A fixed-term, cashable investment with guaranteed returns.
Grow your funds
Deposit your money for a defined period of time and earn a predictable return—it's investing with minimal risk.
Your original investment amount (principal) and return are fully guaranteed, so you don't need to worry about a fluctuating stock market.
Have easy access
Withdraw money at any time with no penalty, offering you the flexibility to meet unforeseen expenses or financial emergencies.
Key product details
Frequently Asked Questions
Yes, you can. The Personal Cashable GIC can be held jointly as the non-registered investment under multiple names.
You can invest with a non-registered Personal Cashable GIC, or you can go for one of our registered investments by investing in a TFSA or RRIF. The TFSA and non-registered Personal Cashable GIC are available for 1 year terms, and the RRIF is available for terms between 1-5 years. How you choose to invest all depends on your goals.
When you withdraw your Personal Cashable GIC, your interest will be calculated based on the length of time you’ve invested in your GIC. There are some things to keep in mind as well depending on if you’ve invested in a non-registered or registered (TFSA or RRIF) investment.
Non-Registered (See current rates)
If you’ve invested in a non-registered GIC, the interest you’ve earned is taxable, even if cashed in before the maturity date.
TFSAs (See current rates)
If you have a TFSA, any money earned or withdrawn is non-taxable—that is, all interest, dividends or capital gains earned are tax free. If you withdraw an amount from our TFSA, you can re-contribute that same amount the following year or any year after that.
RRIF (See current rates)
With an RRIF, you'll be making annual withdrawals. While there are regulations governing the minimum amount you must withdraw, the actual amount will depend on a variety of factors. ATB advisors can help you make the right decisions. Amounts withdrawn in excess of the minimum amount will be subject to withholding tax at the same rates applicable to RRSP withdrawals.
When you cash a GIC, you get your principal back along with interest earned at the GIC's standard rate. That means that if you have a GIC designed to be 'cashable' before the end of its term, your principal earns full interest for as long as the money remains in your GIC for the required term.
Some cashable GICs have restrictions on specific portions of your term during which you can access your funds at the full rate of return.
When you have a GIC designed to be 'redeemable' before the end of its term, you can still get your full principal back, but with interest earned at a lower rate than if you left your principal in the GIC for the full term.
Redeemable GICs are typically redeemable in any point—though how soon you redeem your principal may affect how much interest you earn.
You can certainly use both an RRSP and RRIF in your investment journey. What you should be aware of is that your RRSP has to be closed by December 31 of the year you turn 71. What should you do with your investment then?
Convert your RRSP into a RRIF to avoid a large tax bill and to start enjoying your retirement. While the required minimum annual payment needs to be taken out, your money still accumulates tax-free until it's withdrawn and if you choose the Personal Cashable GIC RRIF, you get the safety and security that come with investing in a GIC. The full amount of your original investment amount (the principal) and the interest you earn are fully guaranteed.
Rates are variable and dependent on the term and interest frequency you select. Rates are subject to change without advance notice.
$100 for Generation Account holders. For all other investors, $500 for registered investments and $1,000 non-registered.
The $6,000 TFSA annual contribution limit is effective January 1, 2019. Check out previous limits to see what you qualify for. How much you can contribute also depends on when you turned 18.
If you have an RRIF, your investment is cashable for the required minimum annual RRIF payment and lump sum payments for retirement use.
A one year term is only available for non-registered and TFSA, RRIF has more terms available.