I have a TFSA with ~$15k in it. ~$5k is invested into a 0.9% GIC, for 12-months, but I've been told by nearly everyone I've mentioned that rate to that I was burned, and that my money could have been invested in a far better way.
I was doing online account related maintenance this morning, and noticed my bank (Scotiabank) is offering a 18-month 1.4% GIC (hopefully that link is public), and advertising it like it's a great investment.
Is this worth investing in? I have very little experience in investing; the only thing I have to go on is they're saying their typical rate is 1.2% for 12-months. That makes it sound like a good thing, but I'd like a second opinion before I invest.
I have no use for the money in the short-term, so the fact that it's for 18-months isn't an issue.
Should I purchase it and throw all available $10k in?
I live in Canada if that's relevant to anything.