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Guaranteed Investment Certificates (GICs) 101 with Mahima Poddar from EQ Bank
Manage episode 361165863 series 2786045
Next to our volatile markets, guaranteed income certificates (GICs) have been one of the most discussed topics over the last year.
In this episode I sit down with Mahima Poddar of EQ Bank to dissect these in a bit more detail.
Mahima Poddar is the Senior Vice-President & Group Head of Personal Banking at Equitable Bank (EQ), which has now grown to $8 Billion in deposits and over 300K customers.
Discussion Points:
- what is a GIC? (6:15)
- payment frequency (6:36)
- reinvesting interest (7:11)
- what influences GIC rates? (7:45)
- registered vs non-registered rates (10:03)
- GIC rates at big banks vs EQ & other smaller banks (10:30)
- redeemable/cashable GICs: how much of your cash can you remove? (11:40)
- what if you need to pull out $$ from a non-redeemable GIC? (12:20)
- GIC protection through CDIC (13:06)
- understanding a laddered GIC approach (14:33)
- market-linked GICs (16:31)
- the pain points EQ bank is trying to solve & plans for business banking (19:30)
Reach out anytime: beyondmdpodcast@gmail.com.
Mahima's LinkedIn:
https://www.linkedin.com/in/mahima-poddar-73b1b430/
Yatin's Resources:
https://www.youtube.com/watch?v=LhaXNoURidA
https://www.youtube.com/watch?v=gno63208wsY&t=8s
https://www.youtube.com/watch?v=CwviUABYzXM
beyondmdpodcast.com
https://www.linkedin.com/in/yatin-chadha-29074b109/
https://www.instagram.com/beyond.md/
85 episodios
Manage episode 361165863 series 2786045
Next to our volatile markets, guaranteed income certificates (GICs) have been one of the most discussed topics over the last year.
In this episode I sit down with Mahima Poddar of EQ Bank to dissect these in a bit more detail.
Mahima Poddar is the Senior Vice-President & Group Head of Personal Banking at Equitable Bank (EQ), which has now grown to $8 Billion in deposits and over 300K customers.
Discussion Points:
- what is a GIC? (6:15)
- payment frequency (6:36)
- reinvesting interest (7:11)
- what influences GIC rates? (7:45)
- registered vs non-registered rates (10:03)
- GIC rates at big banks vs EQ & other smaller banks (10:30)
- redeemable/cashable GICs: how much of your cash can you remove? (11:40)
- what if you need to pull out $$ from a non-redeemable GIC? (12:20)
- GIC protection through CDIC (13:06)
- understanding a laddered GIC approach (14:33)
- market-linked GICs (16:31)
- the pain points EQ bank is trying to solve & plans for business banking (19:30)
Reach out anytime: beyondmdpodcast@gmail.com.
Mahima's LinkedIn:
https://www.linkedin.com/in/mahima-poddar-73b1b430/
Yatin's Resources:
https://www.youtube.com/watch?v=LhaXNoURidA
https://www.youtube.com/watch?v=gno63208wsY&t=8s
https://www.youtube.com/watch?v=CwviUABYzXM
beyondmdpodcast.com
https://www.linkedin.com/in/yatin-chadha-29074b109/
https://www.instagram.com/beyond.md/
85 episodios
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