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
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.
You can purchase Scotiabank investment products:
Online with Scotia OnLine (minimum purchase amount $1,000.00).
