Raise the Rate GIC for business
A GIC for business Members that gives you the control to raise your rate.
How does the Raise the Rate GIC work?
You get a competitive rate to start with:
3-year Raise the Rate GIC for Business: 3.90%
5-year Raise the Rate GIC for Business: 4.10%
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.
5-year Raise the Rate GIC
Rate match twice and increase your rate before your term ends.
4.10%*
Rate match against similar Meridian GICs
- Increase your rate once over the course of a 3-year term
- Increase your rate twice over the course of a 5-year term
Minimum investment
$100
Accessing your cash
This GIC is non-redeemable
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.
Around here, banking is different
Get the investing advice you need with a partner that puts your business and your well-being first. Call us at 1-833-905-1515.