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Personal Redeemable GICs
What is a Personal Redeemable GIC?
Personal Redeemable GIC allows you to earn a guaranteed rate*. You can access your investment partially or fully at a pre-determined rate as your financial needs arise.
Secure growth in all plans
Flexibility to invest in a registered or non-registered plan based on your financial needs
Access to funds
Regardless of what happens in the market or in your financial journey, you can cash in early at a pre-determined rate
Competitive Rates*
Interest will be calculated from day one of holding the deposit with the bank
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
- You want to be able to redeem part or all of your principal at a pre-determined interest rate
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
Guaranteed rate of return with full access at any time
Terms listed are available for a limited time.
4.00%
24 months
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 |
| Principal protection |  |
|
|
|
| Flexibility | |
|
— | — |
| Higher returns | — | — | |
|
| Return Guaranteed | |
|
|
|
| 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.
Additional information
- Minimum investment of $500
- Interest paid annually or at maturity*
- Contact your Scotiabank branch to find the flexible terms available today
- Available in Canadian currency only
Perfect for customers
- Who may need cashflow in the near future
- Who want a customized and guaranteed solution
- Who have flexibility and liquidity in their financial portfolio
- Who want to hold funds while they search for their perfect home or plan their wedding
The Investment Companion Booklet and Terms & Conditions includes important information about our products, services, and fees. For GIC rates and term options click here.
Scotiabank - INVESTMENT COMPANION BOOKLET
N/A | pdf : 725
KB
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*
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.