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July 15, 2020
7:46 am
frizun
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Anyone buying GICs from LBC?
That 1 year GIC looks attractive at 2.1%
Do they allow maturity instructions to be set?

July 15, 2020
8:17 am
Bill
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Yes to both questions.

August 5, 2020
12:36 pm
rhvic
Victoria, BC
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When I logged into my Laurentian Bank account today, the 2.10% one year GIC is still available on the "Buy GIC" tab. With EQ dropping their HISA rate to 1.70%, that is starting to look really good!

August 14, 2020
10:11 am
kallie
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Oaken announced 0.2% rate reduction for August 20, 2020. Now LBC took my attention. I am wondering do they have a good service/system? Any comments?

August 14, 2020
10:46 am
hwyc
GTA
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I believe their current system only allow GIC purchase from unhold money available in their HISA account … it is more than a single step if you are a new client

August 14, 2020
2:13 pm
AltaRed
BC Interior
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hwyc said
I believe their current system only allow GIC purchase from unhold money available in their HISA account … it is more than a single step if you are a new client  

That is correct. Only funds not 'on hold' can be used to buy a GIC. Up to five business day hold on new money transferred in, and that is what I have experienced.

August 17, 2020
10:40 am
dentgal
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I'm now seeing poor rates for Laurentian Bank GICs:
Guaranteed Investment Certificate (GIC)
Type Detail Annual (%) Maturity (%)
Current rates1 90 to 179 days 0.30
180 to 269 days 0.40
270 to 361 days 0.40
1 year (362 to 729 days) 0.60
2 years (730 to 1,079 days) 0.85
3 years (1,080 to 1,444 days) 0.90
4 years (1,445 to 1,809 days) 1.05
5 years (1,810 to 2,539 days) 1.15
Special rates2 1 year (362 to 729 days) 0.95
2 years (730 to 1,079 days) 1.25
3 years (1,080 to 1,444 days) 1.35
5 years (1,810 to 2,539 days) 1.55

August 17, 2020
11:00 am
rhvic
Victoria, BC
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When I log into my LBC Digital account, I am still being offered the one year GIC at 2.10%. Rates still appear to be the same as last week.

https://onlinebanking.lbcfg.ca/

August 17, 2020
11:24 am
hwyc
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Dentgal is refering to rates for the "Personal banking" only available in Quebec

August 17, 2020
4:08 pm
Norman1
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The LBC Digital GIC rates are still good:

TERM MINIMUM INTEREST
RATE
1 year $100.00 2.10%
2 years $100.00 2.05%
3 years $100.00 2.05%
4 years $100.00 2.15%
5 years $100.00 2.30%
August 18, 2020
5:24 am
hwyc
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Checked again this morning, new rates effective sf-frown ... rats, my money is two days shy from their HISA unhold.

August 18, 2020
6:16 am
2of3aintbad
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Like EQ Bank, that is a very customer-UNfriendly policy. Maybe they will honor the old rate if you ask.

August 18, 2020
8:25 pm
Norman1
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Quite a drop:

TERM MINIMUM Previous
Interest
Rate
INTEREST
RATE
1 year $100.00 2.10% 1.85%
2 years $100.00 2.05% 1.95%
3 years $100.00 2.05% 1.85%
4 years $100.00 2.15% 2.00%
5 years $100.00 2.30% 2.15%

Something similar happened to a few of us at EQ Bank a while back. Could not purchase the term deposit while funds transferred in were on hold.

EQ Bank wasn't able to change the rate on the term deposit as they thought they could. They ended up crediting the difference in interest instead.

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