Sign In
Sign
In
Guaranteed Investment Certificates (GIC)
Worrying about your finances shouldn’t keep you up at night. Choose the worry-free investment.
What is a GIC?
A Guaranteed Investment Certificate (GIC) is a type of term deposit. When you purchase a GIC, you are loaning money to the financial institution which issued the GIC (the issuer). In return, you are guaranteed an interest rate for the term of the investment, as well as the repayment of your initial investment at the end of the term.
Why purchase a GIC?
When you invest in a GIC you’re guaranteed to get your principal investment amount back.
Plus, traditional GICs offer a fixed interest rate so you
know how much you’ll earn.
Featured GIC Rates
4.75%1
On a 24-month
term
(annual
rate)
Personal Redeemable GICs
5.90%1
On a 2-year
term
(annual
rate)
Non-Redeemable GICs
5.50%1
On a 4-year
term
(annual
rate)
Non-Redeemable GICs
15.00%** up to 55.00%†
Over a 5-year
term;
not an
annual rate
Market Linked GIC
What to consider before investing in GICs
- Fixed-rate GICs guarantee a fixed return for a specified period. Equity-linked GICs have returns linked to one or more stock market indices for higher growth potential. Foreign currency GICs and term deposits are investments held in foreign currency.
- You get to choose how long you want to invest your money for. It can be days, months or years, depending on your needs and investment goals. The longer the term, the more interest you may earn.
- You can choose a cashable or redeemable GIC, if you want the flexibility of cashing out early before the end of the term.
With a GIC, 100% of your original investment is guaranteed
Both your principal and interest payments are guaranteed, so you don’t need to worry about changes in the markets or the economy.
Stay safe and secure
Your principal investment amount is 100% guaranteed.
Customize your solution
You can choose the term you want, a fixed or variable interest rate and you can even opt to lock in your money or access it at anytime.
Save on taxes
Reduce taxes by holding your GIC within a Registered Plan, such as your Registered Retirement Savings Plan (RRSP) or your Tax-Free Savings Account (TFSA).
Looking for a GIC that meets your needs?
Explore our most popular products and discover a GIC that’s right for
you. Our investment advisors can help you select an investment product
and show your expected returns.
You can start by speaking one of our investment advisors, answer a few
questions and we'll give you a recommendation that is designed to suit
your needs.
Types of GIC
Non-Redeemable GICs
A non-redeemable GIC is a type of investment product – specifically, a type of GIC (guaranteed investment certificate) – that can't be redeemed or cashed in until its agreed maturity date. GICs are low-risk investments.
Cashable GICs
A Cashable GIC can be a great investment for
short and long-term goals, like saving for a
major purchase, wedding costs, and retirement
because you get the guaranteed rate of return
for the period of your term, plus you can get
access to your funds at prescribed early cashing
rates.
Market Linked
GICs
Leverage the power of the stock market while
keeping your investment safe.
Personal Redeemable
GICs
Have the flexibility to access funds partially or
fully as you need them.
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.
