Guaranteed Investment Certificates (GIC)

A GIC is a deposit investment which is issued for a fixed term and rate.  The Principal and Interest are guaranteed up to $100,000.00 per name, per institution.  GIC’s are also known as term deposits and are an extremely safe method of investing for the conservative investor. 

With GIC’s you have several choices with Long-Term, Short-Term or Cashable GIC's.

A Long-Term GIC is purchased from 1 up to 5 years and cannot be redeemed until maturity. You can receive annual, semi-annual, monthly or annual compound interest payments.

A Short-Term GIC cannot be redeemed prior to maturity and the investment period ranges from 40 to 364 days.

A Cashable GIC usually has a lower interest rate than the non-cashable GIC’s because after a specified period of time this investment can be cashed out prior to maturity without penalty. If not cashed out these investments can be 1 or 2 years in duration.

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