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Guaranteed Investment Certificates

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Guaranteed Investment Certificates
A Deposit instrument paying a predetermined rate of Interest for a specified term, available from banks, Trust companies and other financial institutions.
    
A Guaranteed Investment Certificate is a Canadian investment that offers a guaranteed rate of return over a fixed period of time, most commonly issued by Trust companies or banks. Due to its Low Risk profile, the return is generally less than other investments such as stocks, bonds, or mutual funds.
    
GICs can be Registered or Non Registered, and come in many forms, from conventional term deposits to market investments. GIC's regularly have life spans of 1, 2, 3, 4, or 5 year terms. At maturity they can be cashed as taxable income or renewed for another term. Usually, regular term deposits for financial institutions carry an Interest rate from 1-5% depending on the various factors, such as the length of the term and specified Interest rates from the Bank of Canada.
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