2:42 pm

December 29, 2009

1:26 am

September 30, 2013

7:27 am

January 23, 2013

Vig Lacera saidSo, how much money would a person 'lose' if interest is compounded annually instead of monthly?

Enough to make younotwant to switch to Steinbach CU?

Just for simplicity, PC Financial GIC pays interest monthly and they have table to compare it to annual interest rate. According to the table annual 2.00% rate is equal to monthly 1.982%. So 1.9, I guess, is about 1.883?

7:25 pm

September 30, 2013

8:25 pm

October 21, 2013

I note that Steinbach offers slightly higher rates for bigger accounts. Might be useful to somebody who needs to park a bundle, especially since their deposit insurance has no ceiling.

Regular Savings less than $100,000 1.90%

Regular Savings $100,000 - $250,000 1.95%

Regular Savings more than $250,000 2.00%

6:11 am

February 20, 2013

It looks like this account also only pays interest on the minimum monthly balance. I couldn't find any reference as to fees for withdrawals like some of their other accounts have.

Regular Savings – Provides excellent flexibility, our best variable interest rate and no minimum monthly balance requirement. Interest is calculated on the minimum monthly balance on deposits made on the first day of each month*, and is paid on December 31. Tiered rates are available for larger deposits starting at $100,000. Interest on the entire balance is paid at the tiered rate.

*Some restrictions apply.

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