Expired Hot Deals

[Coast capital savings] 4% convertible term deposit

  • Last Updated:
  • Mar 20th, 2018 3:34 am
Member
Apr 10, 2017
335 posts
125 upvotes
Toronto
when you go online it requires you to be in BC to invest. Have reached out to their customer service. Not sure if they will fix it but hopefully they do.
Newbie
User avatar
Apr 20, 2009
81 posts
45 upvotes
Ottawa
great find OP!
too bad that it is BC only
Newbie
Feb 15, 2018
1 posts
vancouver, bc
Coast capital savings is not a CDIC member.
Deal Addict
User avatar
Dec 27, 2009
4701 posts
2126 upvotes
Ottawa, ON
iamice wrote:
Feb 16th, 2018 12:48 pm
Coast capital savings is not a CDIC member.
Coast Capital is a very well respected and safe institution. Has been around for decades. I lived my first 43 years in Victoria, and Coast Capital was many, many people's choice for where to bank.
Deal Addict
User avatar
Dec 27, 2009
4701 posts
2126 upvotes
Ottawa, ON
If I still lived in BC I would go for this in a heartbeat! I just left a message on my mom's phone about it (she lives in Victoria still).
Member
Mar 23, 2009
227 posts
53 upvotes
Toronto
Anyone know why you have to live in BC to open an account? What if you "temporarily" lived in BC and moved the next month after setting this up to Ontario? Grinning Face With Smiling Eyes
Member
User avatar
Apr 5, 2016
410 posts
547 upvotes
BC
It's 4% annualized.
They are looking to get cash to finance their expensive expansion across Canada.
That is why they are becoming a federal credit union and will eventually not be covered by the Credit Union Guarantee (CUDIC) but rather CDIC.
Info available in my earlier posts or on the Coast Capital website.
Fido Public Mobile Shaw Tangerine
Jr. Member
Jun 19, 2009
109 posts
5 upvotes
richmond
astroboy100 wrote:
Feb 23rd, 2018 5:00 pm
Anyone know why you have to live in BC to open an account? What if you "temporarily" lived in BC and moved the next month after setting this up to Ontario? Grinning Face With Smiling Eyes
you must have proof of BC living address at the time of acct opening. ie your bc driver license with a bc address. You’re free to live anywhere after the account is opened, they won’t take the account away.
Member
User avatar
Apr 5, 2016
410 posts
547 upvotes
BC
If you're interested in this GIC deal, don't forget about the $200 promotion for opening a Coast Capital (FREE) chequing account.
Details / Thread: HERE
Fido Public Mobile Shaw Tangerine
Deal Fanatic
May 9, 2007
5669 posts
654 upvotes
Vancouver Island, BC
I put some money into RRSP using this. I asked about the duration of the offer. He said it is a “soft date” that may be extended if they have not yet reached their capitalization goal.
Earthlings, you're evicted.
You are not getting the damage deposit back.

God
Member
Oct 25, 2010
365 posts
144 upvotes
Coast Capital Savings credit union, which is only in BC as far as I know, is offering 4% interest on their convertible term deposits that are 33 months long.

"Get a 4.00% interest rate with our 33-Month Convertible Term Deposit.

Switch to another non-redeemable term deposit with an equal or longer maturity date if interest rates go up. Plus, if you do switch, you’ll get an additional 0.10% bonus on any posted rates.
Minimum investment of $500. Available in Non-registered and Registered Accounts such as an RRSP, RRIF, RESP or TFSA.
Offer available for new money only from non-Coast Capital sources. Our standard 2.55% interest rate is available for money already deposited in existing Coast Capital products.

Hurry, this limited time offer ends March 20, 2018."

"Looking to earn a guaranteed rate of return? Then a term deposit might be right for you. When you open a term deposit you'll lock into a fixed interest rate that is guaranteed for the length of the entire term. Not bad, eh? Once you lock in your money, you won't be able to touch it again until your term ends.

With our 33-Month Convertible Term Deposit, you also get the added flexibility of being able to switch to another non-redeemable term deposit with an equal or longer maturity date if interest rates go up. And, if you do switch, you'll get an additional 0.10% bonus on any posted rates. That way, if rates do go up, you won't get left behind."

Fineprint: Interest rates are subject to change without notice and are calculated on a per annum basis. Product change is one-time only and must be to a non-redeemable term of equal or greater remaining length of original term. Minimum investment of $500; maximum investment of $25,000,000; eligible for non-registered, TFSA, RRSP, RRIF, and RESP contributions. Offer ends March 20, 2018. Offer available for new money only which must come from non-Coast Capital sources.
Offer available for new money only which must come from non-Coast Capital sources. New money is defined as dollars not currently on deposit with Coast Capital Savings or money that has been on deposit for 60 days or less.

The appointments are going quick. I was told that as long as I book my appointment prior to March 20, my appointment could be anytime prior to April 3, but you should confirm that yourself, as I may have gotten my dates wrong.

I moved my money from Simplii Financial once their 3% ended, to Tangerine for their 2.5%, to this, as 4% is great and I like that it's convertible in case rates go up.
Last edited by Ryes on Mar 15th, 2018 3:14 pm, edited 2 times in total.
Jr. Member
User avatar
Sep 8, 2008
134 posts
6 upvotes
Canada
MexiCanuck wrote:
Mar 4th, 2018 1:44 pm
I put some money into RRSP using this. I asked about the duration of the offer. He said it is a “soft date” that may be extended if they have not yet reached their capitalization goal.
What is the definition of Soft date. Tomorrow lets say there is political and economic instability and BOC interest rate goes down, are the rates still guaranteed?

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