Guaranteed Investment Certificates (GICs)
What are they ?
GICs are secure investments that guarantee to preserve your principal. Your investment earns interest, at a fixed rate that is current at the time you make the investment.
With a GIC, your principal investment is safe and the rate of return is guaranteed for the term of the investment, so you don't need to worry about how market fluctuations might affect your investment. They are RSP eligible
They play an important role in a balanced portfolio because of the security they offer. GICs provide a secure way to save for short-term goals, a vacation, or for longer-term plans, like buying a house or retirement (inside an RRSP, or just a savings plan). Either way, a GIC is a sound investment option. Designed for you to automatically save regularly and pays the same guaranteed rate as you accumulate funds.
