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MRS GICs |
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Introduction |
MRS GICs are conservative fixed-income investment vehicles that offer security, flexibility, value and convenience. MRS offers competitive interest rates on a wide range of short-term and long-term GICs.
Terms
Short-term GICs range from 30 to 364 days.
Long-term GICs range from 1 to 5 year terms.
Eligible Accounts and Minimums*
MRS GICs can be held within the following accounts:
- MRS Self-Directed Registered Account
• Minimum investment is $1,000
- MRS Investment (non-registered) Account
• Short-term deposits of 30-90 days are not eligible within this account type
• Minimum investment is $500
- Mackenzie Financial Group RRSP
• Short-term deposits of 30-90 days are not eligible within this account type
• Minimum investment is $1,000
- M.R.S. Trust Company GIC RRSP
• Eligible holdings within this RRSP are MRS GICs only
• Short-term deposits of 30-364 days are not eligible within an MRS Trust GIC RRSP
• Interest payments only available as compounded to maturity
• Minimum investment is $2,500
- Non-registered holding directly with M.R.S. Trust Company
• Minimum short-term investment is $10,000
• Minimum long-term investment is $2,500
*For annual paying or compounded to maturity.
Interest
Interest is compounded to maturity or paid monthly, semi-annually or annually for one-year to five-year terms. Interest is paid at maturity on GICs of 30 to 364 days.
For semi-annual payments, the rate is 1/8% below annual rate; the minimum is $5,000.
For monthly payments, the rate is 1/4% below the annual rate; the minimum is $10,000.
GICs held within an M.R.S. Trust Company GIC RRSP are only available as compounded to maturity.
Note: Monthly and semi-annual interest is deposited by electronic transfer only. You must submit a void cheque for electronic transfers to be completed.
CDIC Deposit Insurance
M.R.S. Trust Company (MRS) is a member institution of the Canada Deposit Insurance Corporation (CDIC). |
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