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Email this12:55 pm
January 9, 2011
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Does anyone have an idea why I can buy their GIC through my direct investment broker's account and get 3.53%, when buying the same thing direct from People's only pays 2.9% (according to the GIC rates comparison chart here)? Isn't that backwards from the norm, or maybe the comparison chart here isn't up to date?
I found this out by mistake, because of following the discussion thread about Oaken and Fairstone which got me looking around (another example of how great this forum can be!).
My memory's not as sharp as it used to be. Also, my memory's not as
sharp as it used to be.
5:33 pm
January 12, 2019
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" Live Long, Healthy ... And Prosper! "
5:48 pm
January 9, 2011
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Dean said
.
The GIC Chart here is up-to-date.
Thought it would be. So, very interesting about my upcoming GIC expiry, likely cancelling it in order to transfer funds into Investors Edge where Peoples probably pays a commission to Investors Edge, and then.....buy a People's GIC at a higher rate!
My memory's not as sharp as it used to be. Also, my memory's not as
sharp as it used to be.
6:29 am
December 20, 2016
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dougjp said
Does anyone have an idea why I can buy their GIC through my direct investment broker's account and get 3.53%, when buying the same thing direct from People's only pays 2.9% .....
Not unusual at all, in fact very common. FI's engage brokers to sell their GIC's in order not to have to do the administrative work in direct dealing with the investor, especially for small amounts. It's worth paying a higher rate through brokers and not have to do the admin work.
Also brokers often have flash one day deals when a FI needs a limited investment input.
A good reason to establish a working relationship with a good GIC broker.
Stephen
10:30 am
March 6, 2026
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For sure no longer a leader in rates or Trust Worthy.
12:44 pm
August 4, 2010
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Paying high rates of interest is not the sort of "leadership" a financial institution wishes to exercise. It is more in the category of "necessary evil", which they hope can be made unnecessary... 🙂
10:14 am
May 26, 2026
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Thanks for your post.
Gilker said
For sure no longer a leader in rates or Trust Worthy.
Are you able to provide the link to the RBC Direct GIC rate table? I was not able to locate this when searching the web.
11:24 am
August 4, 2010
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As far as I know, none of the brokerages let you see their GIC charts without being logged into their trading apps.
And like Chekhov's unhappy families, each GIC page is ugly and awkward in its own way.
11:13 am
September 24, 2019
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dougjp said
Does anyone have an idea why I can buy their GIC through my direct investment broker's account and get 3.53%, when buying the same thing direct from People's only pays 2.9% (according to the GIC rates comparison chart here)? Isn't that backwards from the norm, or maybe the comparison chart here isn't up to date?I found this out by mistake, because of following the discussion thread about Oaken and Fairstone which got me looking around (another example of how great this forum can be!).
Yes, I'm glad I've been listening in here too lately. Because I have funds coming due from Peoples and others (old Motive), I called GIC direct (Monarch), and they are offering better rates for say Peoples Trust and Wealth 1.
With Peoples Trust for instance you can get 3.8% for the two year GIC vs 3.0 with Peoples on line. MCAN is 3.73 for 2 year & 3.92% for 3 yr. Wealth One at 3.8% for the 2 yr vs 3.75%. So, really worth looking at.
This is the best site with so many knowledgeable people. I personally really appreciate all of you for your insights.
