gic rates for six and seven years | MAXA Financial | Discussion forum

guest said:

maxa no longer offers six and seven year gic
the rate was really good to 3.6%

I believe that CDIC coverage at the banks will not cover an investment over 5 years and I guess the CU's offered the 6 and 7 year GICs as competition to the banks. I have never taken an option over 5 years and lately the rates for 6 and 7 years were not that good compared to the 3, 4 and 5 year offerings. So why bother ... take a 5 or a 7 what will the rates be at the end of the term..???