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Benefits of a Raise the Rate GIC

No locked-in rates

An innovative way to invest long-term without locking into a set rate. Get a competitive rate to start with, and if rates go up, you have the power to “rate match” and increase your return.


Guaranteed returns

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


Start small

You don’t need lots of money to get started. The minimum deposit is only $100.


How it works

You get a competitive rate to start with:
3-year Raise the Rate GIC: 1.90%
5-year Raise the Rate GIC: 2.05%

Plus, you can increase your rate. Let’s say you buy our 3-year Raise the Rate GIC, and then a few months later you see that interest rates for similar Meridian GICs have gone up. All you have to do is request a rate change online, in a branch, or by calling our Contact Centre.



This is a great option for you if:

  • You want to invest long-term without locking into one rate and missing out on something better if rates go up

  • You like flexibility and security - you can raise your rate when you see a better one, but when rates start going down you can keep earning the rate you've got

  • You feel confident that you won't need access to your money before the term is up

  • You have a minimum of $100 to invest



Open Raise the Rate GIC now

Current Meridian Members can open the Raise the Rate GIC via Online Banking, by visiting a local branch or calling our Contact Centre.

3-year Raise the Rate GIC 

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5-year Raise the Rate GIC 

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Rates 

Initial interest rate for 3-year term: 1.90%
Rate match against similar Meridian GICs to increase your rate once over the course of your term (See FAQ "How do I rate match my rate?")

Initial interest rate for 5-year term: 2.05%
Rate match against similar Meridian GICs to increase your rate twice over the course of your term (See FAQ "How do I rate match my rate?")
 

Minimum investment

$100 
 

Accessing your cash

  • This GIC is non-redeemable
  • Penalties apply if you access your money early

Interest

  • 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.

 

​Explore all rates


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