GIC Deposits FAQ

The most convenient way to access rates for B2B Trust and Laurentian Bank broker GICs is to simply click here. For a snapshot of GIC rates across the industry, contact Cannex Financial Exchanges Limited; rates can be obtained by either subscribing to their data feed or by visiting their website.

Commissions are paid at the rate of 0.25% per annum for terms of 1 to 5 years and prorated at 0.125% per annum for terms less than 1 year. Commission will be automatically paid on renewals. Commission cheques are issued on approximately the 15th of every month for investments placed during the previous month.

Depending on the product type, different rate guarantee features apply:

Non-Registered - The interest rate quoted on the date of sale will be honoured if the documents are post-marked by the next business day. The issue date is the date that the documents are received. Any unreasonable delay in receiving the documents (more than 5 business days) may result in the rate not being honoured. If the instructions are sent by courier and received within 2 business days, the rate guarantee will be honoured.

RRSP and RRIF - Interest rates on RRSP and RRIF transfers-in are guaranteed for up to 30 calendar days from the date the application and transfer authorization form are signed by the client. Renewal rates are guaranteed for up to 15 days from the renewal commitment date.

Depending on the type of GIC – and the duration of the term – the following minimum purchase requirements apply:

We offer a direct deposit service through Royal Bank of Canada and TD Canada Trust. (In Quebec, the direct deposit service is only available through Laurentian Bank branches.) Here’s how the service works outside of Quebec:

• Order deposit slips by filling out a Direct Deposit form and sending it by fax to 1.888.946.3448.
• Go to one of the aforementioned institutions to deposit your client’s cheque(s).
• The deposit stamp will determine the interest rate and date of sale of the GIC.
• Forward the original deposit slip with the application, along with a photocopy of the cheque(s) to: B2B Trust, Deposit Services, 130 Adelaide Street West, Suite 200, Toronto, Ontario, M5H 3P5.

Don’t forget to plan ahead as direct deposit slips may take 4 to 6 weeks for delivery.

Our Cashable GIC is redeemable prior to the maturity date. For all other GICs, there are no early withdrawal privileges except in the case of:

• Deceased - Full withdrawal, no interest penalty. All legal estate documents are required.
• Hardship - A written request must be submitted with documented evidence to support the claim.

Full or partial withdrawals are reviewed on an individual basis and may be subject to interest penalties, withholding taxes and/or service fees.

B2B Trust issues quarterly RRSP and RRIF statements. Laurentian Bank likewise issues quarterly statements when there is activity in the account; otherwise statements are issued annually.

Yes, all GICs are eligible for CDIC coverage as B2B Trust, Laurentian Bank, Laurentian Trust and LBC Trust are all members of the Canada Deposit Insurance Corporation (CDIC).