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Guaranteed Investment Certificates (GIC’s) are one of the safest ways to invest because money (up to a limit) invested in GICs is protected against loss.

GIC’s pay a set rate of interest for a set amount of time and the rate of maturity for a GIC can range from 30 days to 10 years. Most often, the longer the term, the higher the rate of interest you will receive. Some GIC’s offer flexible interest rates, linked to how certain stocks performs. So how do you find the right GIC for you? Here are some questions to consider:

  1. How long do I plan to invest? What is the possibility I will need my money early?
  2. How much do interest rates affect the amount of return on my GIC? How comfortable am I with some risk and worry about the rate of return on my investment?
  3. Am I able to make a monthly contribution to a GIC, or is it easier to do lump sums at different times?

GIC’s will not make your money grow in leaps and bounds, but they are a safe, steady way to invest. An Ecclestone Financial Group advisor would be happy to show you how a GIC can work for you. Call or email us today!