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Wealth One One yr GIC rate
October 14, 2021
11:38 am
Alexandra
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Wealth one rate for one year gic is 1.5% but if you go through GIC direct their one year rate through Wealth One is 1.56%. Just saying.

October 15, 2021
3:00 pm
canadian.100
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Alexandra said
Wealth one rate for one year gic is 1.5% but if you go through GIC direct their one year rate through Wealth One is 1.56%. Just saying.  

So one would get $1500 vs $1560 annual interest before income tax on a $100,000 GIC. Just saying.

October 15, 2021
3:21 pm
Alexandra
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canadian.100 said

So one would get $1500 vs $1560 annual interest before income tax on a $100,000 GIC. Just saying.  

Hey? Forty bucks would get ya a really nice bottle of wine. No? And one could celebrate their clever investment with a bottle every year too!

October 18, 2021
10:16 am
Alexandra
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Got an e-mail this morning from Wealth One. They have extended their five year GIC of 2.88% until 22 October. (This Friday).sf-surprised

October 18, 2021
11:15 am
Loonie
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Thanks for that, Alexandra. I've been putting it off, just in case something better came along (not likely). This is a busy week for me, so I welcome the extension.

February 28, 2022
2:22 pm
GR
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Wealth One Bank 1 Year GIC rate tomorrow, ONLY WITH BROKERS/AGENTS, will be 2.81%.

February 28, 2022
6:11 pm
Loonie
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GR said
Wealth One Bank 1 Year GIC rate tomorrow, ONLY WITH BROKERS/AGENTS, will be 2.81%.  

This is actually already showing on GICWealth site but provider not identified
https://gicwealth.ca/gic-rates-arent-high-enough-rates/

February 28, 2022
6:52 pm
COIN
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"provider not identified"

Do they ever tell you who is the issuer of the GIC?

February 28, 2022
7:17 pm
savemoresaveoften
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the aggressive nature of how quickly wealth one pumps up its 1y GIC offering actually makes me uncomfortable to invest in that name, even tho upto 100k is cdic protected.....

March 1, 2022
1:09 am
HermanH
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COIN said
"provider not identified"

Do they ever tell you who is the issuer of the GIC?  

Yes, they do. I called Wealth Management and GIC Wealth and both told me the issuer for their rates.

March 1, 2022
5:50 am
canadian.100
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savemoresaveoften said
the aggressive nature of how quickly wealth one pumps up its 1y GIC offering actually makes me uncomfortable to invest in that name, even tho upto 100k is cdic protected.....  

You are so right on this. As I have noted before, WealthOne Bank is not profitable so far, so CDIC protection is important when depositing with them. Obviously, they need to pay "this top rate" to be able to attract deposits.
This also underlines why exceeding CDIC limits is not a big deal when dealing with the big 5. While the big banks pay lower interest rates, depositors get high safety and security of their money on deposit in return.

March 1, 2022
7:45 am
COIN
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HermanH said
Yes, they do. I called Wealth Management and GIC Wealth and both told me the issuer for their rates.  

Are you allowed to name the institutions, if not the actual names, can you confirm they are of high repute? Thanks.

March 1, 2022
11:19 am
HermanH
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The times I called brokers, they told me the GICs they quoted in their current offers were from WealthOne and Haventree Bank. You would have to make your own assessment as to the reputation of those individual institutions. At least you would have a name from which to start.

March 1, 2022
12:23 pm
savemoresaveoften
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Brokers will tell you issuer's name, esp if ur a current customer. You need to know the name esp for CDIC purposes.

March 1, 2022
1:58 pm
COIN
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savemoresaveoften said
Brokers will tell you issuer's name, esp if ur a current customer. You need to know the name esp for CDIC purposes.  

Thanks. Do the brokers provide a list of names and their rates for you/me to select. That's what my investment broker does.

April 8, 2022
3:01 pm
semi-retired
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Went to Scrivens in Ottawa today & purchased a 1 yr. Gic at Wealth One Bank for 3.12 %,min 25000.00 required.CDIC insured,& very pleasant to deal with.Interest gets put into our personal checking acc at maturity & the principal comes to Scrivens as a check.We can do what we want with it.They do not roll it over without directions.I showed the agent this website & said to get in touch to possibly get listed in the Broker section of the GIC's.Scrivens deal with a large # of FI's.

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