TFSA Pre-Sale at Laurentian Bank: Offering Savers a Bit of a Head Start

MONTREAL , Nov. 25 /CNW Telbec/ - In view of the high demand for its Tax-Free Savings Account (TFSA), Laurentian Bank is providing savers with an opportunity to invest early by launching a TFSA pre-sale.

Between now and December 31, 2009 , savers can make a contribution to their TFSA via one of three of the following featured products:

    
    -   29-month GIC Xtra offering a rate of 1.85%, reinvestable as of
        January 1, 2010 in another term deposit product whose term is equal
        to or longer than the term remaining(1)
    -   47-month non-redeemable GIC offering a rate of 2.60%
    -   term deposit offering a rate of 1.10% that is redeemable without
        penalty after six months
    

The amount invested in any of these products will be deposited into a Laurentian Bank Tactical TFSA in January 2010 , and the product's rate and remaining term will be renewed.

Laurentian Bank reminds savers that the maximum amount that can be invested in a TFSA is $5,000 as of the 2009 taxation year, as well as that any sums not invested can be carried over to subsequent years. In order to take advantage of this offer, savers are invited to visit one of the Bank's 156 branch locations or to call the Telebanking Centre at 1 800 252-1846.

About Laurentian Bank

Laurentian Bank of Canada is a banking institution operating across Canada and offering its clients diversified financial services. Differentiating itself through excellence in service, as well as through its simplicity and proximity, the Bank serves individual consumers and small and medium-sized businesses. The Bank also offers its products to a wide network of independent financial intermediaries through B2B Trust, as well as full-service brokerage solutions through Laurentian Bank Securities.

Laurentian Bank is well established in the Province of Quebec , operating the third-largest retail branch network. Elsewhere throughout Canada , it operates in specific market segments where it holds an enviable position. Laurentian Bank of Canada has more than $21 billion in balance sheet assets and more than $14 billion in assets under administration. Founded in 1846, the Bank employs more than 3,500 people.

    
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    (1) TFSA Authorization Codes must be indexed. Maximum of $5,000. Please
        note that this product will be automatically transferred to a TFSA in
        January 2010.
    

For further information: Mary-Claude Tardif, Public Relations Advisor, [phone], extension 4695, [email protected]