News Releases

- New BMO high-rate GIC pays 2.3 per cent guaranteed interest for three years on amounts up to $20,000 – the best rate among ‘Big Five' banks

- Provides Canadians with a safe and secure investment option with 100 per cent guaranteed protection

TORONTO, OCTOBER 4, 2010 – BMO Bank of Montreal today announced the launch of a new high-rate Guaranteed Investment Certificate (GIC), helping customers to protect more of their savings and reach their financial goals faster.

The new BMO high-rate GIC offers the best rate among Canada's major financial institutions at 2.3 per cent, and is designed to provide a safe and secure approach to investing with a guaranteed return at a highly competitive rate.

“The recent recession has underscored the value of safe and secure investment options for a lot of Canadians,” said Martin Nel, Vice President, Lending and Investment Products, BMO Bank of Montreal.  “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.”

The new BMO high-rate GIC pays 2.3 per cent interest for three years on investments up to $20,000 and offers 100 per cent guaranteed protection on the investment, giving Canadians the peace of mind that their investment is guaranteed to grow.

“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.” 

Furthermore, secured investments are ideal as a complement to an overall investment portfolio that includes a combination of equities and longer-term fixed income investment vehicles.

“Including high-rate guaranteed investments in your portfolio, such as the BMO high-rate GIC, helps Canadians to lower their overall risk while still offering value and the potential for growth,” said Serge Pepin, Head of Investments, BMO Investments Inc.

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For media inquiries please contact:

Matthew Duffin, Toronto, 416-867-3996, matthew.duffin@bmo.com

Sarah Bensadoun, Montreal, 514-877-8224, sarah.bensadoun@bmo.com