Make your money earn interest—then earn money on the interest.
Reach your savings goal
With the right initial contribution and interest rate, a fixed-term CIC gives you a guaranteed return. No ongoing calculations needed.
Choose from flexible compounding options
A CIC allows for interest to be paid onto the investment at a monthly, quarterly or annual frequency—rather than in a lump sum at the end of the term.
Compound your earnings
If you choose to re-invest your interest in your CIC (rather than taking it as a payout), you'll continue earning interest on your interest.
Frequently Asked Questions
Yes, you can. A CIC can be held as a joint investment between two co-signers.
You can't hold a Compound Investment Certificate within a registered plan (such as an RRSP, RRIF, TFSA, or RESP).
A Compound Investment Certificate (CIC) works just like a Guaranteed Investment Certificate (GIC)--with a few differences. Both types of certificate offer guaranteed returns on your investment.
With a CIC, you earn compound interest, which means that you earn interest on your reinvested interest, not just on your principal (the original amount you invested).
And while some GICs are cashable or redeemable before their terms end, you can't get early access the principal in a CIC.
You can, however, access your interest payouts early with a GIC. If you want to withdraw the money instead of reinvesting it to earn more (compounded) interest, that's an option.