I recently sold my house and I will be getting $600,000.00. I want a secure place to put it in as I ultimately wish to purchase multi res, I have looked into a step up GIC it will give the flexibility to take out the money anytime after an initial 30days for up to 100 days the rate is 1.25% -i was hoping to find something with a better return. I anticipate the finding the right apt building will take up to a year or so. Each bank will secure up to $100,000.00 if placed in a saving/checking or GIC account.
I would appreciate any suggestions.