Outlook Financial Savings Account Rate Increase - Effective 2 August 2018 | Outlook Financial | Discussion forum

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Outlook Financial Savings Account Rate Increase - Effective 2 August 2018
August 2, 2018
10:23 am
Top It Up
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Outlook Financial raised their Savings Account rate to 2.15% from 2.00%, effective 2 August 2018.

The rate increase applies to ALL savings accounts - HISA, TFSA, RRSP, RRIF.

August 27, 2018
7:56 am
mechone
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January 28, 2015
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Outlook always had good GIC rates ,they have now become complacent, I have been waiting for months for them to raise the 5 year GIC .Looks like another BOC rate increase Sept 5th. Time to start looking somewhere else I can get the same rate at a walk in down the street DUCA not over the net in another province

August 27, 2018
4:05 pm
gicjunkie
Ontario
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I have been having the same thoughts about both Outlook and Achieva. They were the trend setters for GIC rates in Manitoba for years, but now they have seemingly become complacent. Hubert is probably now the best choice in Manitoba for savings and GICs. Having said that, many of the Ontario credit unions have been outperforming the Manitoba ones regarding GICs for a while now. Being in Ontario I am much happier to keep my investments more local if I can.

August 27, 2018
9:47 pm
NorthernRaven
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As always, "complacent" really means "successful" - the natural goal is to minimize cost of funds. It looks like Outlook/Assiniboine has around $2 billion in term deposits (GICs), so every 5 basis points in their weighted GIC rate would be $1 million saved annually. The older/bigger Manitoba CUs like this can for now meet their funding targets without needing to chase after the very end of the rate-hunting tail.

August 28, 2018
6:23 am
gicjunkie
Ontario
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Northern Raven, you are absolutely correct. My "complacent" was a bit sarcastic. Like the big national banks, Outlook and Achieva are not so much groveling for business. On the other hand, as a personal investor, I myself will gladly "grovel" for better rates, as long as the investment is insured. Better in my pocket!

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