TD Special GICs – Part One
- Friday, June 5, 2009, 6:04
- Finance, Investing
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Today will start a two part report on the Special GICs that are currently being offered at the Toronto – Dominion Bank (TD). In case you are wondering why I am doing this it is only because that there are a few Special GICs which need a more detailed explanation.Special GICs offer a guaranteed principal and are available within an RSP, RESP, RIF and TFSA.
Now within the Special GICs you have eight categories; 5-Year Stepper GIC, 1+1 GIC, Triple Value GIC, Special Edition 19-Month GIC, GIC with Special Pricing, 90 Day Auto-renew Special GIC, Premium Rate Business GIC and Security GIC Plus.
A 5-Year Stepper GIC is an investment which features a 5-year term with an annual interest rate which increases on each anniversary date – think of it as you wedding anniversary and on every one you have to buy a more expensive gift than the last. You also have the option of redeeming all or a portion of your investment on each anniversary date.
Now a 1+1 GIC is an investment which features a 2 year term with a guaranteed rate that escalates in the second year. If you decide to change your investment goals or require access to funds you are able to redeem it in full on the first anniversary date.
The Triple Value GIC is an investment which if on a 3 year term with guaranteed rates that increases in each year of the term. Like the 1+1 GIC you are able to redeem your money in full on the first or second anniversary date.
The Special Edition 19-Month GIC is for those who are not ready for a long term investment. It has a mid- term option with a good rate.
TDs 90 Day Auto-renew Special GIC is for those who are unsure of their investment timeframe. It is a low maintenance investment which you can continue to earn a premium short-term rate indefinitely while maintaining access to your funds every 90 days.
With these Special GIC options you are sure to make an investment choice which perfectly suits you. Keep in mind there are more Special Investments to come, for now contemplate the GICs listed before I bring out the next set.
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My favorite weapon of choice is the samurai sword. I use it to cut my chicken during dinner, cut my hair and periodically carve my name into stone when I am bored. I love meditating on top of a 15ft high pole and eating those sushi’s with smoked salmon on top.
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