Redeemable Without Penalty GIC

Cash in your investment after 30 days or 6 months

At a glance

What is a Redeemable Without Penalty GIC?

Invest at a fixed interest rate and cash in your GIC penalty-free after 30 days or 6 months.

Perfect if you are looking to:

  • Take advantage of a great fixed rate
  • Cash in all or part of your funds after 30 days (12- or 14-month term) or 6 months (24-month term)
  • Avoid withdrawal penalties

Rate: Fixed

Minimum investment: $500

Access to funds: Yes

Investment horizon: 12, 14 or 24 months

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GIC options

Select a term and interest type for your GIC.

Term Minimum investment Rate Interest type Get this GIC
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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

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.

Access to funds

  • Can be cashed in without penalty after 30 days for 12- and 14-month terms.
  • Can be cashed in without penalty after 6 months for a 24-month term.
  • The interest payable is calculated based on the number of days between the date the GIC was issued and the date it was cashed in.
  • You can cash in a portion of your investment up to three times during the term.
  • Minimum amount to cash in: $5,000. At least $500 must remain invested.

Additional information

Interest is calculated annually.

Automatic renewal: Unless otherwise instructed, we will automatically renew your GIC 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.

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

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

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