The banks up here are pretty rigid on this kind of stuff. Not sure which one of the banks you dealt with, but I know the one I deal with has about 4 or 5 options when it comes to interest-bearing GIC's. I usually go with the option of a 3-year term but carries some flexible redemption options, i.e. for the first year you can cash it in each month on the date of deposit. After the first year you can only cash it in on the annual anniversary date. They have others that are locked in for the full term that pay slightly higher interest (not that it makes a difference at current rates), but I prefer to have a little flexibility. But yes, the way you were treated sounds like normal bank policy (in Canada).
At one time the banks were into Term Deposits which could be cashed early at a reduced interest rate but you don't hear much about them anymore. They would be assignable as security on a loan like a GIC is but the rates are pathetic.
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Today's Featured Article - Talk of the Town: What's The "Stuckest" You've Ever Been? - by Edited by Kim Pratt. Another great discussion from the Tractor Talk Discussion Forum. The discussion started out with the following post: "I was about 14 (part of the problem) when I got stuck. I was disking with a cab equipped IH 966. The window was dirty and I was driving into the evening sun. It was hard to see and it was my first pass down the field. I got the tractor so stuck that the underside of the tractor was resting on the ground. My uncle wanted
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