*GIC interest rates expressed are annual interest rates and current as of today’s date. Rates are subject to change without notice. Interest is calculated and accrued daily. Interest is paid at maturity unless otherwise specified. This does not apply to Market-Linked GICs.
1Meridian will redeem a cashable term deposit prior to the maturity date. No interest is payable when it is redeemed within the first 90 days. Redemptions after 90 days of the investment’s start date are not subject to an early redemption fee. Interest will be paid to the date of redemption as stated by the predetermined interest rate. Redemptions are only allowed on the full amount of the investment.
2The 3 Year Escalator is cashable in whole or in part on its anniversary date and 30 days thereafter. At all other times this product is non-redeemable. The 5 Year Escalator is transferrable to a non-redeemable term that is at least one year in length on its anniversary date and 30 days thereafter. At all other times this product is non-redeemable. Available for registered (TFSA/RRSP/RRIF) products only.
3Both the 3-year Raise the Rate GIC and the 5-year Raise the Rate GIC are non-redeemable over the life of the product. The initial investment is made at the prevailing rate for the Raise the Rate GIC. Members are eligible to increase the rate once over the life of the 3-year Raise the Rate GIC and twice over the life of the 5-year Raise the Rate GIC. Rate matching is only available against the comparable GICs offered by Meridian. In order to implement a rate increase, the Member must initiate the request. The rate increase will not be automatically implemented. After a rate increase has been exercised, the term and maturity date of the GIC remain the same. The effective date of the rate change will be the date on which the Member requested the change. The exception to this is if a Member requests a rate change on December 30 or December 31, the effective date of the rate change will be no later than January 2 of the following year. Interest is calculated/compounded annually and will be paid annually and at maturity. During the course of the term, if a Member has elected to increase their rate, the annual amount of interest paid for that year will be pro-rated based on the two rates used for that year and the length of the time each rate held. The actual overall yield for the full term of the deposit will be based on a blend of the original contract rate and any elected increases to the rate.
4U.S. dollar deposits are not covered by the Financial Services Regulatory Authority (FSRA).
5Meridian will redeem a redeemable term deposit prior to the maturity date. No interest is paid when redeemed within the first 30 days. Redemptions after 30 days of the investment’s start date are subject to an early redemption fee equal to 1/3rd of all interest paid and payable from the start of the term to the effective date of the redemption request. Redemptions are only allowed on the full amount of the investment. All interest paid and payable is treated as taxable income. Early redemption fee does not reduce amount of taxable interest.
Deposit Insurance: Eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA). Eligible deposits (not in registered accounts) are insured up to $250,000 through the Financial Services Regulatory Authority (FSRA). For more information, visit the FSRA website.
