Raise the Rate GIC for Business
How it works
You get a competitive rate to start with:
3-year Raise the Rate GIC for Business: 3.75%
5-year Raise the Rate GIC for Business: 4.00%
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 in a branch or by calling our Contact Centre.
This is a great option for you if:
- You want to set up a long-term investment for your business but you don’t want to miss out on potential earnings by locking into one rate.
- 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 at the rate you’ve got.
- Business is steady, so 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.
Initial interest rate for 3-year term: 3.75%
Rate match against similar Meridian GICs to increase your rate once over the course of your term
Initial interest rate for 5-year term: 4.00%
Rate match against similar Meridian GICs to increase your rate twice over the course of your term
Accessing your cash
- This GIC is non-redeemable
- 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.