15-month GIC at 2.45% | Page 2 | Peoples Trust | Discussion forum

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15-month GIC at 2.45%
November 1, 2014
6:00 pm
Peter
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kanaka said

Brian said

What happened to Brian's comments?

See here for an explanation of why Brian deleted his comments. Side note: I've removed the permission for users to edit their posts after there has been a reply to that post, as it is too disruptive to the continuity of the site for edits to be made retroactively.

November 5, 2014
7:46 pm
Greg Franklin
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Peoples Trust and Oaken Financially both have 2.40% 1 year GIC rates so it does not seem really worth it to lock in for 0.05% more.

Oaken Financial has 2.50% 18 month GIC rates but this does not seem to be worth it for 0.10% more either. If it is to lock in because to build a GIC ladder then it could work.

November 6, 2014
11:57 am
Brimleychen
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One thing I don't like Peoples Trust GIC is that they never send you the paper Certificate which states all the terms and conditions of the contract. Guaranteed Investment Certificate?

If everything is well, then nothing needs to worry.

Oaken Financial mailed the nice looking certificate.

November 6, 2014
12:04 pm
Greg Franklin
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Brimelychen, Oaken Financial did mail us a GIC certificate too for our $10,000 cashable GIC 2.00% 1 year term cashable after 90 days back in the summer time.

It is pretty straight forward and all info on the back explains quite clearly about many terms of the GIC.

We have 2 other GIC certificates mailed to us back in 2013 when it was using the Home Trust name on their GIC certificates. Simple and straight forward. No complaints here and great service too.

November 6, 2014
1:58 pm
Loonie
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I like the fact that Oaken provides a certificate and details too. The best one can do with some of the others is to take a screen print of the offer and keep it. It's not just the online banks that are at fault either. I have some very skimpy documentation from TD GICs as well, and will not be renewing them.
The government, in its self-interest, has decided that safety deposit boxes will no longer be eligible for tax credits as an investment expense beginning 2014 because people don't have such documents any more. They are wrong. I keep copies of all investment documentation there. They seem to think that everyone will have everything on computer and will trust that repository. Lots of old people still don't have computers. And, even if you do use a computer, you need to keep print copies somewhere safe as back-up.

February 25, 2015
3:25 pm
Jon
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rate reduce to 2.3% - Not so unexpected

February 25, 2015
4:26 pm
Loonie
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They have also just reduced their 1yr GIC from 2.4 to 2.25 except for TFSA, where it is 2.45

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