MONTREAL, Jan. 15 /CNW Telbec/ - In a market where competitiveness calls the shots, Laurentian Bank is setting the pace by enhancing its five-year Xtra Multi-Rater GIC(1), a unique, progressive rate vehicle designed for investors looking for positive returns and flexibility alike. This product, which not only guarantees the capital invested but also the return, is being offered until March 31, 2010 only with an enhanced first year rate of 1.25% for amounts under $25,000, and 2.00% for amounts of $25,000 or more on a five-year term. As such, this GIC improves the compound rate to offer the saver a substantially greater return.
Eligible in an RRSP, RRIF or a TFSA, the 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 saver 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.
The Xtra Multi-Rater GIC is being offered at all Laurentian Bank branches and online at www.laurentianbank.ca.
About Laurentian Bank
Laurentian Bank of Canada is a banking institution operating across Canada and offering its clients diversified financial services. Differentiating 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 Bank Securities.
Laurentian Bank is well established in the Province of Quebec, operating 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 $22 billion in balance sheet assets and more than $14 billion in assets under administration. Founded in 1846, the Bank employs more than 3,500 people.
(1) Some conditions apply. Offer is subject to change at any time and
without notice. The bonus interest applies to the posted rate during
the 1st year of the 5-year Xtra Multi-Rater GIC. It is granted when
the client contributes to an RRSP before March 31st, 2010 or
transfers an RRSP from another institution before March 31st, 2010.
Investment renewals and other types of GICs are not eligible to this
promotion. The rate of the 5-year Xtra Multi-Rater GIC is subject to
change at any time without notice. The minimum investment of the Xtra
Multi-Rater GIC is $500. Offer runs until March 31st, 2010.
SOURCE Laurentian Bank of Canada
For further information: For further information: Mary-Claude Tardif, Public Relations Advisor, (514) 284-4500, extension 4695, email@example.com