The Ultimate Laddered™ GIC (RSP/RIF eligible) has been created to offer higher GIC returns with increased flexibility and cashability. You can choose between a 3-year or 5-year term, depending upon your investment needs.
The Ultimate Laddered GIC Advantage
The Ultimate Laddered GIC delivers all of the great features of a traditional laddering approach, plus some additional benefits.
With a minimum investment of $5,000, you can take advantage of:
- One of the highest possible interest rates - get the 3 or 5-yr interest rate on the full amount of your investment, even in year one.
- Access up to 20% of The Ultimate Laddered GIC (5-year), or up to 33.33% of the 3-year version, on each anniversary (with no redemption penalty), or reinvest* this portion at the current rate of The Ultimate Laddered GIC by extending your GIC one more year.
- The flexibility to add additional funds to the same investment at each anniversary date.
- The ability to stay invested at your current interest rate and term.
- Just one GIC to manage.
- CDIC eligible.
*How it Works:
On your first anniversary you will have the following options:
- Extend The Ultimate Laddered GIC one more year to take advantage of the current rate of The Ultimate Laddered GIC creating a new GIC with a new blended interest rate for the same term as the initial investment.**
- Access up to 20% of The Ultimate Laddered GIC (5-year) or up to 33.33% of The Ultimate Laddered GIC (3-year) in principal and accrued interest.***
- Any combination of 1 and 2.
- Invest additional dollars at the current rate of The Ultimate Laddered GIC. This option will extend your present GIC one more year and blend it with your additional dollars to create a new GIC with a new blended interest rate.
- Deactivate the laddering strategy and stay invested at your initial interest rate and term****.
Availability
Scotiabank GICs are issued by the Bank of Nova Scotia (BNS) and its wholly owned subsidiaries, Scotia Mortgage Corporation (SMC), Montreal Trust Company of Canada (MTCC) and National Trust Company (NTC).
The Bank of Nova Scotia and other issuers of The Ultimate Laddered GICs are member institutions of the Canada Deposit Insurance Corporation (CDIC).
** When you initially purchase The Ultimate Laddered GIC, this option is automatically set as your first anniversary instructions, unless other instructions are provided.
Prior to each subsequent anniversary date, you will have the opportunity to change your previous anniversary instructions; if no changes are made, the previous year's instructions will be acted upon.
*** If you redeem less than your permitted portion, the unused portion cannot be carried forward and accessed at a future anniversary date. The redemption percentage is based on your then-current principal amount and accrued interest (if applicable) each anniversary.
**** If you choose option 5, you can continue to redeem up to 20% of the remaining principal of The Ultimate Laddered GIC (5-year) or up to 33.33% of the remaining principal of The Ultimate Laddered GIC (3-year) on each of the remaining anniversaries up to the maturity date of the GIC, however, you cannot extend your GIC by reinvesting (Option 1) or investing additional dollars (Option 4).
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