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Raise the Rate GIC for Business

A business GIC that gives you the control to raise your rate

Benefits of a Raise the Rate GIC for Business

Raise your earnings

Don’t worry about the risk of locking in for the long-term. If rates go up, you can “rate match” and increase the amount of interest you earn.


Build great savings

Choose from a 3-year term starting at 2.60% or 5-year term starting at 2.70%.


Guaranteed investment

Your business savings are safe – you’re guaranteed to get your principal investment back.


How it works

You get a competitive rate to start with:
3-year Raise the Rate GIC for Business: 2.60%
5-year Raise the Rate GIC for Business: 2.70%
 
Plus, you can increase your rate. Let’s say you buy our 3-year Raise the Rate GIC, and then a few months later you see that interest rates for similar Meridian GICs have gone up. All you have to do is request a rate change in a branch or by calling our Contact Centre.


This is a great option for you if:

  • You want to set up a long-term investment for your business but you don’t want to miss out on potential earnings by locking into one rate.

  • You like flexibility and security – you can raise your rate when you see a better one, but when rates start going down you can keep earning at the rate you’ve got.

  • Business is steady, so you feel confident that you won’t need access to your money before the term is up.

  • You have a minimum of $100 to invest.

     


Open Raise the Rate GIC now

1-866-592-2226

Rates 

Initial interest rate for 3-year term: 2.60%
Rate match against similar Meridian GICs to increase your rate once over the course of your term (See FAQ "How do I rate match my rate?")

Initial interest rate for 5-year term: 2.70%
Rate match against similar Meridian GICs to increase your rate twice over the course of your term (See FAQ "How do I rate match my rate?")
 

Minimum investment

$100 
 

Accessing your cash

  • This GIC is non-redeemable

  • Penalties apply if you access your money early

Interest

  • All rates are annual rates of interest.

  • Interest is calculated/compounded annually and paid annually and at maturity.

  • If you increase your rate, the annual interest paid will be pro-rated based on the two rates used for that year and the length of the time each rate is held. The overall yield will be a combination of the rates.

  • You earn more interest the longer you keep your money invested.

 

​Explore all rates


Want to talk about opening this GIC? Fill out this form and one of our Business Advisors will contact you.

Frequently asked questions


  • How do I rate match?

    You can match your rate against select GICs with the same term.

    For the 3-Year Raise the Rate GIC you can match against the rate for:

    • 3-Year Raise the Rate GIC

    • 3-Year Fixed-Rate GIC

     
    For the 5-Year Raise the Rate GIC you can match against the rate for:

    • 5-Year Raise the Rate GIC

    • 5-Year Fixed-Rate GIC

  • How will I know whether I can raise my rate?

    You can take control of your rate by monitoring rate changes and requesting an increase when you see a better rate. If you’re registered for Online Banking you will get a notification to let you know when you’re eligible for an increase.

  • How do I raise my rate?

    You can request a rate change two different ways:

    • Visit any Meridian branch location and request a rate change

    • Call the Contact Centre and request a rate change