According to a Manulife announcement, Canadians can start with a basic GIC account and then add specialty laddered and escalating-rate options within one contract.
The company said many financial advisors recommend clients selecting fixed-term instruments choose a variety of investment terms so a portion of the portfolio renews each year at the current prevailing rate – a technique known as laddering.
The minimum investment is $5,000, Manulife said.
The company said the new Manulife Investments GIC also offers:
- a half-year rate bonus for adding six months to a standard-length term on the basic accounts
- 30-day rate guarantees on new investments
- 30-day “better- of” rate guarantees for renewals.