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Guaranteed Investment Certificates (GIC)
Why choose a Scotiabank GIC?
When you invest in a GIC you’re guaranteed to get your principal investment amount back.
Plus, traditional GICs offer a fixed interest rate so you know how much you’ll earn.
Special GIC Rates
Stay safe and secure
Your principal investment amount is 100% guaranteed.
Customize your solution
You can choose the term you want, a fixed or variable interest rate and you can even opt to lock in your money or access it at anytime.
Save on taxes
Reduce taxes by holding your GIC within a Registered Plan, such as your Registered Retirement Savings Plan (RRSP) or your Tax-Free Savings Account (TFSA).
Types of GIC
Non-Redeemable GICs
Take your savings to the next level.
Cashable GICs
Get a guaranteed rate and the flexibility to cash out.
Market Linked GICs
Leverage the power of the stock market while keeping your investment safe.
Personal Redeemable GICs
Have the flexibility to access funds partially or fully as you need them.
How do I choose the right GIC for me?
The right choice of GIC depends on your financial situation, investment goals and time horizon. Please see below for a comparison of our GIC types:
For example, if you are saving for a new car, a Cashable or Personal Redeemable GIC is a better choice because you have the flexibility to redeem your cash anytime.
In general, less access to your funds will mean higher interest return. Cashable is the most accessible GIC, but will have relatively lower interest rate vs. Market Linked GIC that is least accessible but carries the highest potential interest return.
| Key feature and needs | Cashable GIC/MPSA | Personal Redeemable GIC | Non-Redeemable GIC | Market-linked GIC |
|---|---|---|---|---|
| Investor’s need | Accessibility coupled with competitive rate | Accessibility coupled with competitive rate | Earn a guaranteed rate of return | Keeping pace with inflation |
| Principal protection |  |
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| Flexibility | |
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— | — |
| Higher returns | — | — | |
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| Return Guaranteed | |
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| Exposure to market | — | — | — | |
Build a plan for your future with Scotiabank
Get personalized advice from our team of advisors and investment specialists across Canada.
Connect with us in a way that’s convenient for you. Scotia advisors are available in every branch to help you understand, plan, and execute the right financial plan.
Monitor your investments digitally with online and mobile banking. Our digital banking guides show you how to take care of your banking using your mobile phone, tablet, or computer.
Online appointment booking
A quick, easy, and secure way to connect with a Scotiabank advisor matched to your needs.
Have a question?
We’re ready to give you advice.
Frequently Asked Questions
Interest is accrued daily on your GIC from the issue date up to, but not including, the maturity date. Also, interest will be paid/compounded for the leap day in a leap year. Where an actual interest rate is disclosed, it is an annual interest rate if held to maturity.
The Bank of Nova Scotia, Scotia Mortgage Corporation, Montreal Trust Company, and National Trust Company each issue these Special Rate GICs. We reserve the right to change, extend or cancel these offers at any time without prior notice. A $500 minimum investment is required. A maximum investment of $5,000,000 per customer.
Special Rate GICs: GIC special rates apply only to non-redeemable GICs with the associated terms shown above and are not applicable to other GICs. This is the annual interest rate if held to maturity. These Special Rate GICs are available within registered, non-registered and TFSA portfolios. Interest is accrued daily on your GIC from the issue date up to, but not including, the maturity date. Also, interest will be paid / compounded for the leap day in a leap year. For Scotiabank GICs that pay interest during their term (monthly, semi-annually or annually) the last interest payment is paid at maturity. If the maturity date does not fall on a business day then the term of the GIC will be extended to the next business day and interest will be paid to that day. These Special Rate GIC offers are not to be used in conjunction with any other rate bonus or discretionary offers.