GIC Redeemable Without Penalty

Because it gives you access to your cash

This is the ideal product if you expect to need cash but don’t know exactly when. With this GIC, you know that your rate is guaranteed for the entire term. If you need cash during this period, you can redeem your GIC after 30 days (after six months for the two-year term), in whole or in part, without penalty. 

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Minimal Investment


Interest Rate





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All terms and rates

Select a term or a rate

Simple interest rates

Compound interest rates


Interest payment options

> Annually, calculated and payable on the anniversary date, or compounded annually on the anniversary date and payable at maturity.

Access to funds

> 12 and 14-month terms: Redeemable without penalty after 30 days.
> 24-month term: Redeemable without penalty after 6 months.
Interest payable will be calculated according to the number of days elapsed between the date of issue and the redemption date of this GIC. 
> Maximum of three redemptions permitted during the term.
> Minimum partial redemption of $5,000 permitted provided that the remaining principal is equal to or greater than the initial $500 investment.

> Authorization to renew at maturity: At maturity, unless otherwise notified by the depositor, the GIC and any renewal thereof will be renewed for the same amount (including accrued and unpaid interest) and for the desired term offered for the product originally selected at the interest rate in effect at that time. The depositor has 10 business days following the date of issuance of the renewed deposit type instrument to cancel it.

> National Bank is a member of the Canada Deposit Insurance Corporation (CDIC).

> To be able to contribute, you need a National Bank account. To open an account, please visit one of our branches.



Find out more 


RRSPs and taxes

Contributing to an RRSP allows you to reduce the fiscal impact of your investments. First by diminishing the amount owed in taxes for the RRSP contribution year, then by keeping the invested amount sheltered from taxation until retirement.

Reducing the taxes

Smiling African Businessman Using a Tablet


RRSPs and TFSAs were designed to meet different objectives. The RRSP is a vehicle to help save for retirement, while the TFSA was created to help save for more short-term projects, like buying a car.

See details


Planning your retirement

Does retirement seem a long way off? By starting early to save for your older age, you have time on your side to accumulate what you need to maintain your standard of living… Maybe until you’re 100!

My dream retirement