ROYAL BANK TARGETS BEGINNERS AND SENIORS WITH GICS
By Adnews Staff
The Royal Bank of Canada launched seven new Guaranteed Investment Certificates this week targeting seniors, young adults and novice investors. The Market Rate Increase GIC allows investors to lock in for three or five years at a certain interest rate and still benefit from future rate increases. The Medical Access GIC is a three to five year investment that is cashable in the event in a medical emergency. The Canadian Market-Linked GIC is available in three or five year terms, providing returns linked to increases in the Toronto Stock Exchange. The Global Market-Link GIC ties increases to five international stock market indexes. The Five-in-One GIC helps investors even out the effect of year-to-year interest fluctuations without tracking and managing separate certificates. The investor's principal is divided into five equal portions, with the entire principal earning the equivalent of a longer-term GIC rate. The Building Block GIC is designed for beginner investors who don't have the minimum amount required of most investments. Investors pre-determine the target amount they would like to build towards and make regular weekly, bi-monthly or monthly contributions starting with as little as $10 a week. The One-Year Cashable GIC can be cashed at any time with full interest paid if held longer than 90 days. The new products are being supported using national print and radio advertising created by MacLaren McCann of Toronto.