As I mentioned several weeks ago, TD has been running a weekly promotion since May 12th, 2012. This promotion has been featuring a different GIC product each week, offering competitive rates for you to choose from.
To recap, these weekly GIC rates offers are in effect from Saturday to the following Friday every week till June 19th.
What is this weeks GIC rate?
From June 2nd – June 8th, 2012 TD will be featuring a 100 Day Special GIC offer.
This weekly GIC rate will be available till the end of Friday. That said, you have until the end of that day to lock in the special GIC rate before it resets to normal. Well although that will happen, the following Saturday will have a new GIC rate for you to have.
The special off TD is offering is as follows:
|Week 4||Product Rate|
|June 2nd - June 8th||100 Day Special Offer GIC 1.40%|
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 not bad; a 100 day special offer at 1.40%. 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.
Now looking at this GIC rate, and comparing it to the past few weeks, it is the exact same as the 2nd offer. Which is interesting, maybe they brought it back because it was popular; 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?