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Luminus Rate Increases
November 28, 2017
7:51 am
Nehpets
Ontario
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Source: Luminus Website:

Limited Time Special Offers**
Investment Savings Account 2.50%
1 Year fixed GIC 2.30%
2 Year fixed GIC 2.25%
5 Year Escalator Deposit 3.50%

As posted elsewhere, Luminus fees may be an issue

November 28, 2017
8:36 am
Top It Up
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Nehpets said
Source: Luminus Website:

Limited Time Special Offers**
Investment Savings Account 2.50%
1 Year fixed GIC 2.30%
2 Year fixed GIC 2.25%
5 Year Escalator Deposit 3.50%
  

THAT 5 year Escalator Deposit is a sucker rate - the 5-year average on that GIC is ONLY 2.10%

November 28, 2017
4:19 pm
Loonie
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New money only.
Applies to Feb 28/18.
It's a bit of a pain to get the money out again as they don't have online connections to other FIs.
However, for someone who lives in Toronto, is already a member but doesn't have much on deposit currently, is looking for a temporary solution, and doesn't want o have to open at another FI, the savings account would work.
The one-year rate is also attractive, if that's what you need.

November 29, 2017
7:14 am
cristunity
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One option is to open their free "5-star" chequing account, and then order paper cheques (I think you can get 40 for $20 or something like that). Then when you want to move funds out, write yourself a cheque and deposit it in the FI of your choice.

The chequing account also offers unlimited e-transfers, which is OK for smaller amounts -- but obviously impractical for large amounts.

They'll also do a bank draft for $7.

None of the above are ideal, and it's a hassle that they don't have online transfers to other FIs. But for the last few years, Luminous has offered some of the best 1-year GIC rates in Ontario.

December 24, 2019
6:07 pm
Bud
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34 Month Fixed GIC (new funds only) 2.85%
17mth new 2.65
9mth new 2.5
https://www.luminusfinancial.com/m/Rates/

GIC King

December 25, 2019
2:20 am
Loonie
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$60 fee for transfers OR withdrawals on registered accounts.
https://www.luminusfinancial.com/Personal/BecomingAMember/ServiceFees/RegisteredPlans/

December 25, 2019
6:10 pm
Jon
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Loonie said
$60 fee for transfers OR withdrawals on registered accounts.
https://www.luminusfinancial.com/Personal/BecomingAMember/ServiceFees/RegisteredPlans/  

They dare to charge fee for withdrawing from register account.....

January 6, 2020
5:46 pm
Bud
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Luminus has a 5yr@3% cashable anytime at a reduced rate of 1.75%

what do you think?

GIC King

January 7, 2020
5:49 am
hwyc
GTA
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Looks like RSP only.

Capture-Luminus-5y-GIC-RSP.JPG

However, I am not able to find this offer or 1-877-713-6236 from Luminus main page. Also on this page advertised TFSA rate is lower than what I saw on their main rate page. So I am not sure if this page is meant to be found.

January 7, 2020
6:37 am
Bud
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non-reg was offered

GIC King

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