Scotia® GIC with Flex is available as a 2-year or 3-year term investment* that can be redeemed at any time prior to maturity.
This flexibility makes the Scotia GIC with Flex an excellent choice if you want liquidity. You can get a more attractive return than most short-term investments, with the flexibility to move your money if you need to.
Both terms offer a guaranteed rate of interest† and security of principal.
Benefits
- Guaranteed interest rate†
- Security of principal
- Liquidity
- Available in both Non-Registered and Tax Free Savings Accounts (TFSA)
Features
- Can be partially or fully redeemed prior to maturity†
- Issued by The Bank of Nova Scotia or The Montreal Trust Company of Canada
- Minimum investment of $1,000 ($5,000 for monthly interest payments)
- Interest paid annually, semi-annually or monthly
Details
| Term |
Interest payment |
Redemption schedule and applicable interest rates† |
| 2 years |
At maturity or upon redemption |
- 0.00% if redeemed in first 89 days
- 0.35% if redeemed from 90 days up to 1 year
- 0.75% if redeemed from 1 year up to 2 years
|
| 3 years |
At maturity or upon redemption |
- 0.00% if redeemed in first 89 days
- 0.35% if redeemed from 90 days up to 1 year
- 0.75% if redeemed from 1 year up to 2 years
- 1.50% if redeemed from 2 years up to 3 years
|
Rates are provided for information purposes only and are subject to change at any time.
* Non-registered and Tax Free Savings Account (TFSA) only
** This is the annual interest rate if held to maturity.
† Any Scotia GIC with Flex redeemed within 90 days of the issue date pays no interest. Interest on early redemptions will be calculated on a daily basis at an early redemption interest rate which is provided in the table above for your reference. The Scotia GIC with Flex can also be partially redeemed prior to maturity at a reduced interest rate. If the GIC principal amount is less than $5,000, then the minimum withdrawal amount is $1,000 and the remaining balance must be at least $1,000. If the GIC principal amount is $5,000 or greater, then the minimum withdrawal amount is $1,000 and the remaining balance must be at least $5,000. Note that there may be an adjustment to interest already paid for early redemptions.
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