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Meirdian 3.25% GIC 1-YEAR

  • Last Updated:
  • Sep 26th, 2018 12:37 pm
Tags:
Newbie
Dec 19, 2012
68 posts
29 upvotes
Toronto

Meirdian 3.25% GIC 1-YEAR

Deal Link:
Comparing the GIC out there this looks to be one of the best if not the best out there right now, see more info below:

Low minimum investment ($100)

Guaranteed principal and interest

Offer is limited to new deposits only

Deposits are insured by DICO up to $250,000 for non-registered and unlimited for registered
Available for non-registered, TFSA, RRSP and RRIF investments
Last edited by promiseland on Sep 23rd, 2018 3:22 pm, edited 3 times in total.
17 replies
Newbie
Feb 5, 2014
1 posts
Windsor
omniadirect has been offering 3% GICs for a long time
Deal Addict
Oct 20, 2004
3830 posts
826 upvotes
Toronto
Is there a penalty for withdrawal of cash prior to the one year maturity?

I can't seem to find the terms using my phone...
Deal Fanatic
Jul 26, 2007
7579 posts
5274 upvotes
Toronto
flame02 wrote: Is there a penalty for withdrawal of cash prior to the one year maturity?

I can't seem to find the terms using my phone...
You forfeit the interest
Deal Addict
Jul 10, 2014
3877 posts
1975 upvotes
Ottawa, ON
I need to close my account or reactivate it with some kind of use -- so this seems nice.
Deal Guru
Aug 5, 2006
10747 posts
7908 upvotes
Global Village
it's even better, 3.25% for 1 year now OP.
All day I dream about sports

Tangerine, Meridian, EQ Bank, Simplii, CIBC Investor's Edge
Newbie
Dec 19, 2012
68 posts
29 upvotes
Toronto
scoper wrote: it's even better, 3.25% for 1 year now OP.

That's good news I have updated the rate from 3% to 3.25%.
Newbie
Dec 19, 2012
68 posts
29 upvotes
Toronto
klak1212 wrote: omniadirect has been offering 3% GICs for a long time
Merdian is actually offering now 3.25%
Sr. Member
User avatar
Mar 11, 2004
811 posts
619 upvotes
Quebec City
promiseland wrote: Merdian is actually offering now 3.25%
"Merdian" would be an awesome company name here in Quebec, but I guess you mean Meridian.
Deal Guru
Aug 15, 2015
10499 posts
7635 upvotes
ON
jakeoh wrote: "Merdian" would be an awesome company name here in Quebec, but I guess you mean Meridian.
They would all have MR2'z as company cars.
Member
Jan 2, 2009
490 posts
235 upvotes
They also have a 5 year at 3.75, new deposits only.
Penalty Box
Dec 27, 2013
8003 posts
4050 upvotes
Toronto
nanyte wrote: They also have a 5 year at 3.75, new deposits only.
why would u take 5 years at 3.75 when 1 year is 3.25 and you are in a rate rising environment though.
Deal Addict
Apr 4, 2017
2049 posts
660 upvotes
Toronto
How is the rate cculated? Monthly or deposit the interred at the end of the year or 12 month?

I'm debating this or tangerine.
Deal Guru
Aug 5, 2006
10747 posts
7908 upvotes
Global Village
ysl5710 wrote: How is the rate cculated? Monthly or deposit the interred at the end of the year or 12 month?

I'm debating this or tangerine.
It is an annual rate paid at the end of the 1-year term.
All day I dream about sports

Tangerine, Meridian, EQ Bank, Simplii, CIBC Investor's Edge
Sr. Member
Dec 29, 2014
629 posts
601 upvotes
Canada
The fine print states "The 1-Year GIC is available to Meridian Retail Members only. "
Member
Jan 2, 2009
490 posts
235 upvotes
daivey wrote: why would u take 5 years at 3.75 when 1 year is 3.25 and you are in a rate rising environment though.
Come back in 5 years, and tell me if the rates are at 3.75% yet. I don't believe they will be. but if you have a crystal ball, all the more power to you.
Deal Fanatic
User avatar
Mar 31, 2017
7070 posts
3384 upvotes
is there a way to transfer money online from TD Bank to Meridian?
Member
Jan 2, 2009
490 posts
235 upvotes
badOne wrote: is there a way to transfer money online from TD Bank to Meridian?
Yes. you set it up through Meridian, there is a form and you need a blank cheque, then you can just go to the Meridian online banking and do the transfer. That is how I always do it.

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