4 year = 5.05%, 5 year = 5.10% (via Scotia iTRADE) | Scotiabank | Discussion forum

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4 year = 5.05%, 5 year = 5.10% (via Scotia iTRADE)
November 2, 2022
8:44 am
Norman1
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Through their related discount broker Scotia iTRADE:

Issuer 1 year 2 year 3 year 4 year 5 year
Bank of Nova Scotia
Bank of Nova Scotia Trust
Scotia Mortgage Corporation
Montreal Trust Company of Canada
National Trust Company
4.95% 5.00% 5.15% 5.05% 5.10%
November 2, 2022
8:55 am
lifeonanisland
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Won't be taking advantage of this, but I love the big banks getting competitive through their brokerages. Puts the pressure on the online banks and CUs to get even more competitive. Upward pressure on 5 years methinks...

November 3, 2022
3:22 am
RetirEd
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...and they don't have to worry about their mass-market retail customers grabbing all this high-interest paper, because almost none of them even know about brokerages - and even fewer of their deposit instruments.
RetirEd

RetirEd

November 3, 2022
8:06 am
COIN
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Norman1 said
Through their related discount broker Scotia iTRADE:

Issuer 1 year 2 year 3 year 4 year 5 year
Bank of Nova Scotia
Bank of Nova Scotia Trust
Scotia Mortgage Corporation
Montreal Trust Company of Canada
National Trust Company
4.95% 5.00% 5.15% 5.05% 5.10%

  

How do I find these rates on the iTrade website?

November 3, 2022
8:40 am
Jowett
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COIN said

How do I find these rates on the iTrade website?  

Don't click on "Quotes and research" but rather on "Trade". A few lines from the top click on GIC's.
For some reason itrade does not keep their quotes page updated on a timely basis.

November 3, 2022
8:45 am
Norman1
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One also needs a Scotia iTRADE account and sign in.

November 3, 2022
10:31 am
COIN
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Thanks guys. iTrade could have made finding these GIC's easier. Anyway, long story short, I found the GIC's but it didn't breakout the individual BNS entities. Does one have to call iTrade to find the name of the actual issuer (e.g. Scotia Mortgage), or do these rates apply across all BNS entities?

November 3, 2022
11:06 am
Norman1
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Where Jowett describes, there is a large table of the GIC issuers and rates. Kind of like the GIC chart on this site.

Each issuer has its own row in the table. Each of the Scotiabank family issuers has its own row. One will know whether one is buying the GIC from "Bank of Nova Scotia" or from "Bank of Nova Scotia Trust".

Their guide Purchase a GIC has the steps and screenshots.

November 19, 2022
7:17 am
hwyc
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Capture.JPG

Everybody (FI) has been busy tuning their GIC rates lately, even on a weekend for one of the big six ?

Screenshot-2022-11-19-at-10-11-07-GIC-Daily-Rates-Scotiabank-Advisor-Deposit-Services.png

November 19, 2022
7:39 am
canadian.100
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hwyc said
Capture.JPG

Everybody (FI) has been busy tuning their GIC rates lately, even on a weekend for one of the big six ?

Screenshot-2022-11-19-at-10-11-07-GIC-Daily-Rates-Scotiabank-Advisor-Deposit-Services.png

  

The rates for Scotiabank GICs purchased on iTRADE are still a bit better than those above. The 4 and 5 year rates do seem to be dropping now.
1 year 5.05%
2 years 5.10
3 years 5.10
4 years 4.90
5 years 4.90

November 19, 2022
8:23 am
Norman1
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Those Scotiabank ADS GIC rates include the customary 0.25% per year deposit brokerage commission.

The brokerage, like Scotia iTRADE, can decided to assign some of that (like 0.05% of the 0.25%) to the client for a higher yield (0.05% higher) to the client.

Please write your comments in the forum.