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Email this2:13 pm
August 1, 2015
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Alas, I was wondering when it would happen but Savvy Savings and TFSA rate now down to 1.1%.
2:34 pm
September 30, 2017
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Nooo...
7:19 am
December 20, 2019
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I am finally going to take the plunge with Saven Financial, the 1.35% is too good to pass up.
Sorry Motive but you are now a mere shadow of what you were a couple of years back.
Not to worry though, we thought Canadian Tire was finished and they cam back so there is hope for Motive yet.
Until then I am going to start the daunting task of moving money from Motive to Simplii and then from Simplii to Saven.
So absolutely stupid that I cannot move money directly from Motive to Saven
PS. Saven has no deposit limits just like Motive and Canadian Tire.
8:34 am
November 8, 2018
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I am moving money from Motive, too. Will top up Neo Financial account I already have, which is at 1.3% currently. Then, will go down the list of all accounts I have with interest above 1.1% and will top up them, too. Starting with top rate and down to 1.1%.
11:04 am
November 7, 2014
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Unfortunatley, still no joint accounts allowed at NEO or Saven. Maybe in the not too distant future?
11:11 am
January 9, 2011
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I moved money to Motive less than 2 weeks ago. Sorry if I triggered some upper cash limit that caused this! (joking) 
Anyway, all funds at Motive were withdrawn first thing this morning. I agree with KamWest, you used to be able to count on Motive/CDF being consistently competitive, sometimes both HISA and GIC.
Something put me off Saven and Neo initially, but I'll have to look into them again. I don't have a smartphone though.
The main accomplishment of almost all organized protests is to
annoy people who are not in them.
12:08 pm
September 30, 2017
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HISA trend is still downward in general with no turnaround on the horizon. I am considering this option instead ( 1 yr GIC @ 1.35%), since I met the age requirement.
On Motive GICs with a term of at least 12 months, customers over the age of 57 also have the option of having interest paid monthly into a Motive Savings account.
12:13 pm
December 20, 2019
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Not sure if I would tie up the funds with Saven doing 1.35%
Here is what I ended up doing...
Had my funds at Motive now at 1.10%
I moved them to CTC at 1.25%
Once that clears I will move to Saven at 1.35%
Since Saven has a CTC link it was a better option than using simplii as an intermediate because they pay virtually no interest.
2:41 pm
September 7, 2018
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KamWest said
I am finally going to take the plunge with Saven Financial, the 1.35% is too good to pass up.
Saven is still quite new and trying to attract new depositors - I wonder how long they will keep the 1.35% rate before reducing it as is the usual......
4:53 pm
May 28, 2013
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Voting with my money, which is moving from Motive to EQ, where half will go into a 3 month GIC, half into a 6 month GIC, both at 1.30%. Not sure how long EQ's 1.25% rate on savings will last at this time.
5:09 pm
April 20, 2019
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Eq bank Rate won’t Last long now that motive dropped theirs.
How are HISA rates determined in Canada? Based on 5 year Fed gov bond yields? 10 year bond yields in us have been increasing. I was hoping there would be HISA Rate stability now.
5:28 pm
October 21, 2013
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Hubert's one-year graduated rate at 1.3, cashable every 3 months if rates improve might be worth considering for some people as an alternative at this time.
I would speculate that when one of these FIs breaks rank, others will almost certainly follow because none of them wants the influx of HISA money
I'm good til Jan 31 with promo rates. Will see what happens between now and then.
6:22 pm
October 27, 2013
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Loonie has it right in terms of edging down. FIs only pay what they need to attract just enough funds needed for the lending side of their business. Anything more is a boat anchor for them.
@post#11: HISA rates have no relationship with 5 or 10 year bonds. It's tied more to the BoC short term interest rate and the general consensus is it is not going up until sometime in 2022. Big institutions can borrow commercial paper at 20-25bp or less, with 90 day T-bills at 11bp (not been above 25bp for over a year). Be thankful you are getting ~1% (or better) with fintechs and not 0.3%.
7:11 pm
April 27, 2017
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BoC may not move for a few months on the rate but they will end QE.
As bond rates go up, new money supply goes down, mortgage rates go up and people gain confidence to spend and invest, there is a good chance money starts flowing elsewhere and HISAs will regain interest in attracting new funds. Sooner rather than later.
Obviously I have no clue what will actually happen but change in HISA rate direction is at least possible in 21.
7:41 pm
April 20, 2019
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Much appreciated altared. So close to 1% should be expected For the next 18 months.
7:54 pm
October 27, 2013
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suburbs4life said
Much appreciated altared. So close to 1% should be expected For the next 18 months.
I have no idea whether 1% is sustainable. My key point is they have room to go down. Mordko appears to be more convinced the end of QE will indirectly cause the opposite to happen.
1:12 am
January 10, 2021
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I am confused. BofC had q/e and 0 rates for 2 years and Motive HISA rate was higher. Now BofC says they will raise short rates and HISA at Motive goes lower?
Why is this disconnect?
Market doesn't believe BS from BofC?
4:42 am
January 9, 2011
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mikehampel said
I am confused. BofC had q/e and 0 rates for 2 years and Motive HISA rate was higher. Now BofC says they will raise short rates and HISA at Motive goes lower?Why is this disconnect?
Market doesn't believe BS from BofC?
Just a guess, but I don't think the two are related events.
Motive, historically, blows hot and cold with their rates. In other words, sometimes they are very competitive, either in GICs or HISA (seldom both at the same time). Then they make the decision to exit the competitive rate market. They are just a filler for Canadian Western Bank funding sources. When I saw this latest rate drop, that was my reaction, not that this signaled any general rate trend. Of course I could be wrong! 
The main accomplishment of almost all organized protests is to
annoy people who are not in them.
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