LBC Digital - Special rate of 1.65% on a 2 year GIC | LBC Digital | Discussion forum

Save2Retire@55 said
Just received this email and thought to share (I am not using them).

An LBC Digital Guaranteed Investment Certificate (GIC) can make a great addition to a well-balanced portfolio and the time to invest is now — we're offering competitive rates across our 1 year to 5 year terms.

All term GICs are non-registered and non-redeemable.

Term Minimum Annual interest rate on October 19, 20201
1 year $100.00 1.45%
2 years $100.00 1.65%
3 years $100.00 1.70%
4 years $100.00 1.70%
5 years $100.00 1.75%

An LBC Digital GIC can help you grow your money safely:
Minimum deposit is only $100
Guaranteed rates for your entire term
Eligible for CDIC deposit insurance up to a maximum of $100,000 principal and interest combined per depositor per insured category2
Easy to invest in your digital GIC with only a few clicks—just select “Buy GIC” from within LBC Digital online banking  

The rates are competitive. Consolidate where the rates are competitive. Have fun.

Save2Retire@55 said
They are but I am not going to be stuck on these rates honestly. I am still enjoying 3% - 3.75% with Meridian, Oaken, and Peoples Trust (Till 2023) and new money is going into the Market (Robo) as I am lazy and don't trust me in Trading (Greedy).

My worst saving account is Tangerine right now which is still not too bad comparing with the crappy interest rates (2.15%) which many got on this forum.

So far so good. I will start buying GICs when we again hit the 3-3.75% for 5 years (Maybe after a successful vaccine is in place and economy starts to truly recover).  

Everybody is unique. My average yield is 3%. I will continue to buy 5 yr GIC's annually. My yield will gradually decline. I have no idea when an uptick in rates will occur. Have fun.