Evoluterm GIC

Ladder your GICs and watch your returns climb

At a glance

What is an Evoluterm GIC?

You principal is split into three or five equal portions that are invested in different GICs. By staggering maturity dates, you can access part of your funds each year. Portions with a longer term earn interest at a higher rate, increasing your average return.

Perfect if you are looking to:

Split your investment into portions with staggered maturity dates
Take advantage of competitive rates
Invest for three to five years

Rate: Fixed

Minimum investment: $2,500 ($500 per portion)

Access to funds: No

Investment horizon: 3 and 5 years

GIC options

Decide whether you want a registered or non-registered GIC, then select a term and interest type.

Term	Plan	Minimum investment	Rate	Interest type	Get this GIC
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Our advisors can help you choose the GIC that's right for you.

Make an appointment

Little details that matter

Non-registered plan

Interest payment options

Monthly: calculated and payable based on the date the investment was issued ($2,500 minimum).
Twice a year: calculated and payable based on the date the investment was issued ($2,500 minimum).
Annually: calculated and payable based on the date the investment was issued, or compounded annually based on the date the investment was issued and payable at maturity.

For GICs purchased online, interest will only be paid annually.

Access to funds

Non-redeemable until the maturity date for each portion.
Individual portions can be cashed in at maturity.
Any amount that you don't cash in will be automatically reinvested for another 3 or 5-year term to take advantage of higher long-term rates.

RRSP

Interest payments

Compounded annually on the investment date and payable at maturity.

Transferability

Cannot be transferred to an RRIF.

Access to funds

Non-redeemable until the maturity date of each portion.
Individual portions can be cashed in at maturity.
Any amount that you don't cash in will be automatically reinvested for another 3 or 5-year term to take advantage of higher long-term rates.

Posted rates are for interest calculated annually. For monthly interest, the rate is reduced by 0.125%. For interest paid twice a year, the rate is reduced by 0.05%.

Additional information

Interest is calculated annually.

Automatic renewal: Unless otherwise instructed, we will automatically reinvest your funds at maturity in a GIC with a term of one year, at the prevailing rate. The new GIC cannot be cashed in before the new maturity date. You will have 10 business days after the new GIC is issued to cancel the renewal.

For information on fees related to RRSPs and TFSAs, refer to our Fee Guide [PDF].

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

For information on our rate increase or new fee notification procedure, refer to our Fee Guide [PDF].

For information on the procedure for submitting claims regarding product fees, click here.

To invest online, you need to have a bank account with National Bank. Don't have an account? Contact a National Bank branch.

Legal Disclaimers

1. The Diversified GIC – Stability, Series 64, Investors Category ("Diversified GIC – Stability"), the Diversified GIC – Balanced, Series 64, Investors Category ("Diversified GIC – Balanced") and the Diversified GIC – Performance, Series 64, Investors Category ("Diversified GIC – Performance") (or the "Diversified GICs") are not conventional fixed-income instruments, are not suitable for all investor types and carry some risk. Potential investors should consult the relevant fact sheet before investing. The Bank has issued previous series which may have different terms and conditions. Please refer to the rates bulletin for previous series. Terms and expressions not defined have the meaning given in the relevant fact sheet, available on the Diversified GICs page.

2. The variable interest for Diversified GICs is based on the return of the three reference assets comprising the Reference Portfolio, namely, the fixed-rate GIC, the Canadian Precision 10 GIC and the Global Precision 10 GIC, which are weighted differently for each Diversified GIC. The reference portfolio return is equal to the weighted average return of the reference assets calculated as the sum of the weighted return of each of the reference assets. The variable interest will be a percentage of the principal invested on the issue date ("guaranteed interest") and will be limited to a maximum ("maximum interest"), depending on the Diversified GIC selected and specified in the relevant fact sheet.

The reference asset return of the fixed-rate GIC is a percentage specified in the fact sheet.

For the Canadian Precision 10 GIC and the Global Precision 10 GIC, the reference asset return is the arithmetic average of the return on the 10 reference stocks having the sixth to fifteenth highest return of the 20 reference stocks in the basket during the period from the issue date to the valuation date, subject to a maximum and minimum as specified in the relevant fact sheet.

If the return on the reference portfolio is not greater than the guaranteed interest at maturity, only the amount of the guaranteed interest and the principal invested on the issue date is payable.