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Non-Redeemable GICs
What is a Non-redeemable GIC?
When you buy a Non-redeemable GIC, you agree to invest a certain amount of money for a set length of time (term) to benefit from a fixed interest rate. When your term is up, you can either cash in your GIC – and get your initial investment back plus interest – or renew your term and keep growing.
A low-risk investment
You are guaranteed to get your initial investment back, plus interest, at the end of your term.
Stable growth
Your interest rates are consistent for the length of your term, no matter what the market is doing.
Competitive rates
Save for the short-term or invest for the long term with our competitive rates.
Is this Guaranteed Investment Certificate (GIC) right for you?
Right for you if you:
- Prefer a low-risk investment with principal and interest rate guaranteed
- Agree to not withdraw your funds for the length of the GIC term
May not be right for you if you:
- May need access to your investment prior to maturity
- Are willing to give up a guaranteed rate of return and principal protection in exchange for the potential to earn more
How do I choose the right GIC for me?
The right choice of GIC depends on your financial situation, investment goals and time horizon. Please see below for a comparison of our GIC types:
For example, if you are saving for a new car, a Cashable or Personal Redeemable GIC is a better choice because you have the flexibility to redeem your cash anytime.
In general, less access to your funds will mean higher interest return. Cashable is the most accessible GIC, but will have relatively lower interest rate vs. Market Linked GIC that is least accessible but carries the highest potential interest return.
| Key feature and needs | Cashable GIC/MPSA | Personal Redeemable GIC | Non-Redeemable GIC | Market-linked GIC |
|---|---|---|---|---|
| Investor’s need | Accessibility coupled with competitive rate | Accessibility coupled with competitive rate | Earn a guaranteed rate of return | Keeping pace with inflation |
| Principal protection |  |
|
|
|
| Flexibility | |
|
— | — |
| Higher returns | — | — | |
|
| Return Guaranteed | |
|
|
|
| Exposure to market | — | — | — | |
Purchase your Non-Redeemable GIC
To get started, choose one of the following options:
I'm a Scotia OnLine customer with an Investment Plan
Purchasing with Scotia OnLine is fast, easy and secure.
I'm a Scotia OnLine customer without an Investment Plan
You'll need a Registered Plan or a Non-Registered Plan to purchase your GIC. Opening Plans on Scotia OnLine is fast, easy and secure.
I'm not a Scotia OnLine customer
Use our online tool to book an appointment.
Your non-redeemable GIC options
All Non-Redeemable GICs are available as part of a registered or Non-Registered investment portfolio, and can be automatically renewed on maturity.
Short-Term CDN $
Term
30-364 days
Investment Payment Frequency
At Maturity
Minimum Investment
$500
Long-Term CDN $
Term
1-10 years
Investment Payment Frequency
Compounded annually or semi-annually. Interest paid at maturity, if annual or semi-annual compounding.
Minimum Investment
$500
Long-Term CDN $
Term
1-10 years
Investment Payment Frequency
Monthly
Minimum Investment
$5,000
US Dollar
Term
1-29 days
Investment Payment Frequency
At Maturity
Minimum Investment
U.S. $100,000
US Dollar
Term
30-364 days
Investment Payment Frequency
At Maturity
Minimum Investment
$500
US Dollar
Term
1-10 years
Investment Payment Frequency
At Maturity
Minimum Investment
$500
The Investment Companion Booklet and Terms & Conditions includes important information about our products, services, and fees. For GIC rates and term options click here.
Scotiabank - INVESTMENT COMPANION BOOKLET
Effective November 1, 2024 | pdf : 691
KB
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