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Scotia GIC Rate Increases
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Scotiabank announced changes in the interest rates earned on Scotia GICs. The new rates are effective February 3, 2007.
- one-year GIC rate increased 0.30 per cent to 3.10 per cent;
- two-year GIC rate increases 0.20 per cent to 3.20 per cent;
- three-year GIC rate increases 0.25 per cent to 3.25 per cent;
- three-year Ultimate(R) GIC rate increases 0.10 per cent to 3.85 per
cent;
- four-year GIC rate increases 0.25 per cent to 3.25 per cent;
- five-year GIC rate increases 0.25 per cent to 3.30 per cent;
- five-year Ultimate(R) GIC rate increases 0.25 per cent to 4.05 per
cent;
- seven-year GIC rate increases 0.20 per cent to 3.40 per cent;
- ten-year GIC rate increases 0.20 per cent to 3.50 per cent.
- the effective yield on the five-year Accelerated Rate GIC increases
from 3.9972 per cent to 4.1563 per cent.
Remember kids, never use GICs unless you're near retirement. The piddly interest is garbage for young investors. You can find other guaranteed investments that return far higher.
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Barry
Mr. Do It All
Feb 8, 2007, 7:22 PM
Post #1 of 1
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