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3% 1Yr through Some Brokers
August 21, 2018
6:56 am
Nehpets
Ontario
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Reported by Scrivens in Ottawa and possibly GIC Wealth Mgmnt, Wealth One is offering 3% on 1 Year term min. $25,000 (CDIC insured) through their broker network.

This offer does not appear on W1 website as of this morning.

August 21, 2018
7:23 pm
Bud
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Would anyone put more than 100k into this bank?

August 22, 2018
9:08 am
Vatox
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Watching the rates change for this bank,is entertaining. The GICs are now right near the top on the chart.

August 22, 2018
7:12 pm
Bud
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Why were they stingy before now at the top of the charts..

August 22, 2018
10:39 pm
Vatox
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hotmony said
Why were they stingy before now at the top of the charts..  

I think they threw the 2.5% out there last fall in order to gain deposits and new clients like me. They then discovered that 2.5% on savings was too high for their business model and dropped. Of course most of us probably withdrew our cash and now they are trying to lure us back with better GICs. But I'm not biting because I can get roughly the same GIC rates from banks I trust, respect and am loyal to. W1 needs to offer higher than everyone if they want me back. I mean much higher. The savings account needs to be 2.5% with no intent to drop unless the BoC drops. And even then, I'm quite happy to be loyal to EQ at 2.3%.

August 23, 2018
6:39 am
Bud
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"Roughly" the same who else is offering 3% for 1yr?

August 23, 2018
9:12 am
Vatox
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hotmony said
"Roughly" the same who else is offering 3% for 1yr?  

I consider 0.5% to be large, 0.2% more from EQ at 2.8% is too little to bother. If it's an FI I like then I definitely would take the extra 0.2%.

August 25, 2018
6:41 pm
Loonie
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I take a similar view to Vatox on this, when it's a one year term and the maximum insurability is 100K.
But where the max insurability is higher, at CUs, and the investment is larger, and the term is longer, .2% can add up to a significant amount of money, so I would view that differently.

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