The name says it all: Guaranteed Investment Confirmations (GICs) provide guaranteed rates of interest.
With interest rates generally higher than most bank savings accounts, GICs are purchased for 1 to 5 year terms.
Visit ingdirect.ca for current rates.
ING Bank of Canada GIC Features
- Eligible as both Open and RSP
- No minimum/maximum deposit restrictions
- Redeemable before maturity at the early redemption rate set on date of issue
- Interest paid by EFT or compounded to maturity
- Automatic investment renewal available
- 15-day rate guarantee
- No fees