Is this Guaranteed Investment Certificate (GIC) right for you?
Right for you if you:
- Prefer a low-risk investment with principal and interest rate guaranteed
- Want to be able to access your funds after 30 days without penalty
May not be right for you if you:
- Unlikely to need access to your funds for the term of the GIC
- Are willing to give up a guaranteed rate of return and principal protection in exchange for the potential to earn more
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:
|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|
|Exposure to market||—||—||—|
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.
- One year term GIC’s that can be renewed automatically on maturity.
- Minimum investment of $500 ($5,000 for monthly interest payments).
- Available as part of an RRSP, TFSA, RESP, RDSP or Non-Registered portfolio.
- Interest paid monthly or at maturity*.
The Investment Companion Booklet and Terms & Conditions includes important information about our products, services, and fees. For GIC rates and term options click here.