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TD Special GIC Rate – Week 5

12 June 2012

Several weeks ago, TD began 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 9th – June 15th, 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 5Product Rate
June 9th - June 15th100 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.

Now if you have been following this promotion by TD, you may have noticed a flaw in this weeks special rate.

What is the flaw?

The problem in my opinion is the fact that this rate is the same as last week! Now don’t get me wrong, I am all for running the rate longer if people are loving it, but this special should really be something different.

Personally, TD probably should have kept last week’s rate a tad longer, while introducing something new this week, then again that is just my opinion on it.

That said this particular GIC must have done pretty well to keep it around. 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.

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?



About the Author


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. I love everything there is about Canada and everything financially related to Canadians. I write deily posts from Canadian Banks to Credit Card information.

Comments (1 )

CJOttawa Wrote:

What am I missing?

Savings accounts pay 2% interest. (for example, Canadian Direct Financial’s Key Rate Savings)
CDF’s KeyReach TFSA pays 3% interest.

What’s the point of putting money in anything paying less, including money market funds?

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