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Email this6:06 pm
October 11, 2015
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Rate Valid until Feb 18th 2022:
388 day Non-Redeemable GIC Special – 1.68% (many clients are choosing this at the moment)
6:19 pm
January 11, 2020
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388 days.. that way they have your money to the end of the rrsp promotional period ending mar 1st next year… this is exactly why I know longer have any business with the big 5. They are pretty much parasites
6:27 pm
January 11, 2020
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I must add I have a personal policy of not dealing with the big 5 banks but was lured back by Cibc this yr with the 3.25% offer UNTIL I asked about them honouring their rate in the event of a sudden rate change during the xfer Period that can be up to 3 wks when xfer ing rrsp from another institution. They said sorry of rate changes they will not honour. I’m like what? I initiate based on 3.25, once process is in limbo, I’m charged a xfer fee and then you don’t honour the rate ? What then? I am free to choose the best term they offer at the time.. what a joke. Or pay another fee to xfer out of them… so I was reminded of why in 2005 I promised myself to de bank from the big 5. So to make this post relevant to the current thread, guys don’t walk away , RUN AWAY!! This is nothing more than the silver tongued devil trying to get you to take a bite of the apple. Can you tell I hold a grudge? Yes I do.
9:06 pm
October 21, 2013
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Anyone interested in this offer should ask if this is an annual rate or a rate for the entire term. I think it's likely the latter, which would mean annual rate is less.
I think they are trying to be clever with that "388", pegged to attract those celebrating Chinese New Year or similar.
There are several FIs where you can do better for a one year term., although probably fewer options for RSP.
Don't trust anyone who tells you the transfer will take 3 weeks, especially this time of year. It might, but it also might take significantly longer, and occasionally less.
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