A fully redeemable investment with guaranteed returns.
Grow your money
Deposit your money for a set period of time and earn a predictable return—it's investing with less risk.
Your original investment amount (principal) and returns 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. Withdrawals made before the end of your term may reduce the rate of return on your investment.
Frequently Asked Questions
Yes, you can. The Redeemable GIC can be held as a joint investment between two or more co-signers.
No, but you can invest in a Tax Free Savings Account, which offers similar ease of access to funds.
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.
Yes. Your original investment must be a minimum of $500 on terms 1 year or greater, or $1,000 on terms less than 1 year.
Find the retirement investments that work for you.
Rates can depend on the term and interest frequency you select.
$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.
RRIF and RRSP investments are available for 1-5 year terms.