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Non-redeemable GICs generally yield a higher return because your funds are locked-in and cannot be cashed before the maturity date.
Benefits
- Guaranteed interest rate
- Security of principal
Features
- Available for Non-Registered, RRSP or RRIF portfolios.
- Competitive rates and a full range of terms from 30 days to 10 years for non-registered GICs, and 90 days to 5 years for RRSPs/RRIFs.
- Interest payment options ranging from monthly to annually.
- Rate can be "reserved" or pre-booked up to 14 days in advance on renewals and new purchases for non-registered plans.
- Rates can be guaranteed for up to 35 days prior to maturity, and 60 days for RRSP/RRIF transfers-in
- Can be renewed automatically on maturity.
- Existing GICs can be automatically transferred from your RRSP to your RRIF without any change in terms or rates.
- U.S. dollar GICs can protect against currency fluctuations by providing regular income in U.S. dollars (non-registered only).
- Issued by The Bank of Nova Scotia, Scotia Mortgage Corporation, Montreal Trust Company of Canada, and National Trust Company.
Details
|
Option
|
Term
|
Interest
Payment
|
Minimum
Investment
|
Short-Term
CDN $ |
90-364 days
30-364 days
(Non-Registered)
|
At maturity
At maturity
|
$1,000
$5,000
|
| Long-Term1 CDN $ |
1-5 years
|
Compounded annually
and paid at maturity
|
$1,000
|
| |
1-10 years
(Non-Registered) |
Compounded annually, semi-annually or monthly and annual pay2 |
$1,000
Note: $5,000
minimum investment
required if monthly
interest payments
requested
|
| U.S. Dollar |
30-364 days
(Non-Registered)
|
At maturity
|
U.S. $1,000
|
|
1-5 years
(Non-Registered)
|
Annually |
U.S. $1,000 |
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1 All Canadian dollar GICs with terms greater than five years and all U.S. dollar GICs are not insured by the Canada Deposit Insurance Corporation or Régie de l'assurance-dépôts du Québec.
2Equal payments available.
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*Interest rates are annual rates. The 3.15% annual interest rate applies only to the Special Rate 5-year GIC, which is a Canadian dollar non-redeemable investment. This Special Rate GIC is available within registered (excluding RESPs), non- registered, and Tax Free Savings Account (TFSA) portfolios. For non-registered GICs and GICs in a TFSA, interest is compounded annually and paid at maturity or annually where applicable. For registered GICs, the interest rate is compounded annually and paid at maturity. Not to be used in conjunction with other rate bonus or discretionary offers. The Special Rate 5-year GIC is issued by The Bank of Nova Scotia, Scotia Mortgage Corporation, Montreal Trust Company of Canada, and National Trust Company. We reserve the right to extend or cancel this offer at any time. For the Special Rate 5-year GIC, a minimum investment of $1,000 is required for registered (excluding RESP), non-registered, and TFSA accounts.
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