HISA bump to 2.05% from 1.75%. eom | Meridian Credit Union | Discussion forum

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HISA bump to 2.05% from 1.75%. eom
September 14, 2022
2:17 pm
savemoresaveoften
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...

September 14, 2022
2:55 pm
Nehpets
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Effective what date? What is your source? Meridian website still shows 1.75%

For those on the current promo, the increase would be beneficial

Stephen

September 14, 2022
3:04 pm
FastJonny
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I got an email an hour or so ago myself indicating this. effective Sept 15 2022.

September 14, 2022
3:35 pm
Nehpets
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FastJonny said
I got an email an hour or so ago myself indicating this. effective Sept 15 2022.  

Thanks Jonny! As a participant in the current promo, that's welcome news to me!

Stephen

September 14, 2022
3:42 pm
JohnnyCash
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0.30% is a nice healthy bump putting those on the current promo anywhere between 3.80% and 3.95%. Seems there has been a bit of a lag by banks to respond to the latest BoC announcement as it applies to HISA's. I would imagine banks are thinking long and hard while waiting to see who will move first. Signups for Meridian's most recent promo ended a few days ago and I suspect they want to hold onto their current deposits.

September 15, 2022
4:56 am
Nehpets
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Meridian website confirms 2.05% rate as of today Sept 15

September 15, 2022
5:34 am
mustang
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Yep. My savings account shows 3.80% this morning
Thanks for pointing this out

September 15, 2022
5:58 am
bhuc
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Yep. My savings account shows 3.95% this morning ! sf-smile

For me this promo will end mid Jan 2023... where to move money then, maybe Motive at 3% or buy a short term GIC ?

September 15, 2022
7:37 am
Alexandre
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Lucky me: 3.95% on HISA and 3.8% on TFSA. Thanks, Meridian.

September 15, 2022
7:39 am
Alexandre
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bhuc said

For me this promo will end mid Jan 2023... where to move money then, maybe Motive at 3% or buy a short term GIC ?  

I am in the same boat. I count on 1yr GIC to reach 5% mid Jan'23, and HISA from different FIs surpassing 3% by then. I'll be checking available options in January, and won't be concerned till then. Good times ahead.

September 15, 2022
7:52 am
canadian.100
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Alexandre said I count on 1yr GIC to reach 5% mid Jan'23, and HISA from different FIs surpassing 3% by then. I'll be checking available options in January, and won't be concerned till then. Good times ahead.  

I agree - 5% would certainly be my minimum acceptable rate for a 1 year locked in GIC. BCE (Bell Canada) shares are around $60 now with dividend yield 6% - will likely be my alternative if the 5% one year GIC does not materialize by end of December.

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