Redeemable Plus GIC

Access your funds each year penalty-free

At a glance

What is the Redeemable Plus GIC?

With the Redeemable Plus GIC, you get a fixed interest rate and the option of cashing in your investment after a year, penalty-free.

Perfect if you are looking to:

Enjoy a fixed interest rate
Cash in all or part of your investment after a year
Avoid withdrawal fees

GIC options

You can choose a registered or non-registered GIC.

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Our advisors can help you choose the GIC that's right for you.

Make an appointment

Tip

Looking to earn high interest with the option of accessing your funds at any time? Discover our High Interest Savings Account.

Little details that matter

Non-registered plan

Interest payment options

Monthly: calculated and payable based on the date the investment was issued ($1,000 minimum).
Twice a year: calculated and payable based on the date the investment was issued ($1,000 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 upon maturity.
At maturity: for terms of less than one year.

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

Access to funds

Can be cashed in prior to the maturity date under the following conditions:

All or part of the GIC can be cashed in without penalty on the anniversary date.
Per $1,000 portion, if only part of the GIC is cashed in.

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%.

RRSP

Interest payments

Compounded annually on the investment anniversary and paid at maturity.

Transferability

Transferable from an RRSP to an RRIF.

Access to funds

Can be cashed in prior to the maturity date under the following conditions:

All or part of the GIC can be cashed in without penalty on the anniversary date.
Withdrawals must be in increments of $500, if only part of the GIC is cashed in.

Posted rates are for interest payable at maturity (compounded annually).

TFSA

Interest payments

Interest paid annually or at maturity.

Transferability

Non-transferable.

Access to funds

Can be cashed in prior to the maturity date under the following conditions:

All or part of the GIC can be cashed in without penalty on the issue date.
Per $500 portion, if only part of GIC is cashed in.

Additional information

Fixed interest rate for the entire term Interest is calculated annually.

Automatic renewal: Unless otherwise instructed, we will automatically renew GICs invested in an RRSP or in a non-registered plan at maturity for the same amount (principal and interest) and term at the prevailing rate. You will have 10 business days after the new GIC is issued to cancel the renewal. TFSA: the principal amount of the GIC and interest earned are paid into the cash portion of the TFSA. Offer for Personal Banking clients.

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

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.