A great way to grow your money
Investing can be a great way to grow your money, reach your goals and live the life you want. And in Canada, there are many great investment options that you can choose from. Take a look at some popular choices and then contact your Scotiabank Advisor to discuss the options that are right for you.
This is a type of bank account that pays interest on the money you deposit. Your funds are safe, secure and you can withdraw money from your savings account at any time.
Bonds are a loan to a government. When you buy a Canada Savings Bond, you’re lending your money to the Canadian government for a specific period of time, at a specific interest rate. When the term is up, the Canadian government pays your original loan back, plus interest.
Because Canada Savings Bonds are issued and backed by the Canadian government your money is safe and secure.
With a GIC, you invest your money for a specific period of time. GICs are usually “locked-in” for the full term. While the interest rate may vary, your original investment amount is “guaranteed”. That means you will always get your original amount back. For this reason, GICs are considered a very safe investment option.
When you invest in a mutual fund1, you are combining your money with other investors and then buying into a pool of investments. There are three main reasons that people invest in mutual funds: