1 Yr. GIC Rate INCREASES | Peoples Trust | Discussion forum

Please consider registering
guest

sp_LogInOut Log In sp_Registration Register

Register | Lost password?
Advanced Search

— Forum Scope —




— Match —





— Forum Options —





Minimum search word length is 3 characters - maximum search word length is 84 characters

sp_Feed Topic RSS sp_TopicIcon
1 Yr. GIC Rate INCREASES
January 28, 2021
7:34 am
GR
Member
Members
Forum Posts: 635
Member Since:
September 15, 2017
sp_UserOfflineSmall Offline

Peoples Trust and Peoples Bank have increased their rate slightly for all 1 year GICs to 1.50%. While this is a minor increase, at least it is up - probably to attract funds during RRSP and TFSA season. (One-year GICs purchased from Peoples maturing now were paying 3%.) All other GIC and savings rates are unchanged.

January 28, 2021
4:03 pm
rk
Member
Members
Forum Posts: 71
Member Since:
February 6, 2019
sp_UserOfflineSmall Offline

I am not surprised, as probably many people are moving out their matured 1 year GIC, like I and my wife. Had they done it earlier, we would have gone for it (to avoid a painful transfer to EQ).

January 29, 2021
7:21 am
Save2Retire@55
Member
Members
Forum Posts: 845
Member Since:
January 3, 2013
sp_UserOfflineSmall Offline

Yup. My 3% was matured 2 weeks ago and moved out. 1.5% won't make me bring it back.

January 29, 2021
8:10 am
topgun
Member
Members
Forum Posts: 452
Member Since:
September 6, 2020
sp_UserOfflineSmall Offline

I had a GIC mature today. I am using the funds to pay a portion of my Jan bills. It comes. It goes. Having fun.

Have a Great Day

January 29, 2021
9:59 am
Alexandra
British Columbia
Member
Members
Forum Posts: 462
Member Since:
September 24, 2019
sp_UserOfflineSmall Offline

My $99K GIC matures with Peoples Bank on the 31st. I'll give it a couple of days in their DISA to see if their rates go up in Feb. If not, everything will be going to CT Bank & Motive HISA's.

Yesterday I moved the $5.75 cents I had left in Hubert. The funds went instantly to CIBC without fee. Anyway, I'll probably close the account with them in a few months i.e. get my $5 share back. Sometimes though, they come up with a good 1 yr rate increased each quarter and cashable.

January 29, 2021
10:24 am
topgun
Member
Members
Forum Posts: 452
Member Since:
September 6, 2020
sp_UserOfflineSmall Offline

If you spent the time to open the account maybe you should hold it longer in case you want to go back to them in the future. You never know when they will have competitive rates.

Have a Great Day

January 29, 2021
1:16 pm
Save2Retire@55
Member
Members
Forum Posts: 845
Member Since:
January 3, 2013
sp_UserOfflineSmall Offline

Agree with topgun. I don't close free accounts. I keep them with a 5 cent and if there is inactivity fee I just keep moving $1 here and there. Opening an account is a pain.

January 29, 2021
5:28 pm
Alexandra
British Columbia
Member
Members
Forum Posts: 462
Member Since:
September 24, 2019
sp_UserOfflineSmall Offline

I know what you mean Topgun & Sav2, It is just that I have accounts with Manitoba's Hubert, Achieva & Outlook C.U's. I'm trying to simplify things as I am getting older. And I did add accounts with Wealth One and C.T. late last year. I pretty well have to keep Achieva as I have non-registered GIC's & TFSA GIC's. I have been with them the longest as well. I'll also dump Coast Capital after all my GIC's mature with them. One can always open an account within a few minutes with them if they come up with something special. I just opened with them to take advantage of their 4% GIC. They wanted to become a Federal Credit Union, so now that that has been accomplished, I doubt they'll be coming up with anything good in the near future.

January 29, 2021
6:25 pm
topgun
Member
Members
Forum Posts: 452
Member Since:
September 6, 2020
sp_UserOfflineSmall Offline

I started dealing with Outlook CU almost 2 years ago. I am very pleased with them. In 2018 I bought GIC's with several different FI's. They were all good. I am moving funds to Outlook as these GIC's mature. Still a few years before consolidation is complete.

Have a Great Day

January 29, 2021
8:43 pm
GR
Member
Members
Forum Posts: 635
Member Since:
September 15, 2017
sp_UserOfflineSmall Offline

This thread is for comments about Peoples Trust, not every financial institution in Canada.

February 24, 2021
10:03 am
GR
Member
Members
Forum Posts: 635
Member Since:
September 15, 2017
sp_UserOfflineSmall Offline

1 year GIC rate has increased to 1.55%; other terms have increased or decreased slightly, as shown on the GIC chart.
Savings interest rate remains at 1.30%.

February 26, 2021
2:04 am
RetirEd
Member
Members
Forum Posts: 1026
Member Since:
November 18, 2017
sp_UserOfflineSmall Offline

I asked yesterday if they'd lock the rate for me, as I have a TF-GIC maturing April 1. They said no, but I will try closer to the RRSP deadline where they keep the rates up for last-minute desperadoes. I would like to combine my existing TF-GIC with this year's $6K contribution.
RetirEd

RetirEd

February 26, 2021
9:12 am
Alexandra
British Columbia
Member
Members
Forum Posts: 462
Member Since:
September 24, 2019
sp_UserOfflineSmall Offline

I just purchased a one yr GIC @1.55% with Peoples Trust. They keep the funds on hold there for quite some time. Mine were still on hold, so I called them and they unlocked them for me and I was then able to purchase the GIC.

There was virtually no wait time to actually talk to a person except the press "1" if you want to converse in English. Always very polite and helpful telephone agents.

February 26, 2021
9:28 am
topgun
Member
Members
Forum Posts: 452
Member Since:
September 6, 2020
sp_UserOfflineSmall Offline

RetirEd said
I asked yesterday if they'd lock the rate for me, as I have a TF-GIC maturing April 1. They said no, but I will try closer to the RRSP deadline where they keep the rates up for last-minute desperadoes. I would like to combine my existing TF-GIC with this year's $6K contribution.
RetirEd  

Good idea to merge existing GIC with new funds. Some FI will hold rates up to 30 days. Have fun.

Have a Great Day

Please write your comments in the forum.