GIC
Estimate interest and maturity value based on principal, rate, and term (1–5 years). Educational only, not a live quote.
Why people use GICs
- Predictable returns with a fixed term
- Often used for short-to-medium-term goals
- Can reduce volatility in a broader portfolio
- Useful inside registered accounts (RRSP/TFSA/RRIF) or non-registered
What to watch for
- Locked-in vs cashable options
- How interest is paid (annually vs at maturity)
- Term length and reinvestment risk
- Tax impact in non-registered accounts