Personal Finance

Hubert 1-yr Quarterly Term 4.85% avg, Savings account 3.40%, Updated Feb 2, 2023

  • Last Updated:
  • Feb 2nd, 2023 10:43 pm
[OP]
Sr. Member
Jul 25, 2010
722 posts
901 upvotes
Vancouver

Hubert 1-yr Quarterly Term 4.85% avg, Savings account 3.40%, Updated Feb 2, 2023

Feb 2, 2023
The first three months: 4.70%.
Months four to six: 4.80%.
Months seven to nine: 4.90%.
The last three months: 5.00%.
Avg 4.85%

Feb 2, 2023
High-interest saving rate up to 3.40%

https://www.happysavings.ca/products/te ... ear-terms/

https://www.happysavings.ca/rates/

For reference, you may also correlate the rate changes with:

Some previous rates:

Dec 19, 2022
The first three months: 4.45%.
Months four to six: 4.55%.
Months seven to nine: 4.65%.
The last three months: 4.75%.
Avg 4.6%

Dec 19, 2022
High-interest saving rate up to 3.25%

Nov 4, 2022
The first three months: 4.35%.
Months four to six: 4.45%.
Months seven to nine: 4.55%.
The last three months: 4.65%.
Avg 4.5%

Nov 4, 2022
High-interest saving rate up to 3%

Sept 19, 2022
The first three months: 4.25%.
Months four to six: 4.35%.
Months seven to nine: 4.45%.
The last three months: 4.55%.
Avg 4.4%

Sept 19, 2022
High-interest saving rate up to 2.85%

July 27, 2022
The first three months: 4.1%.
Months four to six: 4.2%.
Months seven to nine: 4.3%.
The last three months: 4.4%.
Avg 4.25%

July 15, 2022
High-interest saving rate up to 2.60%

July 15, 2022
The first three months: 3.95%.
Months four to six: 4.05%.
Months seven to nine: 4.15%.
The last three months: 4.25%.
Avg 4.10%

July 6, 2022
The first three months: 3.60%.
Months four to six: 3.70%.
Months seven to nine: 3.80%.
The last three months: 3.90%.
Avg 3.75%

June 9, 2022
The first three months: 3.10%.
Months four to six: 3.20%.
Months seven to nine: 3.30%.
The last three months: 3.40%.
Avg 3.25%

June 9, 2022
High-interest saving rate up to 2.05%

May 26, 2022
The first three months: 3.05%.
Months four to six: 3.15%.
Months seven to nine: 3.25%.
The last three months: 3.35%.
Avg 3.20%

May 13, 2022
The first three months: 2.50%.
Months four to six: 2.60%.
Months seven to nine: 2.70%.
The last three months: 2.80%.
Avg 2.65%

April 22, 2022
High-interest saving rate up to 1.70%

April 8, 2022
The first three months: 2.10%.
Months four to six: 2.20%.
Months seven to nine: 2.30%.
The last three months: 2.40%.
Avg 2.25%

April 18, 2022
High-interest saving rate up to 1.50%

April 1, 2022
The first three months: 1.85%.
Months four to six: 1.95%.
Months seven to nine: 2.05%.
The last three months: 2.15%.
Avg 2.00%

March 8, 2022
The first three months: 1.65%.
Months four to six: 1.75%.
Months seven to nine: 1.85%.
The last three months: 1.95%.
Avg 1.80%

March 8, 2022
High-interest saving rate up to 1.40%

Dec 15, 2021
The first three months: 1.85%.
Months four to six: 1.95%.
Months seven to nine: 2.05%.
The last three months: 2.15%.
Avg 2.0%

Dec 15, 2021
High-interest saving rate up to 1.25%

Nov 18, 2021
The first three months: 1.35%.
Months four to six: 1.45%.
Months seven to nine: 1.55%.
The last three months: 1.65%.
Avg 1.5%

Oct 29, 2020
The first three months: 1.25%.
Months four to six: 1.35%.
Months seven to nine: 1.45%.
The last three months: 1.55%.
Avg 1.4%

Oct 29, 2020
High-interest saving rate down to 1.3%

Oct 8, 2020
The first three months: 1.35%.
Months four to six: 1.45%.
Months seven to nine: 1.55%.
The last three months: 1.65%.
Avg 1.5%

Oct 8, 2020
High-interest saving rate down to 1.4%

Sept 4, 2020
The first three months: 1.45%.
Months four to six: 1.55%.
Months seven to nine: 1.65%.
The last three months: 1.75%.
Avg 1.6%

Aug 27, 2020
High-interest saving rate down to 1.5%

Aug 6, 2020
The first three months: 1.55%.
Months four to six: 1.65%.
Months seven to nine: 1.75%.
The last three months: 1.85%.
Avg 1.7%

High-interest saving rate down to 1.6%

July 23, 2020
The first three months: 1.7%.
Months four to six: 1.8%.
Months seven to nine: 1.9%.
The last three months: 2.0%.
Avg 1.85%

High-interest saving rate down to 1.75%

July 9, 2020
The first three months: 1.75%.
Months four to six: 1.85%.
Months seven to nine: 1.95%.
The last three months: 2.05%.
Avg 1.90%

June 11, 2020
The first three months: 1.80%.
Months four to six: 1.90%.
Months seven to nine: 2.00%.
The last three months: 2.10%.
Avg 1.95%

High-interest saving rate down to 1.80%

June 2, 2020
The first three months: 1.85%.
Months four to six: 1.95%.
Months seven to nine: 2.05%.
The last three months: 2.15%.
Avg 2.0%

High-interest saving rate down to 1.90%

May 21, 2020
The first three months: 1.95%.
Months four to six: 2.05%.
Months seven to nine: 2.15%.
The last three months: 2.25%.
Avg 2.1%

May 14, 2020
The first three months: 2.00%.
Months four to six: 2.10%.
Months seven to nine: 2.20%.
The last three months: 2.30%.
Avg 2.15%

May 9, 2020
The first three months: 2.05%.
Months four to six: 2.15%.
Months seven to nine: 2.25%.
The last three months: 2.35%.
Avg 2.2%

April 30, 2020
The first three months: 2.15%.
Months four to six: 2.25%.
Months seven to nine: 2.35%.
The last three months: 2.45%.
Avg 2.3%

March 27, 2020
The first three months: 2.25%.
Months four to six: 2.35%.
Months seven to nine: 2.45%.
The last three months: 2.55%.
Avg 2.4%

March 19, 2020
The first three months: 2.10%.
Months four to six: 2.15%.
Months seven to nine: 2.20%.
The last three months: 2.30%.
Avg 2.2% (2.1875)

High-interest saving rate down to 2.00%
USD savings down to 0.25%

March 13, 2020
The first three months: 2.35%.
Months four to six: 2.40%.
Months seven to nine: 2.45%.
The last three months: 2.55%.
Avg 2.4% (2.4375)

March 2, 2020
The first three months: 2.45%.
Months four to six: 2.55%.
Months seven to nine: 2.65%.
The last three months: 2.75%.
Avg 2.6%

Jan 1, 2020
The first three months: 2.35%.
Months four to six: 2.45%.
Months seven to nine: 2.55%.
The last three months: 2.65%.
Avg 2.5%

Oct 28, 2019
The first three months: 2.25%.
Months four to six: 2.35%.
Months seven to nine: 2.45%.
The last three months: 2.55%.
Avg 2.4%

Aug 30, 2019
The first three months: 2.35%.
Months four to six: 2.45%.
Months seven to nine: 2.55%.
The last three months: 2.65%.
Avg 2.5%

June 5, 2019
The first three months: 2.45%.
Months four to six: 2.55%.
Months seven to nine: 2.65%.
The last three months: 2.75%.
Avg 2.6%

Their High-interest saving rate went down to 2.25%

April 18, 2019
The first three months: 2.70%.
Months four to six: 2.80%.
Months seven to nine: 2.90%.
The last three months: 3.00%.
Avg 2.85%

Their High-interest saving rate went down to 2.35%

April 1, 2019
The first three months: 2.85%.
Months four to six: 2.95%.
Months seven to nine: 3.05%.
The last three months: 3.15%.
Avg 3.0%

Dec 23, 2018
The first three months: 2.95%.
Months four to six: 3.05%.
Months seven to nine: 3.15%.
The last three months: 3.25%.
Avg 3.1%

Dec 23, 2018
Their High-interest saving rate went back up to 2.50%

Dec 14, 2018
Their High-interest saving rate is now 2.3% for regular savings, still 2.5% for TFSA, RRSP, RRIF

Nov 2, 2018
The first three months: 2.80%.
Months four to six: 2.90%.
Months seven to nine: 3.00%.
The last three months: 3.10%.
Avg 2.95%

Nov 2, 2018
Their High-interest saving rate is also now 2.50%

Aug 2, 2018
The first three months: 2.70%.
Months four to six: 2.80%.
Months seven to nine: 2.90%.
The last three months: 3.00%.
Avg 2.85%
High-interest savings: 2.35%

Feb 13, 2018
High-interest savings: 2.10%

June 26, 2018
The first three months: 2.40%.
Months four to six: 2.50%.
Months seven to nine: 2.60%.
The last three months: 2.70%.
Avg 2.55%

Jan 19, 2018
The first three months: 2.30%.
Months four to six: 2.40%.
Months seven to nine: 2.50%.
The last three months: 2.60%.
Avg 2.45%
High-interest savings: 2.00%

Nov 29, 2017
The first three months: 2.10%.
Months four to six: 2.20%.
Months seven to nine: 2.30%.
The last three months: 2.40%.
Avg 2.25%

Two-year term – 2.00%
Three-year term – 2.05%
Four-year term – 2.15%
Five-year term – 2.40%
Avg: 2.15%

Nov 14, 2016
Q1: 1.90%
Q2: 2.00%
Q3: 2.10%
Q4: 2.20%
Avg: 2.05%


See https://www.happysavings.ca/rates/ for general rate info. Their USD account is 0.75% now which is one of the highest in Canada.
Last edited by DrAcX on Feb 2nd, 2023 10:42 pm, edited 52 times in total.
Thread Summary
Effective, November 4, 2022

New daily savings rate: 3.00%

New term rates
1-year term - 4.50% average

Quarterly breakdown of our 1-year term:

The first three months: 4.35%

Months four to six: 4.45%

Months seven to nine: 4.55%

The last three months:4.65%
136 replies
Deal Addict
Jul 3, 2017
3859 posts
2807 upvotes
While in theory you can end your current term investment and start a new one at the new higher rate at the end of any quarter, you will note that the 0.1% rate increase is carefully chosen so that you cannot benefit by doing that because of the graduated increasing rate.
Deal Addict
Oct 4, 2009
3328 posts
2544 upvotes
Montreal
DrAcX wrote: Their USD account is 0.75% now which is one of the highest in Canada.
Earlier today I noticed the TD USD investment savings account(TDB8152)is now paying 1.2%, a .25% increase from its previous rate. Not sure if higher HISA rates exist, don’t know of a good USD HISA comparo. Anyone?
[OP]
Sr. Member
Jul 25, 2010
722 posts
901 upvotes
Vancouver
S5 wrote: Earlier today I noticed the TD USD investment savings account(TDB8152)is now paying 1.2%, a .25% increase from its previous rate. Not sure if higher HISA rates exist, don’t know of a good USD HISA comparo. Anyone?
Interesting, what is the difference between this investment savings account and a normal USD savings account other than the much higher interest? It sounds like a mutual fund yet seems to offer guaranteed income. If so is there any reason you'd want a normal savings account instead?

Not sure about a comparison of USD HISA but Interactive Brokers pays interest for parking cash, currently 1.41%, bound to benchmark - 0.5%, so is very appealing given the US interest rate is scheduled to continue jumping up several times in the short term.
https://www.interactivebrokers.com/en/index.php?f=1595
Deal Addict
Oct 4, 2009
3328 posts
2544 upvotes
Montreal
DrAcX wrote: Interesting, what is the difference between this investment savings account and a normal USD savings account other than the much higher interest? It sounds like a mutual fund yet seems to offer guaranteed income. If so is there any reason you'd want a normal savings account instead?
Only difference I can think of is 1 business day settlement. It uses the MF framework but is a HISA, the CAD version is CDIC insured.

There are lots of these HISA brokerage accounts, I only noticed the rate increase on this one because I own it at TDDI. Most big bank brokers these days only allow their own bank’s HISA to be purchased in their accounts. Not exactly sure how or why that is allowed.
Deal Fanatic
Oct 1, 2004
6651 posts
993 upvotes
GTA
S5 wrote: Only difference I can think of is 1 business day settlement. It uses the MF framework but is a HISA, the CAD version is CDIC insured.

There are lots of these HISA brokerage accounts, I only noticed the rate increase on this one because I own it at TDDI. Most big bank brokers these days only allow their own bank’s HISA to be purchased in their accounts. Not exactly sure how or why that is allowed.
Why is IB paying more interest 1.269% for US balance vs only .43% for CDN balance? Vs other brokerages all pay more interest for CDn balance?
Deal Addict
Oct 4, 2009
3328 posts
2544 upvotes
Montreal
greg123 wrote: Why is IB paying more interest 1.269% for US balance vs only .43% for CDN balance? Vs other brokerages all pay more interest for CDn balance?
Which brokerages and products are you referring to that pay more interest for CAD balance?

US interest rates across the board are higher than CAD ones so it makes sense for IB to pay(and charge) more for USD than CAD.
[OP]
Sr. Member
Jul 25, 2010
722 posts
901 upvotes
Vancouver
Updated OP with the new and pretty significant increase of 0.3% today
Deal Addict
Jul 3, 2017
3859 posts
2807 upvotes
DrAcX wrote: Updated OP with the new and pretty significant increase of 0.3% today
This latest increase might actually be enough to terminate existing 1-year term and start a new one. I'll have to do a calculation!
[OP]
Sr. Member
Jul 25, 2010
722 posts
901 upvotes
Vancouver
Exp315 wrote: This latest increase might actually be enough to terminate existing 1-year term and start a new one. I'll have to do a calculation!
Yeah they've been increasing so frequently that I've been redeeming and re-creating at the end of each quarter of my term.

If you have the previous rate starting at 2.4%, I think it's only worth terminating early if you are about 10 days or less into your current term. Otherwise you're better off waiting until the end of your current quarter before switching.
Newbie
Mar 31, 2013
90 posts
23 upvotes
Can you terminate a one year term yourself or do you need to request them to do it? Is it possible to terminate and create a new term during the weekend?

Thanks!
Deal Addict
Jul 3, 2017
3859 posts
2807 upvotes
aperturetech wrote: Can you terminate a one year term yourself or do you need to request them to do it? Is it possible to terminate and create a new term during the weekend?

Thanks!
I think you have to call in to start or stop term deposits. At least I've always called in to be sure I'm doing it right. Hubert are really easy to contact and always helpful. No point in doing it on the weekend since it won't take effect until the next business day anyway (and 1 day isn't going to make any significant difference in any case).
Newbie
Mar 31, 2013
90 posts
23 upvotes
Exp315 wrote: I think you have to call in to start or stop term deposits. At least I've always called in to be sure I'm doing it right. Hubert are really easy to contact and always helpful. No point in doing it on the weekend since it won't take effect until the next business day anyway (and 1 day isn't going to make any significant difference in any case).
Thanks for the info ! I was able to start a term by myself but you're right that you have to call to terminate a term since I don't see the option to end a term on their website.
[OP]
Sr. Member
Jul 25, 2010
722 posts
901 upvotes
Vancouver
aperturetech wrote: Can you terminate a one year term yourself or do you need to request them to do it? Is it possible to terminate and create a new term during the weekend?

Thanks!
You can also terminate through online chat, which I think may even be open Sat or Sun on the weekend as I was able to talk on the weekend in the past, just don't remember which day. In any case, worth trying; I always found online chat being the easiest.
Deal Addict
Jul 3, 2017
3859 posts
2807 upvotes
DrAcX wrote: If you have the previous rate starting at 2.4%, I think it's only worth terminating early if you are about 10 days or less into your current term. Otherwise you're better off waiting until the end of your current quarter before switching.
Yeah, I finally had time to do the calculation, and you're right on. With the current rate difference, if it's more than about 2 weeks into your term quarter, you are better off to set a reminder and switch at the end of term quarter.
Deal Addict
User avatar
Aug 3, 2009
2212 posts
659 upvotes
Nova Scotia
Don't forget any money in the account. I was not impressed when they took $50 without so much as a call or letter. I only found out when they wrote to say my account was going to be closed for inactivity. They wouldn't budge to refund money. Just fyi to peoe who forget a few bucks in accounts from time to time.
Deal Fanatic
Oct 1, 2004
6651 posts
993 upvotes
GTA
Shouldn't they refund you the balance when your account is closed?
[OP]
Sr. Member
Jul 25, 2010
722 posts
901 upvotes
Vancouver
greg123 wrote: Shouldn't they refund you the balance when your account is closed?
This is an inactivity fee applied just like any other fee at banks. Don't see any reason it would all get refunded just b/c you decide to close the account.

From their FAQ:
$25 fee for accounts that are inactive for six months with a balance under $1,000.
If you don’t process a transaction semi-annually we’ll mail you a letter notifying you your account has become inactive and will request you to log into your account and process a transaction.
Seems reasonable since it includes a 6 month grace period and a pretty low balance to waive fees, except they probably should use email rather than mail since mail can easily get misplaced especially for people who move around or who do everything electronically and don't bother with paper mail.
Jr. Member
Oct 21, 2018
131 posts
41 upvotes
1 year quarterly seems too good to be true. Prolly put all my money in it as I need liquidity.

Can't find a list of fees for Hubert.

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