Current GIC Rates Aren't Bad | Luminus Financial | Discussion forum

Please consider registering
guest

sp_LogInOut Log In sp_Registration Register

Register | Lost password?
Advanced Search

— Forum Scope —




— Match —





— Forum Options —





Minimum search word length is 3 characters - maximum search word length is 84 characters

sp_Feed Topic RSS sp_TopicIcon
Current GIC Rates Aren't Bad
April 23, 2020
7:13 pm
gicjunkie
Ontario
Member
Members
Forum Posts: 367
Member Since:
November 7, 2014
sp_UserOfflineSmall Offline

Specials:

1 Year Fixed GIC (new funds only) 2.40%
18 Month Fixed GIC (new funds only) 2.50%
2 Year Fixed GIC (new funds only) 2.60%

Regular Rates:

1 Year Fixed 2.20%
18 Months 2.25%
18 Months (cashable) 1.75%
2 Year Fixed 2.30%
3 Year Fixed 2.40%
4 Year Fixed 2.50%
5 Year Fixed 2.60%

https://www.luminusfinancial.com/Personal/Rates/

May 1, 2020
8:12 am
gicjunkie
Ontario
Member
Members
Forum Posts: 367
Member Since:
November 7, 2014
sp_UserOfflineSmall Offline

gicjunkie said
Specials:

1 Year Fixed GIC (new funds only) 2.40%
18 Month Fixed GIC (new funds only) 2.50%
2 Year Fixed GIC (new funds only) 2.60%

Regular Rates:

1 Year Fixed 2.20%
18 Months 2.25%
18 Months (cashable) 1.75%
2 Year Fixed 2.30%
3 Year Fixed 2.40%
4 Year Fixed 2.50%
5 Year Fixed 2.60%

https://www.luminusfinancial.com/Personal/Rates/  

Don't know how long they can maintain this, but these rates are still available and appear to be the best arround.

May 1, 2020
9:25 am
GR
Member
Members
Forum Posts: 288
Member Since:
September 15, 2017
sp_UserOfflineSmall Offline

Caution: Keep in mind their excessive fees, as discussed in another Luminus thread. Before determining if you want to deal with them, carefully review all lists of fees and charges.

May 11, 2020
11:28 am
gicjunkie
Ontario
Member
Members
Forum Posts: 367
Member Since:
November 7, 2014
sp_UserOfflineSmall Offline

I frankly do not understand why Peter ignores the Luminus rates in the Promos area. They are pretty much the best rates available right now for Ontario residents. The "excessive fees" referred to above are actually minimal as long as you just have GICs with them plus a free 5 Star chequing account to deposit the annual interest to and withdraw from. We just pay for a few cheques and that's it. The higher GIC interest rates more than offset the negativity of the "small" fees. Check it out if you live in Ontario. And NO, I do not work for Luminus.

https://www.luminusfinancial.com/Personal/Rates/

May 11, 2020
2:18 pm
GR
Member
Members
Forum Posts: 288
Member Since:
September 15, 2017
sp_UserOfflineSmall Offline

Similar rates, including 2.40% for 1 year, are also available in Ontario through agents such as Monarch Wealth and GIC Wealth, from unnamed FIs.
(I do not work for these agents.)

May 12, 2020
7:32 am
gicjunkie
Ontario
Member
Members
Forum Posts: 367
Member Since:
November 7, 2014
sp_UserOfflineSmall Offline

Thanks for the Promo update Peter. Hope the rates hold for a while in our down trending market.

June 3, 2020
8:33 am
GR
Member
Members
Forum Posts: 288
Member Since:
September 15, 2017
sp_UserOfflineSmall Offline

Lower GIC Rates:

1 Year Fixed GIC (new funds only) 2.10%
18 Month Fixed GIC (new funds only) 2.15%
2 Year Fixed GIC (new funds only) 2.25%

June 3, 2020
9:50 am
cruzinalong
Ontario
Member
Members
Forum Posts: 126
Member Since:
April 15, 2020
sp_UserOfflineSmall Offline

gicjunkie said
Thanks for the Promo update Peter. Hope the rates hold for a while in our down trending market.  

I tried a special rate ONCE for 120 day term. I called. They said they would hold the rate for 30 days. I tried gathering as much as possible. I purchased a large term deposit for 120 days after gathering funds for 15 days. Never again. I went for 120 days with very little spare money. Now I purchase a GIC annually if I have spare cash. Having fun.

Please write your comments in the forum.