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GIC rates aren't high enough
January 1, 2023
1:32 am
Wanderer
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June 5, 2016
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If I’m going to lock in for five years I want the highest rate. 5.1% for one year... big deal. It’s cheap on PT’s part not giving the highest interest on the five year! Had to vent!

January 1, 2023
5:24 am
savemoresaveoften
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March 30, 2017
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Wanderer said
If I’m going to lock in for five years I want the highest rate. 5.1% for one year... big deal. It’s cheap on PT’s part not giving the highest interest on the five year! Had to vent!  

Why do they have to offer the highest interest on the 5y? Just cuz u want it? If so should have ask for even more 🙂

January 1, 2023
12:45 pm
Loonie
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October 21, 2013
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One thing that I have observed over the years is that whenever there's an economic crisis, we will all be made to pay for it. This can take the form of poor returns on investment, job losses, higher prices, , poorer public services, more fees, higher taxes, or some combination of the above.

January 1, 2023
1:52 pm
Dean
Valhalla Mountains, British Columbia
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January 12, 2019
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Wanderer said

If I’m going to lock in for five years I want the highest rate. 5.1% for one year... big deal. It’s cheap on PT’s part not giving the highest interest on the five year! Had to vent!  

Meh ❗

Then do what most of the rest of us do ... walk-on by, and and lock-in somewhere else.

My Two Centavos sf-wink

    Dean

sf-cool " Live Long, Healthy ... And Prosper! " sf-cool

January 2, 2023
4:15 am
RetirEd
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November 18, 2017
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I simply locked in at Peoples when they had the highest 5-year rate and I could start earning it earlier, in August. I think they got so much 5-year money that they wanted more short-term paper that would then have to be reinvested in a year or two at a lower rate. Committing to 5 years at 5 percent could leave them with an expensive hangover if/when rates dropped.

I'm happy with the deal I got. Earning well, and the outfit's still profitable. They don't do much mortgage business and have very profitable credit card and prepaid-card operations, so they don't have as much lending risk as credit unions and banks with huge mortgage portfolios at risk of default.
RetirEd

RetirEd

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