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The Accelerated Rate GIC (RSP/RIF eligible) is a 5-year term investment that has an annual interest rate that increases each year of the term and provides a very attractive effective yield.
What's more, this special GIC offers you the flexibility to "redeem and extend" on the 3-year or 4-year anniversary date. If interest rates have gone up, you can re-invest the value of your GIC into a new GIC that is equal to or longer than the remaining term of your original Accelerated Rate GIC, and therefore benefit from higher rates. If rates have stayed the same or declined, you will continue to earn the original progressively rising rates. Now that's the peace of mind you want from a long term GIC!
Benefits
- Security of principal
- Guaranteed rate of return
- Flexibility to re-invest in a rising rate environment
Flexibility
- Interest payment options ranging from monthly to annually
- Option to "redeem and extend" on the 3rd or 4th anniversary dates at current rates for a GIC of equal or greater term than the remaining term
- Minimum investment $1,000
- Issued by The Bank of Nova Scotia, Montreal Trust Company of Canada, National Trust Company and Scotia Mortgage Corporation.*
* Only available for non-registered Scotia Accelerated-Rate GICs.
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