While I'm not optimistic about the short and medium term outlook about the global financial situation, Japan was dealing with years of deflation and their central bank bought literally everything.IslandDeal wrote: ↑ I think we are going to hit ZERO interest rates.
For fun, look at HSBC japan rates. (They started printing yens like it was monopoly money before Canada did.)
https://www.hsbc.co.jp/en-gb/product-services
https://www.hsbc.co.jp/-/media/cl-japan ... e-2020.pdf
Zero Rates.jpg
Oaken Financial
5 year GIC - 2.00% guaranteed interest
- SCORE
- Reason
Score breakdown ×
- Upvote
-
0%
- Not a good price
-
0%
- Bad product/service
-
0%
- Poor merchant reputation
-
0%
- Unable to get the deal
-
0%
- Other (downvote)
-
0%
- TouchMyBox
- Sr. Member
- Dec 5, 2016
- 721 posts
- 1117 upvotes
- IslandDeal [OP]
- Deal Addict
- Aug 13, 2020
- 1573 posts
- 6941 upvotes
- Vancouver Island
You bring up a valid point Ovaltene !
And note that if you are doing this outside of a tax sheltered RRSP/TFSA, with a risk-free GIC you could pay Double the income tax as there is no 50% Capital Gains exemption.
- YLSF
- Deal Guru
- May 23, 2003
- 10229 posts
- 1652 upvotes
- GTA
I used to do ladders of multiple GICs with different terms but with the rates what they are now it isn't worth it. If you have extra cash you need access to it is better to play the HISA game and move around for different promos or use EQ bank, Motive, CTFS, etc for 1.5% rates.
I do use Oaken for a business account though because it is hard to get those HISA rates for business accounts and last I checked Oaken's savings account rate was 1.4%
I do use Oaken for a business account though because it is hard to get those HISA rates for business accounts and last I checked Oaken's savings account rate was 1.4%