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[EQ bank] EQ bank 1.5% 3 month GIC

  • Last Updated:
  • Apr 18th, 2021 11:55 pm
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[OP]
Sr. Member
Mar 6, 2006
732 posts
550 upvotes
GTA

EQ bank 1.5% 3 month GIC

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EQ bank
Not a huge deal but the current annual interest rate is 1.25%.
For instance, transfer $100k to GIC for 3 months and get an extra $62.5.
6 months - 1.3%
9 months - 1.25%
1 year - 1.3%
Last edited by Midav on Apr 18th, 2021 1:20 pm, edited 1 time in total.
37 replies
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Apr 17, 2005
4795 posts
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Kitchener
If you have TFSA contribution room, their current rate is 2.3% for TFSA.
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Jr. Member
Dec 18, 2018
128 posts
552 upvotes
Thundercloud wrote: If you have TFSA contribution room, their current rate is 2.3% for TFSA.
In May, they will drop the TFSA rate to 1.25%.
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Apr 17, 2005
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Kitchener
TimmyT20801 wrote: In May, they will drop the TFSA rate to 1.25%.
Hmm... Might want to buy their 3 months 2.3% registered GIC to lock it down then.
someone16 wrote: Even better to buy crypto for more gains.
Well, it's true that you can buy the dip right now.
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Jr. Member
Nov 2, 2015
158 posts
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Toronto, ON
Investing 100% in GIC at 1.5% is definitely NOT the wisest investment strategy.
Sr. Member
Feb 16, 2010
798 posts
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Toronto
ConnectMe wrote: Investing 100% in GIC at 1.5% is definitely NOT the wisest investment strategy.
Investing 100% into any one thing is never wise.
Jr. Member
Nov 2, 2015
158 posts
131 upvotes
Toronto, ON
I also meant 100k into GIC at 1.5%
Newbie
Oct 29, 2018
30 posts
5 upvotes
For 3 to 6 months nerd to invest money somewhere. Regular bank savings interest rate only 0.05%. Any suggestions to invest funds with no risk for 3-6 months? After that shoukd be able to withdraw with draw without any penalty or taxes. Kindly share your advise.
Newbie
Oct 29, 2018
30 posts
5 upvotes
Is EQ bank safe to save funds? Never dealt with it.
Deal Addict
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Jan 7, 2014
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calgary
buy xrp while its dipping.. bought 50k when its was at .31 cents
xrp to the moon and be rich in 2 yrs
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May 20, 2017
615 posts
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SamDurham wrote: Is EQ bank safe to save funds? Never dealt with it.
Yes is very safe but disadvantages is you need about 8 days to allow yourself time to withdraw the fund
Deal Fanatic
Jan 21, 2014
5468 posts
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wonderwhy wrote: Yes is very safe but disadvantages is you need about 8 days to allow yourself time to withdraw the fund
This is incorrect. if you link EQ with one of the big banks (say TD) and push your fund over to TD, it's available the next day. I have done this before
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May 20, 2017
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mkl38s wrote: This is incorrect. if you link EQ with one of the big banks (say TD) and push your fund over to TD, it's available the next day. I have done this before
Really but when I deposit the fund to EQ it take about 5 days to clear from TD and show in the EQ 6 or 7 days my fund is available
Deal Addict
Nov 12, 2015
3412 posts
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wonderwhy wrote: Really but when I deposit the fund to EQ it take about 5 days to clear from TD and show in the EQ 6 or 7 days my fund is available
Depends on the amount. Also from my knowledge, interest starts on the day you initiate the transfer to EQ.
Stay strong, situation always looks harder and that it will never end when you are in the middle of it, but remember past experiences, everything has an ending.
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May 2, 2017
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s'toon
mkl38s wrote:
This is incorrect. if you link EQ with one of the big banks (say TD) and push your fund over to TD, it's available the next day. I have done this before
wonderwhy wrote: Really but when I deposit the fund to EQ it take about 5 days to clear from TD and show in the EQ 6 or 7 days my fund is available
Just recently moved funds around.
EQ push out takes 1 day to show on other bank. Stops earning interest on day 0.
EQ pull in takes 5 business days to be available, but will already be out of the other bank around 2 days. Also starts earning interest on day 0.

These are externally linked banks.
Last edited by Seanne on Apr 18th, 2021 9:34 am, edited 2 times in total.
Sr. Member
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May 20, 2017
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Seanne wrote:


Just recently moved funds around.
EQ push out takes 1 day to show on other bank.
EQ pull in takes 5 business days to be available, but will already be out of the other bank around 2 days.

These are externally linked banks.


Thanks for the information good to know,need to moved the fund out by May interest rates sucks,looking for next bank for better rates, any suggestions guys ?
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Jun 3, 2006
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SamDurham wrote: Is EQ bank safe to save funds? Never dealt with it.
Deposits to EQ are CDIC protected.

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