Investing

Any GIC/HISA accounts with big banks offering 3% throughout the year?

  • Last Updated:
  • Dec 28th, 2019 9:51 am
[OP]
Banned
Oct 17, 2015
306 posts
51 upvotes
Toronto, ON

Any GIC/HISA accounts with big banks offering 3% throughout the year?

I am getting a bit tired of the 3 month promos which essentially need one to jump through the hoops every few months to get high interest. Are there any offerings that can guarantee a 3% return for the whole year, preferably with big banks?
7 replies
Sr. Member
Jun 28, 2018
906 posts
638 upvotes
Toronto
In this low rate environment I don't think there'd be many if any permanent 3% accounts. However, some banks are hungry for deposits so they can lend out so attractive rates are still there.

Laurentian (big 8 bank) has a tiered 3.3% for under 500k and +1.25% above 500k. Damn, due to cdic 100k coverage, if only it was a big 5 bank I'd recommend it to parents.

https://www.lbcdigital.ca/
The Distracted Investor

Dividends through quality companies 😃 Though I usually lose money with trades :facepalm:
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May 11, 2014
4617 posts
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Iqaluit, NU
A bit complicated product, but this product from 1Q Bank can guarantee you 3% interest guaranteed for 3 years, and allowing you to save upto $1000 per month per account, but you have to meet 90% of your deposit goal to get the full 3%

1q-bank-dream-free-installment-deposit- ... #p31440862
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[OP]
Banned
Oct 17, 2015
306 posts
51 upvotes
Toronto, ON
xgbsSS wrote: A bit complicated product, but this product from 1Q Bank can guarantee you 3% interest guaranteed for 3 years, and allowing you to save upto $1000 per month per account, but you have to meet 90% of your deposit goal to get the full 3%

1q-bank-dream-free-installment-deposit- ... #p31440862
this is very interesting post, thank you for sharing.
the first big question is - can the bank be trusted with the money?
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May 11, 2014
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AdsJoint wrote:
this is very interesting post, thank you for sharing.
the first big question is - can the bank be trusted with the money?
If it's CDIC insured, why would It matter?

I have used 1Q Bank in the past. Not the best customer service, but workable. They are also owned by the second largest bank in South Korea.
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[OP]
Banned
Oct 17, 2015
306 posts
51 upvotes
Toronto, ON
vivmk20 wrote: Laurentian Bank has 3.3%. Though not sure how long will it keep it

https://www.lbcdigital.ca/
Yeah, this one seems to be as good as it gets when it comes to hisa. The next alternative is simplii at 2.8% but it is obviously a bait.
Overall, I wonder if I will be much better off buying bank stocks and get more than 4% yield. There are risks for sure as compared to HISA but still 4+ is certainly much better than this ridiculous never ending 3 month musical chairs drama

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