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GIC Rates Increase
August 22, 2022
6:19 pm
RetirEd
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I'm not uncomfortable with brokers - I just have no experience with using them or knowledge of their practices. I would start with small deposits and get to know them, but with 5% 5-years from an institution I like and a good wad of greenery to park this year, It's not enough to make me make a major commitment. If I find myself flush at my next roll-over, I may test the waters.
RetirEd

RetirEd

August 22, 2022
7:01 pm
dougjp
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I also have no knowledge about investing in GICs through brokers.

Is funding for, and cash back at maturity, immediate, requiring no visits anywhere, electronic and free of anybody's fees (which happens with cheques for example)?

" We may never pass this way again " - Seals & Crofts

August 22, 2022
7:27 pm
HermanH
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I'm dealing with Kevin Rotenberg, at GIC Wealth Mgmt, and he told me that a couple of weeks before maturity, I will be contacted to decide what I want to do. If I choose not to re-invest, then a cheque is sent out to me so that I can deposit at the date of maturity.

He also said he would pay for my Registered mail to him.

August 23, 2022
4:00 am
savemoresaveoften
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HermanH said
I'm dealing with Kevin Rotenberg, at GIC Wealth Mgmt, and he told me that a couple of weeks before maturity, I will be contacted to decide what I want to do. If I choose not to re-invest, then a cheque is sent out to me so that I can deposit at the date of maturity.

He also said he would pay for my Registered mail to him.  

Yes they will cover the registered mail when you send in the check for GIC purchase. However you still end up losing days of interest, as GIC won’t start until they actually have the check in their hands. And Canada post not the best when it comes to timely delivery. That’s what happened to me last time. Maybe I should have used the next day courier but I am trying to save the broker some money too, bad mistake….

August 23, 2022
9:19 am
mustang
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I just sent my check in via regular mail, with a request for Kevin to call me, when he got it. So, I left the funds in an interest bearing account until that point, then moved them to the checking account, and told him to go ahead
I didn't see any advantage in going the registered mail route, it would be the same story anyway

August 23, 2022
9:45 am
savemoresaveoften
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mustang said
I just sent my check in via regular mail, with a request for Kevin to call me, when he got it. So, I left the funds in an interest bearing account until that point, then moved them to the checking account, and told him to go ahead
I didn't see any advantage in going the registered mail route, it would be the same story anyway  

That’s the smart way of doing it, rather than lending my bank free money for a week+ with the funds sitting in my checking account.
Thanks !

September 29, 2022
6:39 am
GR
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October 21, 2022
7:06 am
hwyc
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Are these short-term rates new ? 4% for 90-day, 120-day or 180-day term

October 21, 2022
7:17 am
COIN
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What's the best way for someone in Toronto to buy a Peoples Trust GIC? Their branch is in Vancouver so going to their branch in person is not practical for someone living in Toronto.

October 21, 2022
8:28 am
Bill
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hwyc, yes they're new, increased.

October 21, 2022
9:37 am
AltaRed
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COIN said
What's the best way for someone in Toronto to buy a Peoples Trust GIC? Their branch is in Vancouver so going to their branch in person is not practical for someone living in Toronto.  

Online like almost all of us who interact with FIs. I've not set foot in a brick and mortar branch for years.

October 24, 2022
7:04 am
GR
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1 yr. GIC Rate increased to 4.90%.

source: Cannex
Peoples Trust 1,000 4.9000 4.7500 4.7500 4.6000 4.6000

October 24, 2022
7:23 am
canadian.100
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GR said
1 yr. GIC Rate increased to 4.90%.

source: Cannex
Peoples Trust 1,000 4.9000 4.7500 4.7500 4.6000 4.6000  

This is truly an inverted yield curve with 5 yr @4.6 and 1 yr @4.9

November 1, 2022
11:20 am
Martster
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Both the 1 yr and the 15 month are 5% - great short term rates <1 yr as well - Long term 3 yr + are not top of market

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