A hands-off investment with guaranteed returns.
Grow your money
Deposit your money for a set term and earn a predictable return at a competitive rate.
Sit back and relax
Your original investment amount (principal) and returns are fully guaranteed, so you don't need to worry about a fluctuating stock market.
Choose your own terms
This GIC is non-cashable during the investment term, so choose a term length that works for you—from 30 days to five years.
Key product details
|Limited Time Offer||Earn 1.55% on a 15-Month Non-Redeemable GIC, this applies to non-registered, RRSP and TFSA investments only*|
|Interest earned|| See current rates
See current rates (registered)1
RRSP | TFSA | RRIF | RESP
|Term||30 days - 5 years|
|Minimum investment||$100, $500 or $1,0002|
|Redeemable during term||No|
|Registered investment options||TFSA, RESP, RRSP, RRIF|
Frequently Asked Questions
Yes, you can. The Non-Redeemable GIC can be held as a joint investment between two or more co-signers.
Yes. You can hold a Non-Redeemable GIC within a government-registered investment plan (like a Tax-Free Savings Account (TFSA), a Registered Education Savings Plan (RESP), Registered Retirement Savings Plan (RRSP), or Registered Retirement Income Fund (RRIF)). You'll pay no income tax on the interest you earn within a TFSA; and the interest you earn within an RESP, RRSP or RRIF is tax-deferred, which means you pay income tax on it only when you withdraw it.
Based on the plan you're investing within, maximum investment amounts may apply.
Even though this is called a "non-redeemable" GIC, it can be redeemed in the event of the holder's death—even if the term hasn't ended.
Rates can depend on the term, interest frequency and investment option you select and are subject to change without notice.
$100 for Generation Account holders. For all other investors, $500 for terms 1 year or greater and $1,000 for terms less than 1 year.
* Offer and rates are current as of May 11, 2020. Rates are per annum, calculated annually and paid at maturity.
If you need access to funds, under our COVID-19 Customer Relief Program, you can cash out the full balance of any non-redeemable GIC prior to the maturity date. We will waive the $200 early redemption fee and the redemption interest rate will be redeemed at 0%, not the full certificate rate.
Rates apply to non-registered, RRSP and TFSA investments.
Maximum contribution limits may apply for RRSP and TFSA investments.
Tax implications may be associated with this offer. Please consult with your tax advisor about your situation.