Five-year GIC

More competition in any industry tends to help consumers. And in the case of GICs, it may mean slightly higher interest rates in the months ahead.

It’s RRSP season and banks in Canada are promoting products related to these accounts. One such product is the market-linked GIC. So, is now a good time to buy one of these products?

With the Bank of Canada keeping its overnight lending rate at 0.5%, savings accounts and GICs aren’t offering very high returns these days. But have you seen the stock market lately?

GICs get a bad rap in today’s low interest rate environment. When stock markets are reeling like they have been this summer, investors often seek save havens to wait out the storm. Cash is king for … Read More