1. + 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

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