So many bank promos, I feel like as soon as I transfer to this from a 3.15% promo, another even slightly higher one will pop up.
EQ Bank 3.33% 3 month GIC
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- 2damax
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- Sep 27, 2007
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- BigThanks
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Big thanks for posting this.
- GiOBoY
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It's only 3 months... then you jump to the next best offer in Feb
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- GiOBoY
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- GiOBoY
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It's better pulling, you get 1 or 2 days of double interest.
I always pull instead of push for this reason.
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- turtleh
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Thanks OP. My Simplii application was just approved, but this saves me the hassle.
- JCCRFD
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- GiOBoY
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Technically yes, to maximize i usually pull on Fridays after 4pm.chinesedevil wrote: ↑ So you're saying we can pull back and forth between banks for big gains?
Sat&Sun count as 2 days double interest as the transaction clears by end of day Monday.
But I do not pull between banks every week just for this - that's just silly.
I read the tip in the massive highinterestsavings forums when moving funds in & out for the Tangerine lottery.
So I only do pulls on Fridays every 3 to 6 months - because Tangerine loves to play the interest rate game.
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- IEpicDestroyer
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- Dec 25, 2017
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Dang it, I just moved everything into RBC eSavings.. oh well, I'll just keep it there for now, interest rate isn't that higher..
- endokuken
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Just moved cash over from EQ to tangerine for 3% promo rate but now tempted to go back for this
- engineered
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I was also about to xfer to Simplii, but now may do this. I just worry that they'll be a better offer from another bank next week.
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- L4cky
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- Mont-Royal
What is the maximum?
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- baijuxp
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- ChiliPalmer
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Fine Print on the bottom of the EQ Bank website:
- In all cases, interest is accrued for the entire GIC term.
- Maximum 20 GICs per customer.
- Per GIC investment limit of $100,000. Aggregate GIC investment limit of $500,000.
If you use EQ Bank I would very strongly suggest to stay within CDIC limits.
Last edited by ChiliPalmer on Nov 6th, 2018 6:13 pm, edited 2 times in total.
- Frankie3s
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- Jul 4, 2004
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Sadly Tangerine holds are ridiculous, 7 business days and yet when the money is over at RBC or TD it's available instantly.
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- Frankie3s
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- Jul 4, 2004
- 9473 posts
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Absolutely. When I banked with Oaken and we had that scare a little while back, I could've had to walk away from a fortune if they had gone under. Do NOT exceed the CDIC coverage limit.ChiliPalmer wrote: ↑ Fine Print on the bottom of the EQ Bank website:
- In all cases, interest is accrued for the entire GIC term.
- Maximum 20 GICs per customer.
- Per GIC investment limit of $100,000. Aggregate GIC investment limit of $500,000.
If you use EQ Bank I would very strongly suggest to stay within CDIC limits.
Help an animal charity or sanctuary out today. Become a volunteer, advocate, foster a pet, or donate. They need you as much as you need them!
- sylvestor2002
- Deal Addict
- Nov 6, 2003
- 2558 posts
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Why is it called a GIC if the principle is not guaranteed ? What is the CDIC limit ?
Can I purchase 3 x $1000 GIC's ? Then if I want to cash out a $1000 before the maturity date, can I still get the entire value of $1000 ? Will I have to pay a penalty ? Will the remaining 2 x $1000 be negatively affected ?
- ChiliPalmer
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It's Guaranteed as long as the Bank has enough funds to pay it. (Failing that, CDIC will do their part)sylvestor2002 wrote: ↑ Why is it called a GIC if the principle is not guaranteed ? What is the CDIC limit ?
Can I purchase 3 x $1000 GIC's ? Then if I want to cash out a $1000 before the maturity date, can I still get the entire value of $1000 ? Will I have to pay a penalty ? Will the remaining 2 x $1000 be negatively affected ?
The very quick answer is $100,000 CDIC coverage. But you can also get an additional 100k for joint, and registered accounts.
You will not be able to cash out before the maturity date. If that's your plan - go with Tangerine, RBC, Simplii offers - where you aren't locked in.
- mkl38s
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- Jan 21, 2014
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I think when you transferred money to TD or RBC, you pushed it from Tangerine or Simplii or EQ, so there is no wait at TD/RBC. Because you pull from Tangerine or EQ, the money will be held for 5 business days, just like you deposit a cheque. We don't initiate a pull of money at RBC/TD because that would cost us transferring fee
- mkl38s
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It's not possible to have joint or registered account at EQChiliPalmer wrote: ↑ It's Guaranteed as long as the Bank has enough funds to pay it. (Failing that, CDIC will do their part)
The very quick answer is $100,000 CDIC coverage. But you can also get an additional 100k for joint, and registered accounts.
You will not be able to cash out before the maturity date. If that's your plan - go with Tangerine, RBC, Simplii offers - where you aren't locked in.