Redeemable GIC

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 at maturity.
• At maturity: for terms of less than one year.

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

Access to funds

• Can be cashed in before maturity.
• Reduced interest rate applies to the portion of the principal cashed in. This rate will be determined according to the elapsed term as posted at the branch when you cash in your funds. No interest if cashed in within 30 days of the issue date.
• Can be cashed in before maturity in full or in part, in portions of $1,000, as long as a minimum balance is maintained:

       - $1,000 for a GIC with a term of one year or more.

       or

       - $5,000, for a GIC with a term of less than one year.

Posted rates are for annual interest calculations. For monthly interest, the rate is reduced by 0.125%. For quarterly interest, the rate is reduced by 0.05%.

• Compounded annually on the investment date and payable at maturity.
• For terms of less than one year, payable at maturity only.

Transferability

Can be transferred from an RRSP to an RRIF.

Access to funds

• Can be cashed in before maturity.
• Reduced interest rate applies to the portion of the principal cashed in. This rate will be determined according to the elapsed term as posted at the branch when you cash in your funds. No interest if cashed in within 30 days of the issue date.
• Full investment must be cashed in.

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

Interest payments

Interest paid annually and at maturity

Transferability

Cannot be transferred.

Access to funds

• Can be cashed in before maturity.
• Reduced interest rate applies to the portion of the principal cashed in. This rate will be determined according to the elapsed term as posted at the branch when you cash in your funds. No interest if cashed in within 30 days of the issue date.
• Part of the investment can be cashed in before maturity, in $500 portions.
  

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

Automatic renewal for non-registered GICs: 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.

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.

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.