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Benefits of a Raise the Rate GIC


No locked-in rates

Invest long-term without locking into a rate! Start with a competitive rate, and if our rates go up, you can “rate match” and increase your return.


Guaranteed returns

Grow your money, plus get peace of mind - your initial investment and returns are guaranteed.



Everything you need to know


Further reading

Manage changing markets with a GIC

Learn more about how a GIC like Raise the Rate can help navigate uncertain markets, like the ones caused by COVID-19.

GICs: What they are, how they work, and why you need one

Not sure you really understand how GICs work? Check out this great guide.

Frequently asked questions


Rates

3-year Raise the Rate GIC: 1.60%
5-year Raise the Rate GIC: 1.85%

 

Minimum investment

$100

 

Accessing your cash

  • This GIC is non-redeemable

  • Penalties apply if you access your money early


  • All rates are annual rates of interest.

  • Interest is calculated/compounded annually and paid annually and at maturity.

  • If you increase your rate, the annual interest paid will be pro-rated based on the two rates used for that year and the length of the time each rate is held. The overall yield will be a combination of the rates.

  • You earn more interest the longer you keep your money invested.

 

Want to better understand interest rates? Check out:

How interest rates work and how they affect you


Open a Raise the Rate GIC


You can open this GIC on its own or add it to your TFSA or RRSP. Plus, choose between a 3- or 5-year term.

Already a Member?

 

Not a member yet? Choose your GIC

 

3-year term

5-year term

GIC

Open GIC

Open GIC

TFSA GIC

Open GIC

Open GIC

RRSP GIC

Open GIC

Open GIC


Looking for a short-term investment?


1-Year Cashable GIC

Get fast, flexible savings at a competitive rate!

   

Available for non-registered and TFSA plans


Frequently asked questions


  • How do I rate match my rate?

    You can match your rate against select GICs with the same term.

    For the 3-Year Raise the Rate GIC you can match against the rate for:

    • 3-Year Raise the Rate GIC

    • 3-Year Fixed-Rate GIC

    • 3-Year Escalator GIC (effective yield to maturity) for registered products only

     
    For the 5-Year Raise the Rate GIC you can match against the rate for:

    • 5-Year Raise the Rate GIC

    • 5-Year Fixed-Rate GIC

    • 5-Year Escalator GIC (effective yield to maturity) for registered products only

  • How do I raise my rate?

    You can request a rate change three different ways:

    • Visit any Meridian branch location and request a rate change

    • Call the Contact Centre and request a rate change

    • Request a rate change through Online Banking or our Mobile App