Hubert repeats GIC offer on July 21 | Hubert Financial | Discussion forum

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Hubert repeats GIC offer on July 21
July 21, 2014
9:15 am
rhvic
Victoria, BC
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Just got this from Hubert:
------------------
You asked for it... so here it is! Starting July 21 and for a limited time only, we are happy to once again offer a one year term deposit special featuring one of the best rates around. Paying interest up to 2.50%, this term deposit special will keep you smiling for a full 365 days.
This redeemable term deposit special, which is also TFSA eligible, features compounding interest that will pay you interest quarterly. Here's what you will earn:

The first three months: 2.20%
Months four to six: 2.30%
Months seven to nine: 2.40%
The last three months: 2.50%
The good news? You're not locked in for the entire year - you can redeem* your term after three, six or nine months. The even better news? If you sign up for the term special and keep your funds in place for the entire year, you'll earn an average rate of 2.35% for the year. Not too shabby, is it?

Don't miss out (again)! For details, please visit our website or give us a call at 1-855-4HUBERT (1-855-448-2378).

Sincerely,

Hubert

* If you choose to redeem your term special after three, six or nine months, you must redeem the entire amount. Partial withdrawals are not allowed.
--------------

July 21, 2014
4:32 pm
Norman1
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Just in time!

Those 2½%-on-new-deposits offers from Tangerine and PC Financial will be expiring in ten days on July 31.

October 4, 2014
7:54 pm
Jon
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I am surprise this offer is still here, they should have enough deposit by now, it is not wise as a bank/FI run a promotion this long as it hurt their profit, I guess they don't want people to switch to other institution as they all have their promotion now. sf-wink

Hurbert seems to make a bad choice to offer promotion ahead of other institutions, every institution now are all trying to raise their interest rate in order to keep market share, aka, deposits! (This is kinked demand curve in demonstration, and it also explain a little price war in short term depositsf-cool)

February 3, 2015
3:23 am
Loonie
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This offer is no longer on Hubert's website. GICs start at 2 yr terms.

February 3, 2015
7:12 am
ertyu
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While the main banner ad is gone, the page is still there 1 year special and when logged in I still have the option to create new 1 year GICs with that rate.

February 3, 2015
9:51 am
frizun
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I spoke a service rep about the 1 year special and she said it was so popular that it was pretty much a permanent part of their offerings.

February 3, 2015
11:54 am
Loonie
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Thanks for finding it! I looked, and could not.

February 3, 2015
11:55 am
kanaka
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frizun said

I spoke a service rep about the 1 year special and she said it was so popular that it was pretty much a permanent part of their offerings.

Good to hear as I prefer to see to allow stating up a 5 year ladder,

For others I believe it has never left....it is not listed under rates...but try PRODUCTS then 1 YEAR TERM SPECIAL

Click here https://www.happysavings.ca/11new-page.aspx

July 6, 2015
2:40 pm
semi-retired
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Just an idea for the ULTRA-SAVERS on this great website.I have one of these 1 yr. term deposits,with the 3 month escalator interest rate.The first 3 month term ends tomorrow,I will collect the 3 month interest payment & send the entire balance to Tangerine for the 3% (hopefully) to the end of Dec.

July 9, 2015
1:57 pm
semi-retired
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Everything worked out fine with the transfer.The Happy agent was very curt with me when I told her to cash in the GIC.Generally they chat you up and thank you for your business.I added my Tangerine account to my account move list,all on line,didn't need to send a check.Hubert sent small amount to confirm account.Took less than 18 hrs.Made the transfer and the money was in my Tangerine account within 12 hrs.Hopefully the 3% lasts till near the end of Dec.

July 10, 2015
9:35 am
rhvic
Victoria, BC
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It looks like Hubert has dropped their GIC rates compared to a year ago. Now it is:
The first three months: 2.05%
Months four to six: 2.15%
Months seven to nine: 2.25%
The last three months: 2.35%

This averages to 2.2% over a year.

Better to put money in Tangerine savings at 3% for half a year, then Hubert savings at 1.9% for another half year; this averages to 2.45%, better than the GIC.

July 10, 2015
10:55 am
semi-retired
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This is exactly why I just did this.The agent seemed to know the reason for the early cash out & wasn't as friendly as usual.If more of us jump ship maybe the institutions will quit jerking the rates around so much.

July 10, 2015
11:29 am
kanaka
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semi-retired said

Everything worked out fine with the transfer.The Happy agent was very curt with me when I told her to cash in the GIC.Generally they chat you up and thank you for your business.I added my Tangerine account to my account move list,all on line,didn't need to send a check.Hubert sent small amount to confirm account.Took less than 18 hrs.Made the transfer and the money was in my Tangerine account within 12 hrs.Hopefully the 3% lasts till near the end of Dec.

I find it odd that an agent at Hubert would be curt with a customer. No doubt it happened, but it only damages their relationship with you as no doubt you would re-consider any further investing with them and you did your part with your previous investments with them and you both fulfilled your commitments. I have put thousands into GICs at Coast Capital over the last 20 years and they have made if very apparent to me that I am no longer a good customer as I have moved most of my funds away from them. So my motto is......use them for what they are good for.......no more loyalty for low rates and poor customer service. And let's face it, it is just business, you loose some, you gain some.
AND sf-embarassed I really never thought I was treated as a valued customer from Coast Capital from the get go!!!

July 10, 2015
1:17 pm
Loonie
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It's never the customer who is valued, only their money.
There may be some exceptions in small towns where people are friendly etc., but this is the general rule.

July 10, 2015
8:02 pm
Norman1
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Loonie said

It's never the customer who is valued, only their money.
There may be some exceptions in small towns where people are friendly etc., but this is the general rule.

That reminds me of this March 1993 Dilbert comic strip. Someone realizes that money, not employees, is their most valuable asset: http://dilbert.com/strip/1993-03-03

July 10, 2015
8:58 pm
Loonie
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Touché, Norman!

We could use more humour on this site, even if it's a bit dark!

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