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Email this8:09 am
December 23, 2011
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Rates are Rising!
Implicity believes in the simple power of saving money and we are happy to let you know that our rates are increasing!
The following rates will be increasing effective March 13, 2015:
GIC/TFSA Term Deposits
1 Year 2.15% from 2.10%
2 Year 2.30% from 2.25%
3 Year 2.55% from 2.35%
4 Year 2.55% from 2.50%
5 Year 2.70% from 2.65%
8:48 am
October 21, 2013
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It's a start, however feeble!
2:04 pm
December 23, 2011
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I agree and think we should demand for a 5 year GIC rate of at least 10%.
The government has a mind set that reducing the Bank Of Canada rate will help the younger folks that have over extended themselves. That was not the case when we were hit with the 18% rates way back when. But oddly enough most of us were not swayed by what amounts the banks would offer for a loan or mortgage and we knew how to not over extend ourselves even though temptation was always knocking at the back door. Would it not make more sense for the government to force more stringent qualifications for lenders and borrowers?? How many families have had one or more car loans rolled into a renewed mortgage...and they no longer own it?
6:16 pm
September 15, 2013
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Yes kanaka, I remember the '80s well. We bought our house in '83 (still living here) new. Mortgage rate was 12.5 % I think (long time ago) and after 3 years we were to renew at 16%! Told National Trust to
pound salt and we got a private mortgage at 9.5% and dropped the amortization from 25 years to 9 years. Our house was fully paid off in '96. We knew a few people back in the '80s that simply couldn't
handle the high mortgage payments and sold. Perhaps the 80's were an aberration, but 10% plus
saving rates! Wow.
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