Guaranteed Investment Certificates (GIC)
Sometimes, investment security and protection trumps high interest rate opportunities. In those cases, you might wish to purchase a Guaranteed Investment Certificate (GIC).
A GIC is a special type of deposit, for a specific term, that offers fixed interest rates. Because of its low risk profile, a GIC will often have a low interest rate. However, both your principal and the interest accrued are guaranteed.
What you need to know:
- Terms are offered up to 10 years.
- Interest can be paid out monthly, quarterly, semi-annually, annually, or at maturity.
- Options are available with GICs including Installment Based GICs and Escalating Rate GICs.
Call our expert team today to see if GICs are a good choice for your financial objectives.