Through our GIC brokerage, we offer access to Canada's largest GIC issuers, so you can be assured you are getting the best rates possible.
Guaranteed Investment Certificates are secure investments that guarantee to preserve your money. Your investment earns interest, at either a set or a variable rate, or based on a market-linked formula. Most portfolios should include some proportion of secure investments such as GICs to balance the more aggressive investments. There are three types of GICs for greater flexibility: Guaranteed-return GICs guarantee that your money will grow as expectedInterest rate-linked GICs make it easy to benefit from any increase in interest rates without having to adjust your investments. Market-linked GICs offer you the growth potential of the stock market while guaranteeing your principal Guaranteed Investment Certificates may also be redeemable or non-redeemable. Redeemable GICs (term deposits) may be redeemed prior to maturity. A lower interest rate applies to early redemptions. Non-redeemable GICs are not redeemable prior to maturity except in exceptional circumstances.
Guaranteed Investment Certificates have many benefits which include:
- Security and safety—both your original investment and interest payments are guaranteed
- Competitive interest rates —guaranteed for the full term of the investment
- Flexible investment terms—ranging from one year to five years, seven years and ten years
- Choice of interest payment frequencies
- Eligible for registered investment plans
- AGF Trust
- Advisors Advantage Trust
- B2B Trust
- Bank of Montreal
- Bank of Nova Scotia
- Citizens Bank
- Dundee Bank of Canada
- Equitable Trust
- General Bank of Canada
- Home Trust Company
- HSBC Trust
- ICICI Bank Canada
- Invesco Trimark
- Laurentian Bank
- Manulife Bank
- Manulife Investments
- Maple Trust
- Montreal Trust
- MRS Trust
- NatCan Trust
- National Bank
- Pacific and Western Trust
- Peoples Trust
- ResMor Trust
- Royal Bank
- TD / Canada Trust
- Vancity Savings
From $1 to $100,000 Canada Deposit Insurance Corporation (CDIC) is a Federal Crown Corporation created in 1967 to provide depsoti insurance and contribute to the stability of Canada's Financial System. CDIC insures eligible deposits up to $100,000 (including principal and interest) pre depositor in each member institution.
Are all Financial Institutions members of CDIC?
No. Membership is limited to banks, trust companies, loan companies and associations to which the Cooperative Credit Association Act applies. Members must display this sign:
Are members of CDIC examined?
Yes. On behalf of CDIC, federally incorperated members are examined by the Superintendent of Financial Institutions. Provincially incorporated members are inspected by a person designated by CDIC, typically the institutions' provinical regulator or the Superintendent of Financial Institutions.
Can the CDIC membership list change?
Yes. Changes may include the addition of new members, name changes, amalgamations, and cancellations of deposit insurance. For information about how these changes may affect your deposit insurance, contact CDIC through its toll-free telephone information line or by e-mail.
Visit our Web site at www.cdic.ca
Call (toll-free) 1-800-461-2342
Fax 1-613-996-6095
E-mail info@cdic.ca
Or write to
Canada Deposit Insurance Corporation
50 O'Conner Street, 17th Floor
P.O. Box 2340, Station D
Ottawa, Ontario K1P 5W5
Consult the Protecting Yuor Deposits brochure, available at your member institution and on CDIC's Web site.
Ask your member institution for a copy of its deposit register that lists those of its products that are eligible for CDIC insurance.
Please Note that the list of members institutions is updated regulary and is available on CDIC's Web site or on request from CDIC.
THIS DOCUMENT CONTAINS GENERAL INFORMATION AND IS NOT INTENDED TO BE A LEGAL INTERPRETATION OF CANADIAN LEGISLATION RESPECTING DEPOSIT INSURANCE.
CDIC Member Institutions
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Credit Union
Deposit
Insurance Corporation
(CUDIC).
GIC’s that are purchased through credit unions are protected by the
Credit Union
Deposit
Insurance Corporation
(CUDIC).
The CUDIC
insures up to $250,000 is eligible deposits. Every active credit union
in Nova Scotia is required by legislation to be insured by
CUDIC.
Assuris protects deposits issued by life insurance companies. In order for a life insurance company to write insurance in Canada they are required to be a member of Assuris. If your life insurance company fails, your Accumulation Annuity policy (insurance equivalent of GIC) will be transferred to a solvent company. On transfer, Assuris guarantees that you will retain 100% of the Accumulated Value up to $100,000.
