GIC

  • categories: Deposits

    Guaranteed Investment Certificates (GICs) are fairly popular in Canada. As an investing method, they’re among the lowest risk methods available in Canada. GICs are insured in their principal amount, as well as in the interest that they accrue. This makes them a solid option for investors with lower risk-tolerance profiles that prefer conservative, safe investment options. But how does a GIC work exactly?

  • categories: Deposits

    If you own a house or a car, there’s a good chance you also own insurance. Saving and investment accounts issued by banks also come with insurance, except it doesn’t cost you any money. This insurance is known as CDIC coverage. It is issued by a federal Crown corporation called the Canada Deposit Insurance Corporation.

  • July
  • categories: Deposits

    When your TFSA and RRSP are maxed out and you’re looking to avoid penalties, try two trusty non-registered savings vehicles: high-interest savings accounts and guaranteed investment certificates (GICs). These savings tools don’t have any contribution limits or penalties. And they can help you keep your money safely saved while you wait for more contribution room to open up in your TFSA and RRSP on January 1st.

  • May
  • June
  • May
  • January
  • categories: Deposits

    Are you new to investing and looking to get a guaranteed return on your money? If that’s the case, you might be interested in GICs—short for guaranteed investment certificates.

  • categories: Deposits

    Canadian interest rates are on the rise, further evidenced by the Bank of Canada’s latest rate announcement that it was hiking its benchmark rate by ¼% to 1.25% last week. And while that comes as bad … Read More

  • December
  • November
  • categories: Deposits

    You might have read a lot of articles about saving for a car that are really judgy. This won’t be one of them.