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Hubert Raises Rates
November 17, 2021
9:20 pm
MG
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Just received this email tonight - the cashable one year term looks interesting!

Hubert.png

November 17, 2021
9:21 pm
GR
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Email text:

Rate Update

We're excited to share that effective Thursday, November 18, our term deposit rates (both registered and non-registered) are increasing.

Our term rates (effective November 18) are as follows:

1-year term - 1.50% average

2-year term - 1.60%

3-year term - 1.95%

4-year term - 1.80%

5-year term - 2.20%

The quarterly breakdown of our 1-year term will be as follows:

The first three months: 1.35%

Months four to six: 1.45%

Months seven to nine: 1.55%

The last three months: 1.65%

November 18, 2021
9:35 am
Dean
Valhalla Mountains, British Columbia
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.
Those new rates all constitute significant increases ❗
Source https://www.highinterestsavings.ca/profile/hubert-financial/gic-rate-history/

But I keep reminding myself that we can't forget about Canada's most recent inflation rate; October @ 4.70%.

    Eg: (1 Year Rate @ 1.50%) - (Inflation @ 4.70%) = -3.20%

We're going Backwards ... Real Fast sf-confused

    Dean

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

November 19, 2021
8:02 am
Bill
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Even faster than your calculation, Dean, if you have to pay any taxes on your 1.5% rate!

November 19, 2021
8:31 am
pooreva
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Grab 1.5% while it is still there. Remember EQ's offer for 3 months 1.5%? It lasted about 2-3 weeks...

November 19, 2021
11:33 am
Loonie
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One year rates at the deposit brokers have all fallen a bit this week although still higher than Hubert.

November 20, 2021
6:49 am
RetirEd
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November 18, 2017
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Remember, folks, that compounded (not but not interest-payout) escalator terms will pay less than the "average" term rate because the earliest (lowest) interest payments will provide less interest to compound than later (higher) ones. Always do the math year by year to get the total earned interest.
RetirEd

November 20, 2021
2:19 pm
Dean
Valhalla Mountains, British Columbia
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Dean said
.
Those new rates all constitute significant increases ❗
Source https://www.highinterestsavings.ca/profile/hubert-financial/gic-rate-history/

But I keep reminding myself that we can't forget about Canada's most recent inflation rate; October @ 4.70%.

    Eg: (1 Year Rate @ 1.50%) - (Inflation @ 4.70%) = -3.20%

We're going Backwards ... Real Fast sf-confused

    Dean

  

Bill said

Even faster than your calculation, Dean, if you have to pay any taxes on your 1.5% rate!  

.
Taxes (and death) go without saying, but a reminder never hurts.

Sadly ... in the end, we're all just a bunch o' Losers. sf-frown

    Dean

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

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