MONTREAL, Feb. 3 /CNW Telbec/ - To help investors in their retirement
and project planning, Laurentian Bank offers a number of products
responding to a wide range of needs. Based on the individual's profile,
risk tolerance and age, certain products will prove more advantageous
than others, and Laurentian Bank therefore has products to suit the
needs of every type of investor.
Key products offered by Laurentian Bank
Five-Year Xtra Multi-Rater GIC1
This product, which not only guarantees the capital invested but also
the return, is being offered until March 31, 2011, with a total
enhanced interest rate of 1.25%2, i.e. 0.75% bonus interest over the posted rate in the first year and
0.50% bonus interest over the posted rate in the second year, on a five
year term. This offer, which applies to new contributions and transfers
from another financial institution, improves the investor's compound
rate, resulting in a substantially greater return.
Eligible in an RRSP or RRIF, the Five-Year Xtra Multi-Rater GIC allows investors to gain an added degree of flexibility
in their investment portfolio by extending the possibility of
reinvesting in full on each contribution anniversary date (1st, 2nd, 3rd or 4th year). Thus, the customer enjoys a greater ability to react when
interest rates rise. As is the case for all guaranteed investment
certificates, the capital invested in this particular vehicle is
protected, and the investor can benefit from a higher return from one
year to the next.
Blue Chip ActionGIC3
For investors seeking high return potential and who wish to hold shares
in some of Canada's top companies, the Blue Chip ActionGIC is recommended. This indexed GIC is comprised of shares of leading,
well-established Canadian companies designated as blue chip by the
financial markets. In other words, they are recognized nation-wide for
their financial stability.
Available with a five-year term, this GIC offers a return potential
superior to that of conventional GICs and enables the investor to
benefit from the growth of 17 of Canada's best publicly-listed
companies while guaranteeing the capital invested.
These companies, which are vital to the Canadian economy and comprise
the stock portfolio of the Blue Chip ActionGIC, are as follows:
Royal Bank of Canada
Toronto-Dominion Bank (TD)
Canadian National Railway (CN)
Intact Financial Corporation
Suncor Energy Inc.
Guaranteed Investment Certificate (GIC) 26 months4
Designed for investors who wish to guarantee their capital, the 26-month
GID, as its name indicates, is offered for a very short term, i.e. two
years and two months. Available as both a registered and non-registered
investment, this product is helpful whether investors are saving for
retirement or for a particular project. This investment is currently
offered at a highly competitive rate of 2.30%5.
Laurentian Bank reminds its clients that the deadline for making an RESP
contribution for the 2010 tax year is Tuesday, March 1, 2011, at 11:59
Tax-Free Savings Account (TFSA)
The Laurentian Bank TFSA is the most comprehensive on the market, as it
can hold any of the following investments: cash account with tiered
interest rates, GIC, fixed term deposits, ActionGIC, bonds, coupons, and mutual funds.
The TFSA cash account is currently offered with a promotional interest
rate of 2.00%6 for all tiers. This product is designed for investors who are seeking
to benefit from a competitive interest rate in order to grow their
tax-free savings, either while building these savings up to the minimum
amount needed for a specific investment or because they wish to retain
a certain amount of cash in their investment portfolio.
About Laurentian Bank
Laurentian Bank of Canada is a banking institution operating across
Canada and offering its clients diversified financial services.
Distinguishing itself through excellence in service, as well as through
its simplicity and proximity, the Bank serves individual consumers and
small and medium-sized businesses. The Bank also offers its products to
a wide network of independent financial intermediaries through B2B
Trust, as well as full-service brokerage solutions through Laurentian
Laurentian Bank is well established in the Province of Quebec, where it
operates the third-largest retail branch network. Elsewhere throughout
Canada, it operates in specific market segments, where it holds an
enviable position. Laurentian Bank of Canada has more than $23 billion
in balance sheet assets and more than $15 billion in assets under
administration. Founded in 1846, the Bank employs more than 3,600
1 Compound interest on an annual basis paid at maturity. Option to
reinvest the full amount in a GIC with a term equal to or greater than
the term balance at each anniversary date or within the subsequent 10
days. When reinvesting before the end of the term, interest is
calculated based on the rate in force for each year. The Xtra Multi-Rater GIC is insured with the CDIC. Some conditions apply.
2 Offer is subject to change at any time and without notice. The bonus
interest will be spread over a period of two (2) years: 0.75% bonus
interest on the posted rate of the first year will be paid out the
first year and 0.50% bonus interest on the posted rate of the second
year will be paid out the second year. A client becomes eligible for
the bonus interest when contributing to an RRSP before March 31, 2011,
or transferring an RRSP from another financial institution before March
31, 2011. Investment renewals and other GICs are not eligible under
this promotion. The rates of the 5-year Xtra Multi-Rater GIC are subject to change at any time without notice. The
minimum investment of the Xtra Multi-Rater GIC is $500. When transferring an RRSP from another
financial institution, the base rate applicable to the Xtra Multi-Rater GIC shall be the posted rate upon receiving the funds. Offer
runs from December 16, 2010, to March 31, 2011 inclusively. Some
3 Rates can be modified at any time and without prior notice. The
investments are not redeemable before their maturity dates. Some
conditions apply. The ultimate rate of return of a Laurentian Bank Blue
Chip ActionGIC is calculated based on the performance of the benchmark index
between the issue date and the benchmark index average value on the
three dates specified on the purchase agreement. Because the rate of
return will depend on the performance of the benchmark index comprised
of securities, any variation in the benchmark index will have a direct
influence on the interest payable. Past performance is not an
indication of future performance. If the ultimate return is negative or
nil, the principal is fully guaranteed and returned at maturity, and no
interest shall be paid out. If the total return obtained is positive,
the principal and interest shall be paid upon investment maturity, up
to the maximum predetermined rate of return. Because the return of this
product is tied to the performance of a reference index, it's
impossible to predict future return. Details on this investment product
are available at Laurentian Bank branches.
4 Registered or non-registered. Non-redeemable. Some conditions apply.
5 Compound interest or annual basis. This rate can be modified at any
time and without prior notice by Laurentian Bank.
6 Some conditions apply. Interest is calculated on the daily minimum
balance and is paid monthly. This rate can be modified at any time and
without prior notice by Laurentian Bank.
SOURCE LAURENTIAN BANK OF CANADA
For further information:
Public Relations Advisor
514 284-4500, extension 4695