1 / 3

Guaranteed Investment Certificate GIC

Guaranteed Investment Certificate GIC. A GIC is a savings certificate sold by the banks A GIC guarantees a fixed interest rate (whereas interest rates may go up or down in your savings) that is usually compounded over time. GIC’s. The Advantage

rhea
Download Presentation

Guaranteed Investment Certificate GIC

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Guaranteed Investment CertificateGIC • A GIC is a savings certificate sold by the banks • A GIC guarantees a fixed interest rate (whereas interest rates may go up or down in your savings) that is usually compounded over time

  2. GIC’s • The Advantage • A GIC is a safe investment because your principle is insured by the bank. • The Disadvantage • There is usually a term of 3 to 5 years before maturity. You cannot take your money before this time without a penalty.

  3. GIC • Investors usually buy GIC’s when saving for a large future expenditure and they don’t need to use the money for then • i.e. buying a car, a house, paying tuition

More Related