GIC Style Deposits Available Now
The Benefit Guys offer Guaranteed Investment Style Deposits using deferred annuities thru a number of Canadian Insurance companies. These deferred annuities are fee free, and the money is invested in the appropriate insurance company, not directly with The Benefit Guys.
We try to keep everything current, but rates change from time to time. If you have a sum of money to invest, or would like to transfer some investments, please contact us for current rates and instructions how to complete the transaction.
The rates below are the most current rates and the rates apply to both registered and non registered funds.
As of September 18, 2009
| Term |
Band 1 |
Band 2 |
Band 3 $25,000 - $49,999 |
Band 4 $50,000 - $249,999 |
|---|---|---|---|---|
| Daily Interest |
0.50%
|
|||
| 2-Year | 1.30% | 1.50% | 1.60% | 1.70% |
| 3-Year | 1.95% | 2.15% | 2.25% | 2.35% |
| 4-Year | 2.40% | 2.60% |
2.70% |
2.80% |
| 5-Year | 2.80% | 3.00% | 3.10% | 3.20% |
| 10-Year | 3.20% | 3.40% | 3.50% | 3.60% |
Fee Free Deferred Annuities
The following comparison illustrates Deferred Annuity rates as of September 18, 2009 compared with the major banks’ products as of September 3, 2009 based on a $10,000 investment. This product is redeemable whereas the major banks’ products are not.
| Term |
Fee Free Deferred Annuities |
Average rates at Major Banks* |
|---|---|---|
| 1-Year | 0.70% | 0.41% |
| 2-Year | 1.50% | 1.31% |
| 3-Year | 2.15% | 1.55% |
| 4-Year | 2.60% | 1.72% |
| 5-Year | 3.00% | 2.08% |
* Major Banks: Bank of Montreal, Bank of Nova Scotia, CIBC, Royal Bank and TD Bank
The Benefit Guys can also arrange to open up your new Tax Free Savings Account. Don’t forget to ask.