BANK OF MONTREAL OFFER TWO NEW GICS
By Adnews Staff
The Bank of Montreal introduced two new guaranteed investment certificates this week called RateSensor GIC and Rate Optimizer Investment Certificate. The RateSensor is available in terms of 18 to 36 months and allows customers to cash in or reinvest their term deposit if GIC rates rise by one per cent for the 18 month term or by two per cent for the 19 to 36 month terms. RateOptimizer is a five-in-one money management tool in which the total amount a customer invests is divided by five and equally invested in separate GICs with terms of one to five years. Every year, one-fifth of the initial investment's principal matures and is available for use or can be automatically reinvested into a five-year GIC at the current rate. Both certificates require a $5,000 minimum investment. Both certificates are being promoted using in-branch advertising created by Vickers & Benson Advertising of Toronto.