Scotiabank Equity Powered GIC

Consider this investment if:

  • You want a 100% principal guaranteed
  • Eligible for CDIC insurance**. Please see CDIC Deposit Insurance Information for further details.
  • You want the potential to enhance your GIC returns
  • You want to invest for two years or longer
  • You are willing to forgo the guaranteed return of a traditional GIC in exchange for the potential to earn a higher return

Scotiabank Equity Powered GICs

Scotiabank Equity Powered GICs

View current rates and basket values

Canadian Income Canadian
Guaranteed Return
Canadian
Growth
American
Growth
Global
Growth
Term in years 2, 3 or 5 2, 3 or 5 2, 3 or 5 2, 3 or 5 2, 3 or 5
Minimum
Annual Guaranteed
Interest Rate
Paid annually Compounded
and paid at maturity
None None None
Increasing Maximum Potential Return
Maximum
Potential Return*
Paid annually Paid at maturity Paid at maturity Paid at maturity Paid at maturity
Linked to Basket of
Canadian
Shares
Basket of
Canadian
Shares
Basket of
Canadian
Shares
Basket of
US
Shares
Basket of
Global?
Shares
Minimum
investment
$1,000 (Canadian Dollars Only) $1,000 (Canadian Dollars Only) $1,000 (Canadian Dollars Only) $1,000 (Canadian Dollars Only)
Principal 100% Principal Guarantee 100% Principal Guarantee 100% Principal Guarantee 100% Principal Guarantee
CDIC eligible Yes Yes Yes Yes

How do Scotiabank Equity Powered GICs compare with other investments?

Scotiabank Equity
Powered GICs
Regular GICs Scotia Stock Indexed
GICs
Direct Market/Stock
Investment
Principal 100%
guaranteed
Yes Yes Yes No
CDIC eligible Yes Yes Yes No
Can be redeemed? No No No Varies
Offers minimum
guaranteed rate?
Yes, for Canadian Income and Canadian Guaranteed Return Yes, full rate guarantee No No
Return calculation Linked to a diversified
Basket of Shares
Fixed interest rate Linked to the
performance of a stock
market Index
Determined by
performance of
investment
Fact Sheets

List of current and previous fact sheets.

Are there any fees associated with Scotiabank Equity Powered GICs?
No, there are no fees.

What is the process for purchasing Scotiabank Equity Powered GICs?
Please visit your local branch to purchase your Scotiabank Equity Powered GIC. You will earn interim interest between the date you purchase a Scotiabank Equity Powered GIC and the GIC's issue date. When your Scotiabank Equity Powered GIC is issued, the initial amount you invested, plus any interim interest you've earned, are added together and become the Equity Powered GIC principal amount, which is fully guaranteed.

What payout options do I have?
You can select any of the GICs offered under the Scotiabank Equity Powered GIC suite. The difference between the options is the combination of the Minimum Annual Guaranteed Interest Rate, if any, and the maximum potential return. In addition, the Scotiabank Equity Powered GIC – Canadian Income pays annually a minimum guaranteed interest rate and additional return related to the basket of shares, if any. You may arrange to have this interest paid to your Scotiabank deposit account or your bank account at another financial institution. You can also choose to reinvest the interest in your Scotia Investment Account, or we can send a cheque payable to someone else you name.

What is in the Basket of Canadian Shares?
The Basket of Canadian Shares is a diversified group of Canadian companies equally weighted for the initial price.

What is in the Basket of American Shares?
The Basket of American Shares is a diversified group of US Companies equally weighted for the initial price.

Is the underlying basket of shares different among the options?
The underlying basket of shares for the Scotiabank Equity Powered GIC - Canadian Income, Canadian Guaranteed Return, and Canadian Growth is identical. The only difference among them is in the combination of minimum annual guaranteed interest rate, if any, and maximum potential return. The Scotiabank Equity Powered GIC - American Growth has a unique underlying basket of shares of US companies.

Which investment is right for me?
The Scotiabank Equity Powered GIC - Canadian Income is unique as it pays annually a minimum guaranteed interest rate and additional return related to the basket of shares, if any, during the term of your investment, allowing you to lock-in gains generated, if any, by the performance of the underlying basket of shares of Canadian companies. The other Scotiabank Equity Powered GICs allow you to tradeoff a minimum annual guaranteed interest rate for a higher maximum potential return. All Scotiabank Equity Powered GICs offer 100% principal guarantee and are CDIC eligible.

Do I need to choose only one of the payout options?
The minimum investment is $1,000. Therefore, if you have $3,000 to invest, you could, for example, choose to purchase the Scotiabank Equity Powered GIC - Canadian Income for $1,000 for 3-years, the Scotiabank Equity Powered GIC - Canadian Guaranteed Return for $1,000 for 5-years and the Scotiabank Equity Powered GIC - American Growth for $1,000 for 5-years, thereby laddering your maturity dates and diversifying your investment.

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