Guaranteed Return GICs

Redeemable GICs

A redeemable GIC allows early cashing out and redeeming of funds.† Because these GICs offer flexibility and liquidity the interest rates are lower than those offered on non-redeemable GICs.

Preauthorized Purchase GICs

These GICs require a lump sum investment that can be as low as $500. Preauthorized contributions are taken from the investorís bank account on a regular basis to add to the principal of the GIC. These contributions can be as low as $10 weekly, introducing the element of discipline to saving.

Escalating GICs

An escalating GIC increases interest rates on its anniversary date. Interest payment options include simple interest that is paid annually and interest that compounds annually and is paid at maturity. Even if the interest is not paid in any one year to the investor, it is declared for tax purposes, and tax must be paid on the interest for that year.

A variation on this form of GIC allows the investor to cash out some or all of the funds on each anniversary date or a specified number of days thereafter.

Compound Interest GICs

When returns compound, interest is paid on interest. Compounding is a powerful investment strategy. GICs that pay compound interest will pay interest on interest over the term of the investment. Returns will be higher than if a simple interest rate is used.

U.S. Dollar GICs

U.S. dollars form the basis of the contribution, and on maturity, principal and interest are returned in U.S. dollars.

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Best GIC Rates

1 Year 1.05%
2 Year 1.35%
3 Year 1.85%
4 Year 2.00%
5 Year 2.05%

Investment Calculators


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