Black Friday 2016: 2.25 year GIC at 2.05% | Alterna Bank | Discussion forum

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Black Friday 2016: 2.25 year GIC at 2.05%
November 25, 2016
8:10 am
Peter
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I just noticed this on Alterna's rates page (https://www.alternabank.ca/Rates/):

Black Friday 27 Month Term Deposit : 2.05%

* Special promotional rate subject to change without notice. Available for new deposits made between November 21, 2016 to November 28, 2016. Annual compound interest paid monthly or annually. Rate shown for annual interest. Maximum investment $500,000. Visit alterna.ca or an Alterna branch for details

November 25, 2016
9:52 pm
Loonie
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Note that this GIC is only available through Alterna Credit Union, not AlternaBank. This means it's insured by DICO, not by CDIC. It may be restricted to Ontarians, but I'm not sure about that.

It's very confusing, because they have given both their bank and their credit union the same name.

http://www.alternabank.ca = Alterna Bank
http://www.alterna.ca = Alterna Credit Union

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