Desjardins offers variable-rate GIC

Desjardins Group has announced that it will offer a five year GIC which features an annual interest rate adjustment. The “5-in-1” Enhanced Rate Guaranteed Investment will be available January 31.

The product is aimed at investors who are reluctant to lock in at a fixed rate, fearing interest rates will rise over the next five years. The investment is redeemable or convertible each year, and is eligible for RRSP and TFSA plans.

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