Guaranteed Investment Certificates (GIC)
Guaranteed Investment Certificates or GICs are typically short-term investments, offering a guaranteed rate of return over a fixed period of time. GICs regularly have a lifespan of 6-month, 1, 2, 3, 4, 5 or 10-year terms. Interest rates range, depending on the length of term. Due to its low-risk profile, GICs are a popular choice among individuals making a first-time investment.
As with other investments, there are a range of products to consider when choosing the GIC that best suits you and your financial situation:
- Redeemable
- Redeemable GICs are “cashable”, meaning that you can cash them in before maturity. This provides you with a great deal of flexibility over your investment and complete access to your funds whenever you want. Stand-Up Advisor provides the most competitive rates on a wide range of Redeemable GICs for you to choose from. Contact us to book your appointment today.
- Non-Redeemable
- Non-Redeemable GICs are ideal if you don’t need to access your funds before maturity. As with Redeemable GICs, Stand-Up Advisor can provide you with the most competitive rates on a variety of GICs upon consultation.
- Index and Market-linked GICs
- Index or Market-linked GICs have their interest rates determined by the rate of growth of a specific market and have the potential to offer a much higher rate of return than other GICs when market conditions are favourable. While they differ from Redeemable and Non-Redeemable GICs in how the rate of return is determined, Index and Market-linked GICs are guaranteed, just as other GICS are, making them a low-risk investment option. Contact Stand-Up Advisor to find out what kind of stock options are available to you.
Which GIC is right for me?
To ensure you are making an informed decision, it’s important to get a professional assessment by a financial advisor before investing in GICs or any other financial product.
In short, GICs are ideal for:
- Short-term investments
- Investors who want a guaranteed investment
- First-time investors
GICs are available as registered or non-registered investments, and are RESP, RRSP and RRIF eligible.
Why Stand-Up Advisor?
At Stand-Up Advisor, we offer highly competitive rates for all GIC investments coupled with a complete financial needs-based analysis, so that we can help you determine what kind of GIC is right for you.
As an independent financial consulting firm, Stand-Up Advisor is not bound by exclusivity contracts. This allows us to do two things: 1) Gain access to all available products 2) Compare and offer the most competitive rates.
Get the most competitive rates with financial advising you can trust. For more information on GICs, or to book a consultation, contact us today.
