Trying to save up a down payment so can't afford to lose the principle and want to minimize risk. Best rate banks are offering is 1.2% for no term deposits. Any recommendations on a better rate?
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Trying to save up a down payment so can't afford to lose the principle and want to minimize risk. Best rate banks are offering is 1.2% for no term deposits. Any recommendations on a better rate?
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Last edited by Sugarphreak; 07-16-2019 at 02:51 PM.
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Canadian Tire offers 1.5%
owned by an '08 n00b! LOL
PC Financial is offering 2.6% for Apr 15-Aug 15 period.
Originally posted by GTS Jeff
You know those bored stay at home moms who's entire lives revolve around driving their kids to soccer, various cleaning accessories, and worrying about neighbourhood rapists? The kind of people that watch the View and go "uh huh..." Those unfulfilled people who try to fill the void in their empty lives by writing whiny letters to the editor complaining about shit that no one really cares about?
Well imagine if instead of writing that letter to the editor, she just posts on a car forum for car enthusiasts. That's Kritafo.
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If you think the purchase is more than 15months away, term GIC is 1.7% to 1.8%.
But since I assume this is outside of a tax free portfolio, interest is subjected to taxes, 1/2 a percent point isn't that big of a deal when you lose the flexibility going with term.
Last edited by Xtrema; 05-03-2013 at 12:01 PM.
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ING is 2.5% between now and June 30 before it drops down back to 1.35.
On another note, you and I can both make $25 for you opening an account there =)
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Most GIC's require a lump sum amount to get started and don't allow monthly contributions to it. Assuming OP is saving a set amount monthly a savings account is a better option than a GIC account unless of course he has a lump sum now to invest and has the time horizon.Originally posted by Xtrema
If you think the purchase is more than 15months away, term GIC is 1.7% to 1.8%.
But since I assume this is outside of a tax free portfolio, interest is subjected to taxes, 1/2 a percent point isn't that big of a deal when you lose the flexibility going with term.
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Depending on your bank, "special offer" type GICs can be a great way to go. When I was banking a downpayment I would purchase a $500 (this was the minimum required) 100-Day GIC each pay period, worked great.Originally posted by skandalouz_08
Most GIC's require a lump sum amount to get started and don't allow monthly contributions to it. Assuming OP is saving a set amount monthly a savings account is a better option than a GIC account unless of course he has a lump sum now to invest and has the time horizon.
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Just going from the ING website, any GIC's less than 1 year have a rate that is less than the savings account they offer. That's why I said a savings account is probably a better option. Better rate and not locked in.Originally posted by BrknFngrs
Depending on your bank, "special offer" type GICs can be a great way to go. When I was banking a downpayment I would purchase a $500 (this was the minimum required) 100-Day GIC each pay period, worked great.
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be warned with ING and paypal - ING will CLOSE your account sometimes using paypal. and Aly Bank does not allow paypal.
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Take 30-39% off all the above return. GICs investment return are fully taxed on your marginal tax rates, my 1.5% return is cut to 61%, so roughly around 1% after CRA take their CUT.
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After Ally was bought out by RBC, I think the next best one is Canadian Direct Financial, 1.90%
https://www.canadiandirectfinancial.com/Personal/
Originally posted by max_boost
Hey baller, any problem money can solve is no problem at all. Don't sweat it.
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That's what I'm trying to say, 1.2 vs 1.9 is effectively a 0.5% difference after CRA is done with with you.Originally posted by Frankie88
Take 30-39% off all the above return. GICs investment return are fully taxed on your marginal tax rates, my 1.5% return is cut to 61%, so roughly around 1% after CRA take their CUT.
or $50/year on $10K.
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Do you guys really invest money at these rates?
Geez....PM me if you have more than 10K, and I will give you 4%-8%, secured by Alberta real estate at <85% loan to value or less.
Same with RRSP's
Last edited by BoostinAround; 02-04-2017 at 04:36 AM.
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http://blogs.reuters.com/felix-salmo...yield-edition/
Pssshhh.. Greek 2 year bond at 350% was the bomb, that is until of course - they defaulted and you got zero back.
Currently I think a reasonable percentage is the German 2-year bond at -0.03%. Germany has a very strong economy of the Eurozone, and will absolutely crush the rest of Europe in this economic war.
BMO seems to be doing higher risk deposits, much like South Korean banks. For about 3.5% you can risk it all on the chance that the bank will not go insolvent before you can get your rate of return.
http://www.bloomberg.com/news/2012-0...ngs-banks.html
Her savings would be protected by state-run Korea Deposit Insurance Corp., which guarantees as much as 50 million won at both savings banks and larger lenders. Still, the additional 40 million won bond investment she made on behalf of her mother would be wiped out.
“I wish it were a bad dream,” said Je, pulling her trimmed black hair behind her ear while attending a KDIC meeting on claiming restitution for the savings later that week. “I always wondered what kind of stupid people put precious money into messy banks. Now, I am one of them.”
Je recalls getting a text message in September 2010 from Korea Savings pitching five-year notes yielding 8 percent annually. It was easy, the bank promised. She invested her mother’s savings, four times as much as her own, in bonds that aren’t protected by deposit insurance.
“How can I tell my 80-year-old mother I’ve lost the funds she lives on?” she said. “I was deluded by a couple of percentage points of interest rate. Now I can see it was only a trap.”
Oh, the pain of not doing homework on what the world situation is.
Cocoa $11,000 per tonne.
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Last edited by Sugarphreak; 07-16-2019 at 02:59 PM.
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how is that effected if the real-estate market crashes?Originally posted by BoostinAround
Do you guys really invest money at these shitty rates?
Geez....PM me if you have more than 10K, and I will give you 4%-8%, secured by Alberta real estate at <85% loan to value or less.
Same with RRSP's
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And how liquid is this investment? I believe the point of saving to buy a home is to have access to your money when you're ready to buy and not have it tied up in real estate.Originally posted by BoostinAround
Do you guys really invest money at these shitty rates?
Geez....PM me if you have more than 10K, and I will give you 4%-8%, secured by Alberta real estate at <85% loan to value or less.
Same with RRSP's
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Last edited by Sugarphreak; 07-16-2019 at 02:59 PM.
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Originally posted by Sugarphreak
Is this a promotional rate or something that will drop in a few months?But that's not bad for TFSA rates.*All rates quoted are annual interest rates and are subject to change without notice.
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