How your 2018 Choose Alberta GIC one-time bonus is calculated
On the 15th day of the month before your GIC matures, we'll pull the Bank of Canada (BOC) Prime rate or the WTI price, depending on the option you selected. Your bonus is based on the rate or price on the date we review it, and based on the information in the tables below.
The one-time bonus, if applicable, will be paid out within 30 days of the maturity date.
One-time bonus rate payouts
See below for the one-time bonus rates for your maturing Choose Alberta GIC. The calculation to determine your one-time bonus payout is:
One-time bonus payout = orginal investment ✕ one-time bonus rate
Choose Alberta GIC—BOC Prime rate
| GIC maturity date | One-time bonus rate | BOC Prime rate report date | BOC Prime rate change1 |
|---|---|---|---|
| September 1-30, 2021 | 0.00% | August, 2021 | Decreased by 1.50% |
| August 1-30, 2021 | 0.00% | July, 2021 | Decreased by 1.50% |
| July 1-31, 2021 | 0.00% | June, 2021 | Decreased by 1.50% |
| June 1-30, 2021 | 0.00% | May, 2021 | Decreased by 1.50% |
| May 1-31, 2021 | 0.00% | April, 2021 | Decreased by 1.50% |
| April 1-30, 2021 | 0.00% | March, 2021 | Decreased by 1.50% |
| March 1-31, 2021 | 0.00% | February, 2021 | Decreased by 1.50% |
| February 1-28, 2021 | 0.00% | January, 2021 | Decreased by 1.25% |
| December 1–31, 2020 | 0.00% | November, 2020 | Decreased by 1.25% |
Choose Alberta GIC—WTI oil price
| GIC maturity date | One-time bonus rate | WTI oil price report date | WTI oil price |
|---|---|---|---|
| September 1-30, 2021 | 0.75% | August, 2021 | $67.73 |
| August 1-30, 2021 | 0.75% | July, 2021 | $72.49 |
| July 1-31, 2021 | 0.75% | June, 2021 | $71.38 |
| June 1-30, 2021 | 0.75% | May, 2021 | $65.17 |
| May 1-31, 2021 | 0.50% | April, 2021 | $61.72 |
| April 1-30, 2021 | 0.50% | March, 2021 | $62.33 |
| March 1-31, 2021 | 0.50% | February, 2021 | $59.04 |
| February 1-28, 2021 | 0.50% | January, 2021 | $52.00 |
| January 1–31, 2021 | 0.00% | December, 2020 | $40.94 |
| December 1–31, 2020 | 0.00% | November, 2020 | $39.40 |
How your one-time bonus rate is determined
Here's how we determine the one-time bonus for your Choose Alberta GIC.
Choose Alberta GIC—BOC Prime rate
| Prime rate change1 | One-time bonus rate |
|---|---|
| No increase or Prime decreases | 0% |
| 0.01%–0.75% increase | 0.50% |
| 0.76%–2.00% increase | 0.75% |
| More than 2.00% increase | 1.00% |
Choose Alberta GIC—WTI oil price
| Oil price | One-time bonus rate |
|---|---|
| Less than or equal to $50 | 0% |
| $50.01–$65.00 | 0.50% |
| $65.01–$85.00 | 0.75% |
| $85.01 or greater | 1.00% |
FAQ
The 2018 Choose Alberta GIC was sold between September 8, 2018 and May 31, 2019.
It was available in a Tax-free Savings Account (TFSA), Registered Retirement Savings Plan (RRSP), non-registered Guaranteed Investment Certificate (GIC) and business GIC.
Only the 27-month term was available for the 2018 Choose Alberta GIC.
The one-time bonus payment will appear as an AB GIC Cr Bonus Interest alongside your maturing Choose Alberta GIC on your statement.
Questions on what to do next?
Whether you’d like to invest in another GIC or to get expert advice on other ways to use this money to meet your goals, our knowledgeable team can help.