What are the differences between types of GICs?
The different types of GICs and their features are:
- 6 months - Annual interest rate, redeemable after 180 days
- Cashable - Redeemable prior to maturity, interest paid annually
- Annual - Annual interest rate, annual pay-out, non-redeemable before maturity
- Annual Compound - Annual interest rate, interest compounded annually and paid at maturity, non-redeemable before maturity
- Semi-Annual - Annual interest rate, semi-annual pay-out, non-redeemable before maturity
- Monthly - Annual interest rate, monthly pay-out, non-redeemable before maturity
- US$ Pay - Annual interest rate, US currency purchase and pay-out, non-redeemable before maturity
Last updated May 22, 2024