September 30, 2017
Not sure how recent these are.
But if it's too good to be true, be on guard.
January 28, 2015
Just received an email from CT Bank
If you are contacted by phone, email or SMS text and offered a Canadian Tire Guaranteed Investment® Certificate (GIC) - STOP! It’s a scam.
Canadian Tire Bank does not employ representatives to promote or sell it’s GICs or other retail banking products in-person, over the phone, or by email.
If you, or someone you know, has been a victim of fraud, always report it.
Learn more about the current scam involving fraudulent GICs and how to protect yourself by visiting our website, ctfs.com.
January 9, 2011
I got the e-mail as well, and had to laugh. Why? After logging in, there are apparently no GIC's! The only additional offerings visible anywhere are under "products", and that's just some credit cards.
So no, I wouldn't think of buying a CTB GIC regardless!
The main accomplishment of almost all organized protests is to
annoy people who are not in them.
December 22, 2022
April 14, 2021
The Rock said
It would take a very gullible person to believe that a 6.25% GIC offer is legit. The problem is that there's no shortage of such people.
I do not believe gullibility is the problem. There are good promotional outliers.
For example, SBI offers a 1-yr USD GIC for 5.6% https://ca.statebank/gic
Most people (including me) might think that it was a scam, because no other institution could even come close to such a good rate. However, the rate is true.
The best broker rate is 5.51% so a 0.75% difference is not totally inconceivable, IMO; especially if there is a large amount.