Will Motive Raise GIC Rates To Be Competitive? | Motive Financial (formerly Canadian Direct Financial) | Discussion forum

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Will Motive Raise GIC Rates To Be Competitive?
March 27, 2020
8:19 am
GR
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Motive is a division of CWB (Canadian Western Bank). Through GIC agents, 1 yr GICs from CWB are today at 2.47% - much higher than Motive's rate. It's time for Motive to offer competitive GIC rates.

March 27, 2020
9:22 am
gicjunkie
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GR said
Motive is a division of CWB (Canadian Western Bank). Through GIC agents, 1 yr GICs from CWB are today at 2.47% - much higher than Motive's rate. It's time for Motive to offer competitive GIC rates.  

With the BoC lowering rates again today, we'll be lucky if the Motive rates stay the same as they are.

March 27, 2020
12:12 pm
happyavocado
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While I hope I'm wrong, I don't think we're going to see an across the board hike like we saw about a year ago.

But I am expecting to see something from Meridian in the next little while. They hiked mortgage rates, and so I figure they'll do something with their GIC rates as well. Might be time for those in a "raise-you-rate" 3 or 5-year GIC to make a switch (you can do it once in a 3-year and twice in a 5-year).

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