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Hubert GIC rates up again May 13
May 12, 2022
7:08 pm
rhvic
Victoria, BC
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Got this in an email from Hubert:
------------------------
Rate Update

Effective Friday, May 13, our rates (both registered and non-registered) are changing.

Our term rates (effective May 13)

1-year term - 2.65% average

2-year term - 2.85%

3-year term - 3.05%

4-year term - 3.35%

5-year term - 3.55%

Quarterly breakdown of our 1-year term (effective May 13)

The first three months: 2.50%

Months four to six: 2.60%

Months seven to nine: 2.70%

The last three months: 2.80%
-----------------------------

May 12, 2022
8:36 pm
frugal lady
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It's about time but still at the bottom of the totem pole.sf-frown

May 12, 2022
8:41 pm
Dean
Valhalla Mountains, British Columbia
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.
Improvements for sure ... but unlike the old days, Hubert will still remain Far down the GIC rates comparison chart.

The Up side is, their quarterly-cashable 1yr GIC remains attractive, as the First 3 Months now yields 2.50% ❗

    Dean

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

May 12, 2022
8:55 pm
phrank
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Sure their customer service is good, but that won't grow money on my tree's.

Pretty pathetic rates all around with their 5 year rate barely beating 1 year rates from the leaders and way over 20% lower than competitors 4 & 5 year rates.

May 13, 2022
1:28 am
cgouimet
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Dean said
.
Improvements for sure ... but unlike the old days, Hubert will still remain Far down the GIC rates comparison chart.

The Up side is, their quarterly-cashable 1yr GIC remains attractive, as the First 3 Months now yields 2.50% ❗

    Dean

  

Quite good for a 3-Mo GIC. An alternative to 1.5-1.7% HISA's ...

CGO
May 13, 2022
3:50 am
Jim Sherat
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I'm only with them for the Flex 1-yr GICs, having purchased several [for even nore flexibility] back in Feb. So seems a no-brainier to cash them all in and take the 1.85% for the 1st Qtr, and buy new ones at the new rate.

So for that original 1yr term it means -0.15% for 1 Qtr, and +0.50% for next 3 Qtrs. ... I don't see a downside. Of course, if rate continue to rise as many believe they will, then this scenario may play out once again ?

May 13, 2022
4:00 am
cgouimet
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Jim Sherat said
I'm only with them for the Flex 1-yr GICs, having purchased several [for even nore flexibility] back in Feb. So seems a no-brainier to cash them all in and take the 1.85% for the 1st Qtr, and buy new ones at the new rate.

So for that original 1yr term it means -0.15% for 1 Qtr, and +0.50% for next 3 Qtrs. ... I don't see a downside. Of course, if rate continue to rise as many believe they will, then this scenario may play out once again ?  

My Hubert $ all in 1-Yr GIC's too. May split upcoming ones between new 2.65% Hubert 1-Yr and some 3.25% Oaken 1-Yr ...

CGO
May 13, 2022
11:06 am
savemoresaveoften
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Hubert 2.5% 3 months more attractive than Tang 2.2%. Now I know for sure I wont accept Tang...

May 13, 2022
12:30 pm
Dean
Valhalla Mountains, British Columbia
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.
But my lingering concern remains . . .

After the 3-way amalgamation is 'Fully' completed (sometime next year?), will Hubert Financial even exist anymore ❓

For me, that's . . .

    Dean

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

May 13, 2022
12:38 pm
cgouimet
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TBD ...

Until then, the quarterly 1 Year GIC's may make sense as an alternative to HISA's ...

CGO
May 13, 2022
2:36 pm
Loonie
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If the Hubert brand disappears, which i think is likely, the GIC you bought through them will still be valid. However, if you choose to cash it in before the year is up, it might not be possible to buy another one that is structured the same way.

If I had anything to do with it, I'd keep Hubert intact and get rid of Accelerate. I hope they have the wits to do so.

May 13, 2022
4:07 pm
KamWest
Toronto
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savemoresaveoften said
Hubert 2.5% 3 months more attractive than Tang 2.2%. Now I know for sure I wont accept Tang...  

I will probably take the 2.5% for 3 months when my other 3 month term is up at Hubert. I locked it in at 1.8% previous.

May 14, 2022
9:58 am
Dean
Valhalla Mountains, British Columbia
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Loonie said

If the Hubert brand disappears, which i think is likely, the GIC you bought through them will still be valid. However, if you choose to cash it in before the year is up, it might not be possible to buy another one that is structured the same way.

If I had anything to do with it, I'd keep Hubert intact and get rid of Accelerate. I hope they have the wits to do so.  

.

      Ditto ⬆ ❗

It's interesting to note that with only one small exception, the Hubert & Accelerate rates are exactly the same now . . .

As many are guessing, the plan is probably to fold them into One online FI. As I've recently noticed some slight/minor improvements in the Hubert site (improved selection lists, etc.), it may be that Hubert Financial is being prepped to absorb Accelerate.

Fingers Crossed sf-smile

    Dean

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

May 14, 2022
10:02 am
cgouimet
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The self-serve renaming of accounts now works too ...

CGO

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