The short term GICs were always one of my favourite features. You could earn slightly more interest for locking your money in for less one year. They have a 90 day, a 180 day, and a 270 day short term GIC. For me this was perfect because I wasn't sure what I wanted to do with my money yet, but I knew I wouldn't need it for a couple of months, but wasn't sure about a year.
I also used it as a staggered saver, meaning, I had the maturity dates staggered so that I always had cash coming available at different times. This is a great way to lower your risk as well.
Ever since interest rates have gone up, ING has not increased the rates for their short term GICs! This is a bit ridiculous as their 90 day GIC is equivalent to their investment savings account! There is no incentive to lock your money into a GIC if the rates are the same! In addition, their 270 day is at 4%, which you can earn at PC financial and many other high interest savings accounts.
While this short term GIC is a great feature, ING is not using it to its fullest potential. I'm very disappointed.
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