Home Breadcrumb caret Industry News Breadcrumb caret Industry Meridian introduces GIC with price matching Investors can get a higher interest rate during a GIC’s term By Staff | September 19, 2019 | Last updated on September 19, 2019 1 min read © pilens / 123RF Stock Photo Toronto-based Meridian Credit Union has announced the launch of its new “Raise the Rate” GIC, which allows investors to move into a higher interest rate during a GIC’s investment term. The GICs are available in a three-year term at 2.6% and a five-year term at 2.7%. Investors are permitted to price-match once over the life of the three-year product and twice over the life of the five-year version. “We created the ‘Raise the Rate’ for investors who may be hesitant to lock into a longer-term investment vehicle, particularly in an uncertain interest rate environment,” Wanita Fonseka, Meridian’s vice-president, retail member experience, said in a statement. “It gives investors choice, flexibility and peace of mind knowing they’re obtaining a great rate for their GIC now, with the ability to potentially increase that rate over its life term,” she added. Staff The staff of Advisor.ca have been covering news for financial advisors since 1998. Save Stroke 1 Print Group 8 Share LI logo