A 5-year Escalator GIC suits the long-term RRSP, RRIF or TFSA investor as it provides the flexibility to transfer to a 1-year term or longer on each anniversary date, or 30 days thereafter.
Smart and flexible with escalating interest year-over-year, Escalator GICs are a great way to manage your risk because the principal is guaranteed and your rate of return is already known.