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lower interest rates
January 4, 2012
9:06 am
rob
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I just spoke with a representative from Hubert who advised me that the current savings rate for the Happy account was at 2 %. Quite a drop from the the original 2.5 and the recent 2.3 just in November.

January 4, 2012
9:13 am
Yatti420
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Yes there was a big drop within 5 days of eachother.. I have a thread with the historical rates here..

https://www.highinterestsavings.ca/forum/hubert-financial/hubert-historical-savings-rates/#p5423

Any indication of any rate hikes soon?

January 4, 2012
11:05 am
88kanaka
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rob said:

I just spoke with a representative from Hubert who advised me that the current savings rate for the Happy account was at 2 %. Quite a drop from the the original 2.5 and the recent 2.3 just in November.

Does that mean, that for some reason they are avoiding new deposits for the TFSA and RRSP season while others are starting the bait and switch advertising?? Seems odd.

January 4, 2012
4:32 pm
rob
Guest
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Yatti420 said:

Yes there was a big drop within 5 days of eachother.. I have a thread with the historical rates here..

https://www.highinterestsavings.ca/forum/hubert-financial/hubert-historical-savings-rates/#p5423

Any indication of any rate hikes soon?

January 4, 2012
4:36 pm
rob
Guest
Guests

When the rep told me the 2 % rate she stated it was because of market conditions...their indication seemed to be that it would not be going up in the near future.....I would think that its certainly easier going down from 2.5 then going up from the current 2 %.

January 4, 2012
4:44 pm
Yatti420
Guest
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Yea probably going to be sitting at 2%..

January 6, 2012
7:09 pm
cmore@shaw.ca
Guest
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The 2.5% rate they were offering was a typical B.S. teaser rate! Tell me...what changed in the "market" over the past year? the BoC has not changed their rate and most other virtuals had their daily savings sitting at 2% or lower for the past 18 months or so.

For me, I want to keep my savings at an institution that has a proven track record for competitively high interest rates. I've been moving money to virtuals from the day ING came to Canada, since then I've moved most of my long-term savings to Achieva, which has been in operation for over 10 years and has a very competitive savings rate and very high term deposit and RRSP rates.

I can't stand the bait and switch techniquies used by institutions and then hear their B.S. about the market conditions, when you know good and well rates have not changed!

May 3, 2012
6:43 am
moneysaver
Ontario
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December 22, 2011
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Hubert Financial just dropped their 4 and 5 year GIC rates effective May 3/12

4 Year - 2.85% ( down from 3.00%)
5 year - 3.10% ( down from 3.25%)

Theres no other change that I can see with anything else.

April 18, 2019
7:22 am
jgclghrn
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February 20, 2013
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Hubert just dropped their rates again. sf-frown

High interest savings - 2.35%
1-year term - 2.85% average
2-year term - 2.95%
3-year term - 3.05%
4-year term - 3.15%
5-year term - 3.24%

April 18, 2019
8:05 am
rodeworthy
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February 1, 2016
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Wow! I am a new customer at Hubert. Just yesterday I contacted them about having some delay in getting money transferred to our new account in order to finance a 2-yr Term Deposit. I was concerned about possible imminent rate changes.

The CSR had no problem offering to hold the rate of 3.1% until May 1. This was verbal agreement only.

Since that time the money has shown up and I have implemented a transfer to Hubert. It is showing as a hold in our account. Had planned to do the Term Deposit purchase next week but might be better to get that done today. The final date will depend on when the money is no longer on hold.

If this works, I am going to be another enthusiastic supporter of Hubert Happy Savings.

This forum has been very useful to me to keep abreast of current rates. Due to the trend to lower rates I have been able to blow my modest plan away and invest heavily before rates dropped too low. I have managed 3.1%, 3.2% and 3.3% for 2-yr terms in last two months. Very pleased about that considering the trend.

Thanks to all who report to this forum.

April 18, 2019
10:18 am
pooreva
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April 2, 2018
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The moment you see funds on your account, even they are on Hold, call Hubert and tell them to remove hold as you want to buy GIC. They will do it right away and you open GIC account and move $ right away.

April 18, 2019
12:49 pm
rodeworthy
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pooreva said
The moment you see funds on your account, even they are on Hold, call Hubert and tell them to remove hold as you want to buy GIC. They will do it right away and you open GIC account and move $ right away.  

pooreva, that is good advice and, in fact, that is what I have done.

I have proceeded with the purchase of the Term Deposit (aka GIC) and that has been processed and posted on my account. I am advised it will involve special handling to bring the rate to the one that I was promised but it will take place in due time. As it is now, the rate is shown as the latest 2-yr rate 2.95%.

I am confident the rate will end up to be 3.1%. It has been a good experience so far and I look forward to a good relationship with this FI.

May 9, 2019
7:19 am
GR
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September 15, 2017
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Hubert GIC rates dropped again!

2.70, 2.80, 2.90, 3.05 & 3.15% p.a. for 1, 2, 3, 4 & 5 yrs, respectively.

May 9, 2019
8:49 am
Doug
British Columbia, Canada
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December 12, 2009
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GR said
Hubert GIC rates dropped again!

2.70, 2.80, 2.90, 3.05 & 3.15% p.a. for 1, 2, 3, 4 & 5 yrs, respectively.  

Ooh, so glad they auto-renewed my 1-year GIC, and that the 1-year quarterly GIC rate is locked in for the full term. I had thought, back when rates were rising, that your quarterly rates would bump up but they didn't. I suggested to Hubert they add some verbiage to that effect that makes it clear, but they haven't.

Nevertheless, I'm certainly appreciating my 3.05-3.15% effective 1-year GIC rate. sf-cool

Now if only they offered it in a RRIF for those over age 71...

Cheers,
Doug

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