Bankers discussing GIC Rates

GIC Rates – How Much Higher Than Their Posted Rates Are Financial Institutions Willing To Offer Customers?

Introduction Given the volatility of the current economy, and the uncertain future actions of the Bank of Canada, more and more investors are seeking safer alternatives to invest their money. Furthermore, while the annual pace of inflation is outpacing the rates being offered by GICs, the guaranteed nature of this investment is appealing for those investors burned by the downturn in the markets this year. No doubt many investors are savvy enough to ask for higher rates than posted. With this in mind, we recently conducted a mystery shop to see how much higher investment advisors financial institutions (FIs) were willing to offer customers than the posted rates. 5 major… Read More

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