6% 1yr fixed GIC at TD

[amandalynn]

@jcbii What? How does having money automatically equate to financial literacy?

 

[divanir]

@amandalynn ≠

 

[resjudicata]

@amandalynn Haha they forgot that /

 

[reborndestiny]

@amandalynn It doesn't, but it should.

 

[marry]

@davetownsend How does one negotiate? Call the bank’s customer service number? Meet a financial advisor ?

 

[birdyluv0]

@marry My dad negotiates every quarter, always gets a higher rate with tangerine. He even negotiates the savings account rate and hasn’t paid a bank fee at RBC since the 90s.

 

[marry]

@birdyluv0 Again, does he call the bank? Does he go and ask a teller? How does he mechanically do it?

 

[birdyluv0]

@marry He calls the bank directly.

 

[bren_dm]

@birdyluv0 You mean branch or phone banking.

 

[lembal]

@davetownsend Not surprising...I also got 6% for 1 year non cashable at TD. That was 2 weeks ago.

 

[joelburntout]

@reborn8265 GIC rates are very negotiable. Just gotta ask.

I know at RBC their financial advisors can call a 1-800 number for a quick increase.

Larger increases have to be authorized I believe.

Went through this last year.

 

[katherj12]

@joelburntout I saw 6% advertised on a sandwich board by a credit union this week

 

[nan13]

@reborn8265 They often give premium rates to "VIP" clients, or 90% of their customers to make you feel special. The posted rate on their website is what the last 10% can receive, but likely aren't in a position to buy a GIC anyway. Im being offered about 5.5% through RBC so this deal with TD is good.

 

[quinita]

@nan13 With eq bank be able to match that 6% or are they fixed to what their website says?

 

[resjudicata]

@quinita They are an online only bank, they have customer service for issues but no internal sales reps. What you see is what you get.

 

[katyc]

@nan13 I went into my local RBC yesterday and got 5.7%. Majority of my banking is with RBC too so surprised OP got 6%.

 

[amandalynn]

@katyc How much total assets do you have with them? Of that portion, how much cash is available for the GIC?

 

[katyc]

@amandalynn GIC itself was 20k. Withdrawing everything would give me ~80k.

 

[rivergal319]

@katyc i had 60+k in GIC and asked but the HSBC rep said they couldn't give me something more than what website said (which is like 4.7%). Maybe because mine is redeemable..

 

[bren_dm]

@rivergal319 You get 4.7% for redeemable GIC ?