Who has the best cashable/redeemable GIC rate right now? Thinking of parking cash somewhere. Need to be able to access it on short notice (30-60 days) ideally without any penalties or fees.
smartie wrote: ↑
Do you think GIC rate will increase after BOC meeting?
If rates increase again, GIC’s will bounce just high enough to get people to buy, but they won’t reach previous highs. The banks have figured out that by dropping a bit people will rush to buy before they drop any further, and will continue this yo-yo until folks have had enough and will hold out for more. We’ve been starved for decent rates for so long though, that 5% looks like a windfall and most are happy to get anywhere near that… the banks know it and currently don’t have any incentive to go any higher.
musiclover4 wrote: ↑
Who has the best cashable/redeemable GIC rate right now? Thinking of parking cash somewhere. Need to be able to access it on short notice (30-60 days) ideally without any penalties or fees.
Depending if its a large amount of cash, 30-60 days, might as well HISA.
Oaken Financial has 3.4%.
If you dont have an account, stay put where you are. Not worth the trouble since it takes a few days to move the money, and its per annum interest.
ohnabatko wrote: ↑
Open an RBC DI account
Minimum Purchase (CAD) for a 1 year term: Registered accounts: $3,500 | Non-registered accounts: $20,000
If I may ask, what's the difference between opening an RBC DI account vs. HSBC account? What's the difference or benefits on a HISA vs. GIC with HSBC at the moment if the rates are similar?
Hi all. I have a significant amount of money and currently do not have any investments, including not using any of my TFSA contributing room.
I have tried to do some preliminary research but it is all a little daunting. Since I do not have any knowledge on this right now, I was just going to invest the maximum amount in a 1 year GIC.
I had an appointment with a TD financial adviser in December but he died (really sad) and I've left it since then.
My money is currently in a TD bank account. Should I invest in a GIC TFSA there or somewhere else?
Can anyone provide me any resources for the future about how I can go about investing my money?
baskiddball wrote: ↑
Hi all. I have a significant amount of money and currently do not have any investments, including not using any of my TFSA contributing room.
I have tried to do some preliminary research but it is all a little daunting. Since I do not have any knowledge on this right now, I was just going to invest the maximum amount in a 1 year GIC.
I had an appointment with a TD financial adviser in December but he died (really sad) and I've left it since then.
My money is currently in a TD bank account. Should I invest in a GIC TFSA there or somewhere else?
Can anyone provide me any resources for the future about how I can go about investing my money?
If you don't know investment, then go slow.
If you don't need those money, keep majority in GIC and spend more time to do research on investment is better than rush in and panic selling. Cann keep small amount to try. Index is a good starter, but again, go slow and start small
smartie wrote: ↑
If you don't know investment, then go slow.
If you don't need those money, keep majority in GIC and spend more time to do research on investment is better than rush in and panic selling. Cann keep small amount to try. Index is a good starter, but again, go slow and start small
Thank you so much for taking the time to respond.
The person above me just talked about a 1 year 5.2 percent GIC at Scotiabank. Should I move my money from TD to another place I can get a rate like that?
Do I have to spend money at TD for the advisor if I invest in an Index fund? Do I buy the index myself? Is that a mutual fund?
I am trying to understand before I invest all of my TFSA contribution room. Any advice or a starting point would be very appreciated.
HSBC lowered their 4 and 5 year GIC rates as of today.
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