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Details
Type
- Registered or non-registered, non-redeemable
Minimum deposit
- $500
- $100 for youth and student members
Terms available
- 3 or 5 year
- The 5-Year Escaltor is transferable to a 1 year term or longer on each anniversary date, or 30 days thereafter. At all other times, this product is non-redeemable.
Access to funds
- With the 3-year Rate Escalator GIC, you can access your money on each anniversary date and 30 days thereafter without penalty.
Interest
- Your interest is guaranteed to increase for each of the 3 or 5 years of your investment's life.
- Interest is compounded annually to increase the return on your investment.
Insurance
- Deposits insured up to $100,000 by the Deposit Insurance Corporation of Ontario. For further information on deposit insurance coverage, please call DICO at 1-800-268-6653 or www.dico.com.
- At Meridian Credit Union, registered savings plans are fully insured with no limit on the maximum amount (RRSP, RRIF, LIF, RESP, TFSA)
Other
- The 5-year Rate Escalator GIC can be converted to another non-redeemable long-term product on each anniversary date without penalty and is only available as a registered investment.
