3.18% 5 Years | Wealth One Bank of Canada | Discussion forum

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3.18% 5 Years
February 23, 2022
1:29 pm
COIN
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Not sure if it is targeted and/or new money only.
Terms
1 year
18 month
2 year
3 year
4 year
5 year
Rates
2.08%
2.18%
2.28%
2.68%
2.78%
3.18%

February 23, 2022
1:35 pm
MattS
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Till March 1st

February 23, 2022
2:00 pm
hwyc
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February 23, 2022
2:40 pm
Loonie
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These rates all looked very good when they first came out a month ago, but they have all since been exceeded by other FIs - including by WealthOne itself through deposit brokers!

February 23, 2022
3:14 pm
MattS
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Does anyone know of a better offer for registered funds? I have a decent chunk due mar 7 with a broker and judging by monarch’s web site I don’t think I’ll be offered anything at or above 3%… which for registered funds would make this the highest offer I know. Wealth one will not hold 3.18 rate if funds mature after March 1st . They did not have a problem with feb 28 and funds xfer by May 1 they would hold a rate if paperwork in March 1. Funds mature mar 2 and they not able to

February 23, 2022
8:08 pm
Loonie
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As far as I know, you're right; there is nothing above WealthOne for five years registered - today.
Maybe just hang in a bit longer and something might show up. Right now it seems the shorter terms are where the action is, but there is a lot of movement overall.

February 24, 2022
9:14 am
HermanH
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The GIC brokers are showing 3.2 and 3.3% for 5-yr

February 24, 2022
9:23 am
MattS
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But their registered products they offer less rrsp and tfsa
You can see this on monarchs website
You can’t get the 3.3 and 3.2 for rrsp

February 24, 2022
9:27 am
Norman1
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What are the minimums on those leading rates?

GIC Wealth's site says their 3.2% rate for a five year GIC is minimum $50,000.

Looked on Fiscal Agents site. Their best five-year GIC rate is 3% with a minimum $90,000!

February 24, 2022
9:30 am
GR
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For the past few weeks, it seems that Wealth One Bank has been consistently aggressive in offering highest or almost highest rates WITH BROKERS/AGENTS for non-registered GICs. Does this raise any concern about Wealth One's financial stability?

February 24, 2022
9:41 am
HermanH
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Why do you feel that Wealth One's use of GIC brokers is an indicator of instability?

W1 might just be using brokers because they are nearing the limit/end of their fundraising plans and want the flexibility to end the program on very short notice; their own advertised efforts may be less responsive.

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