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Guaranteed Investment Certificate
A GIC is a low risk investment that guarantees the rate of return so you won't lose your money. It is like a savings account that earns interest but you have to leave the money in the account for specific period of time.
Things to Know:
- Minimum $500 investment
- Terms range from 1 - 5 years
- Interest may be paid monthly or annually
A cashable GIC has a 1 year term but is cashable after 30 days with no loss of interest. If you cash it in prior to 30 days then no interest is paid.
| Terms |
Features |
| 1-4 Years |
Non-redeemable prior to maturity |
| 18 Month | Non-redeemable prior to maturity |
| 5 Yr 20/20 |
Allows for 20% of the original investment amount to be redeemed on the anniversary date |
- Minimum $1,000 investment
- Non-redeemable prior to maturity date
- Available in terms of 30, 60, 90, 180, and 365 days