This means you cannot purchase travel insurance for a hurricane that has been named and is about to affect your travel plans. Some plans that offer coverage for natural disasters include a waiting period (usually 15-21 days), which begins at the planâs effective date of coverage.
Prime Rate. The prime rate, also known as the prime lending rate, is the annual interest rate Canadaâs major banks and financial institutions use to set interest rates for variable loans and lines of credit, including variable-rate mortgages. The prime rate in Canada is currently 2.95%.
If the prime rate is at 3.25% and a bank customer is making a Variable Rate deposit of $100,000 at two percentage points below the prime rate, this would mean that they would receive an effective interest rate of 1.25% on the deposit while the prime rate remained at 3.25%.