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  1. W

    Where can I get over 5% on a savings account or GIC, now that BoC raised rates again?

    @pavanpola That is fair -- in line with the big banks likely, don't want to offer the consumers an alternative that is "too good"
  2. W

    Where can I get over 5% on a savings account or GIC, now that BoC raised rates again?

    @pavanpola Thanks I found some other articles online too. Disappointing as it was almost too good to be true. I hope this doesn’t happen.
  3. W

    Where can I get over 5% on a savings account or GIC, now that BoC raised rates again?

    @pavanpola Do you (or anyone else for that matter) have any further info / sources about this situation in order to explain better, etc. thanks
  4. W

    Where can I get over 5% on a savings account or GIC, now that BoC raised rates again?

    @ben888 The pay out was today/yesterday you will receive it very soon keep an eye out
  5. W

    Where can I get over 5% on a savings account or GIC, now that BoC raised rates again?

    @marymma Yes that’s correct again was I trying to make a simple example but forgot to divide
  6. W

    Where can I get over 5% on a savings account or GIC, now that BoC raised rates again?

    @prophetictimes Everyone owner gets a payout once a month no matter what, that's how it works!
  7. W

    Where can I get over 5% on a savings account or GIC, now that BoC raised rates again?

    @prophetictimes I don't know if I fully understand what you are asking. But the value is paid out in the monthly interest. If you buy $1000, at the end of the month, its worth $1050.00 the shares reset to $50 per unit, the value goes to $1000 (so you technically "lose $50" but it is essentially...
  8. W

    Where can I get over 5% on a savings account or GIC, now that BoC raised rates again?

    @pastorvjoshua You don't need to wait, you can buy any time. You can also sell any time. It's like a GIC but you are never locked in, its partially or fully liquid. If you buy part way you will get the pay-out of the interest when it resets.
  9. W

    Where can I get over 5% on a savings account or GIC, now that BoC raised rates again?

    @pastorvjoshua Its paid once a month, calculated on the last day, then paid out about a week or so later. I am also fairly new to it, so no worries. Here is the official page for it. The pay out info is under "distributions" https://horizonsetfs.com/ETF/cash/ The value goes up over the...
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