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Guaranteed Investment Certificates

Guaranteed Investment Certificates (GICs) are ideal investments if you want to invest for a specific term at a guaranteed rate without risking your initial investment. Your investment earns interest, at either a set rate, or based on a market-linked formula. In general, GICs with longer terms earn higher interest rates. GICs often form the foundation of a well-balanced portfolio.

GIC Benefits:

  • Security and safety—both your original investment and interest rate are guaranteed.
  • Competitive interest rates—guaranteed for the full term of the investment.
  • Flexible investment terms—ranging from 30 day to five, seven or 10 years.
  • Choice of interest payment frequencies.
  • Eligible for registered investment plans.

Key Features of GICs:

Two types for greater flexibility
  • Guaranteed-return GICs guarantee that your money will grow as expected.
  • Market-linked GICs offer you the growth potential of the stock market while guaranteeing your principal.

Redeemable – Redeemable GICs (term deposits) may be redeemed prior to maturity. A lower interest rate applies to early redemptions.

Non-redeemable – Non-redeemable GICs are not redeemable prior to maturity except in exceptional circumstances.

Potential Creditor Protection – With proper beneficiary designation it is possible to achieve some creditor protection. The creditor protection feature is particularly useful for business owners and professionals, as added security against the claims of creditors.

Ask for details on how designating certain beneficiaries could potentially enhance your level of security against creditors.