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%.