Investment Savings

Springboard GIC®

A GIC with escalating interest, redeemable on each anniversary date.

Enjoy increasing interest rates

​Your interest rate increases each year of your term. The longer your money stays invested, the harder it works for you.

Rest easy

​​Your original investment amount (principal) and returns are fully guaranteed, so you don't need to worry about a fluctuating stock market.

Decide for yourself

​​​This GIC is redeemable on each anniversary date. So you decide if you’ll keep your money invested or withdraw it to get early access to your funds.

Key product details

Interest earned See current rates
(non-registered)
1

See current rates (registered)1
RRSP | TFSA | RESP
Term 3 or 5 years
Minimum investment $100, $500 or $1,0002
Redeemable On each anniversary date
Registered investment options TFSA3, RESP, RRSP

Frequently Asked Questions

Yes, you can. The Springboard GIC can be held as a joint investment between two co-signers when purchasing a non-registered GIC. RRSPs are available with individual or spousal plans. RESPs are available under individual or family plans (multiple beneficiaries). TFSAs are available under individual plans only.

Yes. You can hold a Springboard GIC within a government-registered investment plan (like a Tax-Free Savings Account (TSFA), a Registered Education Savings Plan (RESP) or a Registered Retirement Savings Plan (RRSP)). You'll pay no income tax on the interest you earn within a TFSA; and the interest you earn within an RESP or RRSP 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.

The Springboard GIC is redeemable in the event of the account holder's death—there's no need to wait for an anniversary of opening the GIC to redeem it. Interest will be prorated and paid up to the date redeemed, no penalty will be incurred for redeeming this GIC in the event of death.

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.

Ready to get started?

Make your money earn money with an interest rate that rises every year. Invest in a balanced portfolio with the security of a Springboard GIC.

Need help?

Our Client Care team will be happy to assist.

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