2019 06 03 15 month GIC Down | Peoples Trust | Discussion forum

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2019 06 03 15 month GIC Down
June 3, 2019
8:42 am
Nehpets
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As of today, noticed that Peoples Trust 15 month GIC is down to 3.0% from 3.1%

Stephen

June 3, 2019
12:43 pm
GR
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3% p.a. for 15 months is still a good rate today.
Also, the 4 yr and 5 yr rates are down 5 basis points to 3% and 3.05%, respectively.

June 24, 2019
2:58 pm
GR
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Alert: The rate of 3% p.a. for 15 months non-registered GICs is expected to decrease after this week.

June 24, 2019
7:17 pm
Selkirk
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Meh sf-confused

No offence, but with the recent major stock market correction that happened earlier this year, I can't get too excited about Terms & GICs right now ... especially when I'm in it for the 'Looong' Term.

All my 'Blue Chip' Stocks & ETFs are yielding 'Tax-Favored' 4-7% in Dividends, with Capital Gains to follow.

Yes, I do keep some $$$ in HISA's and HI-GIC's, but right now I favour 'High-Dividend' Blue Chips/ETFs.

September 23, 2019
7:06 am
Bud
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GR said
Alert: The rate of 3% p.a. for 15 months non-registered GICs is expected to decrease after this week.  

Still 3 nice call

Is this a name one can be over cdic for a year in the current global volatility n possible recession

Whose a better credit peoples or oaken or eq

If somethin happened they may allow restructure to bank side like oaken

GIC King

September 23, 2019
7:39 am
Nehpets
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There has been no official notification or alert, to my knowledge the 3% / 15 month GIC rate is imminently decreasing, although it is quite possible, given the environment. I don't believe Peoples Trust sends out an advance alert announcing rate changes...frequent monitoring of their rate page is best, for anyone interested.

By completing an online application for one of these GIC's to be funded by a mailed in cheque or future EFT, Peoples Trust will hold the rate for about 10 days (to be confirmed, of course, with a phone call to one of their CSR's.

I've successfully done this a few times.

I feel more comfortable keeping my deposits with Peoples Trust within CDIC limits.

Stephen

September 23, 2019
1:00 pm
Loonie
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I noticed a couple of days ago that their website still advertised the 15 month 3% GIC, but had added something like "Ends soon", so I think it likely that it will indeed end at the end of September.
When I spoke to one of their people in early August, I gathered from the way he spoke that Peoples would likely end it at the end of a month. At that time, he said it had been supposed to end at end of July, but then they extended it, and he thought it would be good until end of August - just his personal opinion based on how they tend to operate.

I agree with Stephen on keeping it within CDIC. I imagine you could extend coverage by opening a joint GIC if needed. It's true that you can effectively hold the rate by applying for the GIC online even before your account application is approved.

September 23, 2019
1:30 pm
Bud
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one could switch to joint no?

GIC King

September 24, 2019
6:05 am
Norman1
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Loonie said
I noticed a couple of days ago that their website still advertised the 15 month 3% GIC, but had added something like "Ends soon", so I think it likely that it will indeed end at the end of September.

Could be. I saw this banner ad with "Ending soon" decoration in the top right corner:
EndingSoon.png

Clicking the ad leads to this GIC 15 page promoting their 15-month 3% GIC, with big "Ending Soon!" text on the left.

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