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Best 1 to 2 years TFSA ?
January 2, 2019
11:30 am
AlainJF
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In the 1 to 2 years TFSA, I found the Oaken 18 months @ 3.30% interesting.

ref: https://www.oaken.com/gic-rates/

Any better ideas ?

January 2, 2019
12:05 pm
Rick
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AlainJF said
In the 1 to 2 years TFSA, I found the Oaken 18 months @ 3.30% interesting.

ref: https://www.oaken.com/gic-rates/

Any better ideas ?  

Check this thread:
https://www.highinterestsavings.ca/forum/hubert-financial/hubert-financial/
DavidAlta13 did pretty much what I did with some RSPs. I like the flexibility of being able to renew quarterly without penalty, especially since interest rates are on the move. Have already taken advantage of rising rates @ Hubert to cash in and renew a 1 year GIC I took out earlier in the year. Expecting to have to do it again before the 1 year term is up. I think the new rate is .05% better than the next quarterly step I signed up at. Not worth cashing/renewing, but thinking maybe will be by next quarter.

January 2, 2019
1:50 pm
Loonie
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I like the quarterly GIC at Hubert too. If you time it right, it also enables you to do the December manoeuvre if you want to when the time comes, by cashing in at nine months. You could put the money in the daily rate TFSA at Hubert until March, then transfer to the one year rate, then by December you're at nine months.

The Oaken 18 month rate is also good.

If it's just for this year's TFSA contribution, I'd go with a FI where you already have accounts. Not worth opening up new one just for this small amount. If neither Hubert nor Oaken fits the bill, I'd wait a bit. There's not much to lose, and another deal is likely to come along somewhere.

January 2, 2019
2:07 pm
AlainJF
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Loonie said
I like the quarterly GIC at Hubert too. If you time it right, it also enables you to do the December manoeuvre if you want to when the time comes, by cashing in at nine months. You could put the money in the daily rate TFSA at Hubert until March, then transfer to the one year rate, then by December you're at nine months.

The Oaken 18 month rate is also good.

If it's just for this year's TFSA contribution, I'd go with a FI where you already have accounts. Not worth opening up new one just for this small amount. If neither Hubert nor Oaken fits the bill, I'd wait a bit. There's not much to lose, and another deal is likely to come along somewhere.  

I will most probably move in the next few months, as I typically do the "December trick" by taking 18 months (or something else similar) that puts me as close as possible to end-of-December. The fact that Oaken does not have TFSA account is not ideal, but when it ends close to the end-of-December, it is not a big deal to have it outside TFSA for a little time.

January 2, 2019
2:26 pm
Loonie
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AlainJF said

I will most probably move in the next few months, as I typically do the "December trick" by taking 18 months (or something else similar) that puts me as close as possible to end-of-December. The fact that Oaken does not have TFSA account is not ideal, but when it ends close to the end-of-December, it is not a big deal to have it outside TFSA for a little time.  

I think you must have meant that Oaken does not have a TFSA SAVINGS account?
They do, however, have free transfers-out (so far), so that might provide an option. Maybe, by then, they will have a Savings option. They've been around long enough now that five year GICs will be maturing, and they will get the message if we vote with our feet!

January 2, 2019
5:31 pm
Yatti420
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No Hubert Transfer Fees - Including Registered Products... sf-cool

January 2, 2019
8:00 pm
AlainJF
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Loonie said

I think you must have meant that Oaken does not have a TFSA SAVINGS account?
They do, however, have free transfers-out (so far), so that might provide an option. Maybe, by then, they will have a Savings option. They've been around long enough now that five year GICs will be maturing, and they will get the message if we vote with our feet!  

Yes, that is what I meant: Oaken does NOT have TFSA SAVINGS account to hold the money temporarily in TFSA. Same for RRSP SAVINGS account, which is a bigger problem to me.

January 2, 2019
8:35 pm
Loonie
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I agree. I will be transferring out my RIFs there starting next year when they mature unless they introduce a savings option. It's far too awkward to not have one.

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