BMO RateOptimizer® Max GIC
| BMO RateOptimizer® Max GIC |
|
| Item |
Details |
| Term(s) |
Five year initial term. On each anniversary, the investment will be automatically extended for one more year, blending in the current 5 year rate to create a new 5 year term and rate, unless termination of automatic extension feature requested. |
| Access to Funds |
Not cashable prior to maturity
Maturity of the investment occurs 5 years after the termination of the automatic extension feature is requested. |
| Interest Payment Option |
Non-registered: Monthly, annually, or compounded annually and paid at maturity
RSP: Compounded annually and paid at maturity |
| Minimum Investment Amount |
$1,000 |
| Plan Eligibility |
RSP |
| Automatic Reinvestment |
Each year, as the term is extended, 20% of the investment’s overall blended rate will be updated by factoring in the prevailing five-year renewal rate. Automatic reinvestment continues annually until termination of automatic extension feature requested. |
| Issued By |
Bank of Montreal Mortgage Corporation (BMMC) |
| Transferability |
Yes, Non-registered only |
| Available to Business Banking Client |
Yes, Non-registered only |
| Statements |
Annual Statement (January/February) |
| Available to Non-Residents |
No |
| Continuous Savings Plan Option |
No |
| Guaranteed By |
Bank of Montreal (BMO) |
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