apply the new rate retroactively to a recently purchased GIC (similar to Oaken) if asked? Has anyone ever tried this?
I suppose I could redeem it now and repurchase, but I would hate to lose the interest gained so far..
9:17 pm
April 6, 2013
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Sometimes, it is better to lose a bit to end up with more in the end.
Which would be more in the end?
- Earning 0% for the past one week and then 2.1% for the rest of the three months.
- Earning 1.85% for the three months.
9:26 pm
April 14, 2021
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I bought the 2%-avg rate on Jan 1, so the first three months were 1.85% and the next three were supposed to be 1.95%
Apr 1 ended the first quarter, so I will definitely be re-purchasing for the 2.10% quarter
1:02 am
February 7, 2019
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Norman1 said
Sometimes, it is better to lose a bit to end up with more in the end.Which would be more in the end?
- Earning 0% for the past one week and then 2.1% for the rest of the three months.
- Earning 1.85% for the three months.
Cashing in at the 7-day mark for $0 interest so as to improve the interest for the balance of the quarter from 1.85% to 2.1% will improve your earnings by about 21.5¢ per $1000.
Similarly, cashing in at the 7-day mark for $0 interest so as to improve the interest for the balance of the year from 2.0% to 2.25% will improve your earnings by about $2.05 per $1000.
| CGO |
5:30 am
December 27, 2021
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I have a number of 2% 1 year term GIC's at day 24. While it makes sense to cash in Monday and move to the 2.25%, with the Bank of Canada expected to raise rates by 50bps on Thursday April 13 I assume Hubert will be increasing rates again next week.
Is it typical for Hubert to raise rates in close alignment with BoC increases?
8:04 am
February 7, 2019
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MAC99 said
Is it typical for Hubert to raise rates in close alignment with BoC increases?
I don't think so. Not that reliably anyways.
But since you're relatively new here, here's a learning exercise ...
Follow the "Profiles " link at the top of this page. Then, select Hubert. Follow the the "GIC rate history" link and then compare that history to the BoC history ...
| CGO |
9:57 am
October 21, 2013
Online
To assess whether it makes sense to cash out mid-quarter is not just a question of the rate during that quarter. When you buy the GIC, you are also guaranteeing that you can have the rates in effect for the remaining quarters if you don't cash it later. Those are also bumped up by your re-purchase. Not easy to evaluate as we never know what's coming, but worth thinking about.
10:36 am
October 15, 2015
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I just saw peoples trust is 2.4% for one year. This doesn’t look good in comparison.
11:21 am
February 7, 2019
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christinad said
I just saw peoples trust is 2.4% for one year. This doesn’t look good in comparison.
And EQ Bank @ 2.50%, Tangerine @ 2.35% and Oaken @ 2.25%. But, only Hubert offers that rate cashable quarterly ...
| CGO |
11:45 am
December 27, 2021
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cgouimet said
And EQ Bank @ 2.50%, Tangerine @ 2.35% and Oaken @ 2.25%. But, only Hubert offers that rate cashable quarterly ...
The cashable quarterly feature is certainly a nice option to have!
I think with a pending 50bps hike this week, these rates will all be increased again. I’m going to sit in the 1.4% savings account in the interim.
5:03 pm
February 4, 2017
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pennysaver1 said
Just saw the latest email with rate update as well, it's too bad I just bought a 1 year GIC about a week ago :/ Does anyone know if Hubert would apply the new rate retroactively to a recently purchased GIC (similar to Oaken) if asked? Has anyone ever tried this?I suppose I could redeem it now and repurchase, but I would hate to lose the interest gained so far..
You should ask. I find them very accommodating. I bought a Gic last Friday and the rate increased Sat. A quick call this morning and all was good.
My local CU is a PITA compared to Hubert.
5:22 pm
February 7, 2019
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pennysaver1 said
Just saw the latest email with rate update as well, it's too bad I just bought a 1 year GIC about a week ago :/ Does anyone know if Hubert would apply the new rate retroactively to a recently purchased GIC (similar to Oaken) if asked? Has anyone ever tried this?I suppose I could redeem it now and repurchase, but I would hate to lose the interest gained so far..
You should do the math ...
| CGO |
5:47 pm
July 6, 2019
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mmlt said
You should ask. I find them very accommodating. I bought a Gic last Friday and the rate increased Sat. A quick call this morning and all was good.
My local CU is a PITA compared to Hubert.
Yes sorry I didn't provide an update on this, so I did call over the weekend and was told that unfortunately they don't apply new rates retroactively to previously purchased GICs, so I took everyone's input into consideration and decided to cash it in. I will likely re-purchase within the next few days/weeks as I anticipate there may be another increase in the near future.
And thanks everyone for the friendly advice and insight, really appreciate it! 🙂
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