A couple of weeks ago I announced that TD is currently running a weekly promotion ever since May 12th, 2012. These weekly promotions will be featuring a different GIC product each week, offering a competitive rate.
As mentioned in my prior post, these weekly GIC rate offers are in effect from Saturday to the following Friday.
What is this week’s GIC rate?
From May 26th – June 1st, TD will be featuring this GIC product.
The weekly GIC rate will be offered throughout the week until Friday.
You have until the end of the day Friday to lock in the special GIC rate before it resets to normal, and you have to find out what TD will be offering for the following week on Saturday.
The special offer TD is offering this week is the following:
|Week 3||Product Rate|
|May 26 to June 1||15 Month Special Offer GIC 1.75%|
You will be able to earn a higher rate than traditional GICs and Term Deposits; this will allow you to maintain safety and security while investing.
This particular GIC is pretty good; a 15 month special offer at 1.75%. Remember, with any GIC rate being offered, you can purchase them in a variety of terms to maturity and account types. The account types you can have include non-registered, RSP and TSFA.
If you check the first week’s rate you will notice that it was the exact same offer, just lower by 0.5%. Which is something I find interesting; I wonder what next week’s GIC rate will be.
Is this GIC Worth it?
In the end, the main reason behind investing in these special offer GICs is the fact that you are gaining a competitive interest rate, which would otherwise not be given. What makes this promotion great is the fact that as it is offered, it is completely guaranteed for the term of your investment.
As I mentioned, these GICs are also eligible for non-registered and registered investment plan; this includes RSP, RESP, RIF and TFSA. It isn’t a bad offer when you think about it, and the term given is pretty decent.
The fact is, the special rate might prompt you to want to invest in these special GIC offers.
What do you think of this special GIC rate by TD?