A new high-rate Guaranteed Investment Certificate was introduced Monday by Bank of Montreal (TSX:BMO).

The new high-rate GIC offers the best rate among Canada’s major financial institutions at 2.3% for three years on investments up to $20,000, the bank says,

“The recent recession has underscored the value of safe and secure investment options for a lot of Canadians,” says Martin Nel, vice president, lending and investment products,. “We’ve developed the BMO high-rate GIC with this in mind and to allow our customers to protect their investment and save more of their money faster as the recovery continues.”

“Our customers have told us that they are looking for ways to save and keep more of their money,” adds Nel. “Protecting your savings with this new high-rate GIC provides that security, while guaranteeing a competitive return on investment.”

IE