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Trending searches| Currency | CAD and USD |
|---|---|
| Term options | 1 year |
| Interest payment options | When you withdraw funds 1 at maturity every month1 |
| Minimum investment amount | $500 $5,000 if you choose to receive monthly interest payments |
| Withdrawal | Any time during your term1 |
| Additional details |
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A cashable GIC is a secure investment that guarantees your principal and interest rate while giving your business access to its money. Scotiabank Cashable GICs have a one-year term and can be redeemed after 30 days. If you redeem your GIC within the first 30 days, you won’t earn any interest.
You can redeem a Scotiabank Cashable GIC after 30 days and earn interest for the time your money was invested. If you redeem it within 30 days of the issue date, no interest is paid. If interest has already been paid, some or all of it may be deducted from the amount you receive when you redeem your GIC.
Both options protect your principal and offer a guaranteed rate of return. A cashable GIC gives your business access to its money before the term ends. A non-redeemable GIC requires you to keep your money invested until maturity. Because you give up some flexibility, a non-redeemable GIC may offer a higher interest rate.
Cashable GICs are fully redeemable at any time. The minimum withdrawal amount is $500, and the remaining balance must be at least $500. If redeemed within 30 calendar days of the issue date, no interest is paid. Please speak to your branch advisor for more details.
