Guaranteed Income Optimizer (GIO)
Is this Guaranteed Investment Certificate (GIC) right for you?
Right for you if you:
- Need guaranteed payments of principal and interest, regardless of market conditions or interest rate fluctuations
- Value ability to customize your cash flow and adjust payments as your needs change
May not be right for you if you:
- Need access to your full investment prior to maturity
- Income payments from your investment are not needed
A flexible solution to support your changing income needs
- Guaranteed payments, regardless of market conditions or interest rate fluctuations
- Guaranteed principal
Consider this solution if:
- You want to be able to select among multiple payment schedules
- You want to plan your retirement in 1 to 10 year increments
- You want to customize your cash flow as your needs change
The Guaranteed Income Optimizer (GIO) is built to meet your diverse need for income, especially in retirement. You have built up your savings and now you can enjoy them by receiving a guaranteed, stable and predictable payment stream that is fully customizable.
A GIO can be so flexible that it makes planning for a 20- to 30-year retirement more manageable. You can plan for payments in retirement in increments of as long as 10 years by purchasing a 10-year term GIO. However, for shorter horizons, you can choose a GIO with a term as short as 1 year.
When you invest in the Guaranteed Income Optimizer, talk to your advisor and answer two key questions:
- How often would I like to be paid?
- How much should each payment be?
Then sit back and let your savings repay you.
The GIO supports the Scotiabank Student GIC Program.
If you choose to purchase the Guaranteed Income Optimizer in your TFSA, you should be aware of the current TFSA maximum contribution room to avoid tax penalties
This interest rate is for demonstration purposes only. For current rates, please refer to your Scotiabank branch.
Interest: Interest is accrued daily on your Guaranteed Income Optimizer (GIO) from the issue date up to, but not including, the maturity date. During a leap year interest is earned on the leap day. The last interest payment is paid at maturity. If the maturity date does not fall on a business day, the term of the GIO will be extended to the next business day and interest will be paid up to but not including that date Interest is not compounded. Interest will be paid to you together with your principal in a fixed series of payments in accordance with the payment schedule you have selected. For current rates please refer to your Scotiabank branch.
Redemption: The GIO is not redeemable prior to maturity except in the event of the owner's death. In such a case, all interest earned up to but not including, the date of redemption will be paid.
Currency: The Guaranteed Income Optimizer is only available in Canadian Dollars.