Redeemable GIC

Because seizing an opportunity can bring a project to life

This GIC is redeemable at any time with an interest rate payable based on the length of the investment. This product is perfect for investors who know they will need cash but not exactly when.

Quick view

NON-REGISTERED


Minimal Investment

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Term

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Rate

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All terms and rates

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RRSP


Minimal Investment

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Term

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Rate

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All terms and rates

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TSFA


Mnimal Investment

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Term

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Rate

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All terms and rates

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Additional information
 

Non-Registered

Interest payment options

Monthly: Calculated and payable on the deposit date ($1,000 minimum investment).
Semi-annually: Calculated and payable on the deposit date ($1,000 minimum investment).
Annually: Calculated and payable on the anniversary date.
Interest paid: At maturity (for terms under 1 year).

N.B.: Only the annual interest payment option is available when an investment is made online.
 

Access to funds

Redeemable before maturity.
Reduced interest rate applied to the portion of the principal redeemed. This rate will be based on the term elapsed as posted at the branch. No interest is paid if the GIC is redeemed during the first 30 days after the issue date.
Partial redemption allowed before maturity (except for GICs in registred plans): In $1,000 portions as long as a minimum balance is maintained:

   $1,000 minimum balance for GIC with a term of 1 year or more.
or
   $5,000 minimum balance for GIC with a term of less than 1 year.

 


The interest rates posted are the interest calculated annually. For monthly interest, the rate is reduced by 0.125%. For semi-annual interest, the rate is reduced by 0.05%.

RRSP

Interest payment options

> Compounded annually on the anniversary date and payable at maturity.
> For terms under 1 year, payable at maturity only.
 

Transferability

Can be transferred from an RRSP to a RRIF.
 

Access to funds

> Redeemable before maturity.
> Reduced interest rate applied to the portion of the principal redeemed. This rate will be based on the term elapsed as posted at the branch. No interest is paid if the GIC is redeemed during the first 30 days after the issue date.
Full redemption only.

 


The interest rates posted are paid at maturity (compounded annually).

TFSA

Interest payment options

Interest paid annually or at maturity date.
 

Transferability

Non-transferable.
 

Access to funds

Redeemable before maturity.
> Reduced interest rate applied to the portion of the principal redeemed. This rate will be based on the term elapsed as posted at the branch. No interest is paid if the GIC is redeemed during the first 30 days after the issue date.
> Partial redemption allowed before maturity: In $500 portions.

> The interest rate is fixed for the entire term.

> Authorization to renew at maturity for Non-Registered products: 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* 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.

> To know the charges related to a RRSP or TFSA, please consult the brochure to this purpose, being: Fees - Your Guide to Personal banking Solutions, section "Registered Plans".

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


  * Equivalent to the initial to the initial term or any other term available within the product chosen and specified by the depositor.

> To know our process of notification of charge increases or the introduction of new fees, please consult the brochure to this purpose, being : General Information and Agreement, section " Notice of Changes to Fees Listed in Your Guide to Personal Banking Solutions".

> Processus d'examen des réclamations relatives au traitement des frais à payer pour un produit REER.

> To know our process in dealing with complaints relating to the processing of charges for a RRSP or a TFSA product, please click here.

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

 

 

Find out more 

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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.

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RRSP ot TFSA?

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

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