Negotiate GIC rates
Here’s one important point to remember when investing in GICs for your RRSP. Most bank and trust company branch managers have the discretion to improve on the posted rates. All you have to do is ask. They can usually give you up to a quarter point more, but we’ve heard of some bonuses of up to three-quarters of a percent where a lot of money was involved and the financial institution wanted to keep the business. So don’t be afraid to do a little hard bargaining.