BMO launches new term deposit

Toronto-based BMO Financial Corp. announced the launch of the BMO Money Multiplier Variable Term Deposit on Thursday. 

The new investment vehicle offers “exposure to the Canadian banking sector, with guaranteed protection” of the principle, according to a release.

The growth potential of the BMO Money Multiplier is based on the price performance of the S&P/TSX Banks Index.

The term deposit is an option for “new, cautious, or performance driven investors interested in gaining exposure to the Canadian banking sector, with guaranteed protection,” Mathieu Lepine, head, term investments, BMO Bank of Montreal, said in a release. 

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