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EQ Bank 3.33% 3 month GIC

  • Last Updated:
  • Nov 16th, 2018 11:52 am
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136 replies
Newbie
Aug 19, 2011
68 posts
31 upvotes
Vancouver
Sweet, thanks OP!

I was about to move money to Simplii, but just bought this instead.
Deal Addict
Oct 7, 2007
4042 posts
1217 upvotes
kycka1 wrote:
Nov 6th, 2018 11:40 am
Sweet, thanks OP!

I was about to move money to Simplii, but just bought this instead.
Just in process of moving funds out of EQ but will probably move them back. Thanks OP!
Deal Fanatic
User avatar
Apr 9, 2006
8249 posts
9068 upvotes
GT-EH
If I do a pull from Tangerine today, how long does it take for the funds and transaction to clear so that I can buy the GIC?
I just like to collect things! ¯\_(ツ)_/¯
Behold, true glory. #PCMasterRace!
Deal Addict
User avatar
Jul 3, 2002
2581 posts
500 upvotes
GTA
Thanks OP, so much better than constantly shuffling money in and out of EQ
Sr. Member
User avatar
Oct 7, 2012
507 posts
321 upvotes
How long will this rate be available?
I am a Public Mobile subscriber
I am a Koodo subscriber
Deal Fanatic
User avatar
Apr 9, 2006
8249 posts
9068 upvotes
GT-EH
kangaroo11 wrote:
Nov 6th, 2018 12:17 pm
How long will this rate be available?
I don't know... but I've initiated a transfer from my Tangerine account just now and I hope it clears before Friday so I can buy this before they pull the offer. :facepalm:
I just like to collect things! ¯\_(ツ)_/¯
Behold, true glory. #PCMasterRace!
Sr. Member
User avatar
Oct 7, 2012
507 posts
321 upvotes
GiOBoY wrote:
Nov 6th, 2018 12:24 pm
I don't know... but I've initiated a transfer from my Tangerine account just now and I hope it clears before Friday so I can buy this before they pull the offer. :facepalm:
I sent them an email. I'll update the thread once I know.
I am a Public Mobile subscriber
I am a Koodo subscriber
Deal Addict
Jul 26, 2009
3535 posts
1522 upvotes
Edit: Did the live chat - very quick to get a CSR on the chat and answers to questions!

Are the funds automatically deposited back into your account at maturity?

Answer: Yes, it is automatic

How long is the 3 month 3.33% offer on until?

Answer: No set timeline, the offer was just launched today.
Newbie
Apr 16, 2012
35 posts
13 upvotes
Montréal
johnnyblayze wrote:
Nov 6th, 2018 12:39 pm
Are the funds automatically deposited back into your account at maturity?
https://www.eqbank.ca/personal-banking/common-questions

What happens at maturity?
The money you deposit into a GIC is guaranteed to provide a specific rate of return. On the maturity date, your GIC’s principal and any interest earned that has not already been paid will be deposited into your EQ Bank Savings Plus Account. At that time, you can choose to reinvest your money into a new GIC at the then current rates.
Newbie
Nov 5, 2018
1 posts
On the link it says it is available for 2 years at over 3%. If this is not the case, can someone say what happens after 3 months and perhaps provide an example of how interest would accumulate?
Deal Addict
Jul 26, 2009
3535 posts
1522 upvotes
sdreyfuss wrote:
Nov 6th, 2018 12:48 pm
https://www.eqbank.ca/personal-banking/common-questions

What happens at maturity?
The money you deposit into a GIC is guaranteed to provide a specific rate of return. On the maturity date, your GIC’s principal and any interest earned that has not already been paid will be deposited into your EQ Bank Savings Plus Account. At that time, you can choose to reinvest your money into a new GIC at the then current rates.
I guess I could have looked for that myself lol.
Newbie
Sep 5, 2014
39 posts
87 upvotes
calgary
Thanks OP
Its good that i didn't transfer money to simplii
Deal Addict
Jul 26, 2009
3535 posts
1522 upvotes
So only (potential) downside is having to report your interest earnings as taxable income...

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