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GIC details

Available terms and rates 16-month term
Access to funds
This is the flexibility to cash out (redeem) the GIC during the term.		 Redeemable Have the flexibility to cash out at anytime, interest is paid after 6 months of the funds held.
  • Redeemable with interest after 30 days (no interest will be paid if redeemed within the first 30 days)
Minimum investment $500
Interest

Choose from:

  • Paid every eight months Get an interest payment on each anniversary of opening the GIC.
  • Compounded at eight months Have earned interest added to the initial investment annually so you earn interest on your interest. Then get a lump sum interest payment at the end of the term.

Interest Rates and Terms

Rate is subject to change at any time, without notice. Interest rates are calculated per annum, accrued daily, and paid at eight (8) months or at maturity.

Rate Term length
1.00%1 Months one to eight
4.50%1 Month nine to 16

Compare similar business GICs

Explore our other GICs and find one that works for your business’ needs.

 
1-5 Year GIC
16-Month Flex GIC
3-Year Rising Rate GIC
Available terms
1-5 years
16 months
Three years
Access to funds This is the flexibility to cash out (redeem) the GIC during the term.
 
 
 
Non-RedeemableN/A With non-redeemable GICs, there’s penalty if you take your investment out before the GIC matures. If you may need access to the funds, consider a redeemable option.
yes
N/A
N/A
Redeemable after 30 days without penalty on interest payableN/A
N/A
yes
N/A
Redeemable in part of full on GIC anniversary date
N/A
N/A
yes
Minimum investment
$500
$500
$500
Interest earning options
 
 
 
Paid annually Get an interest payment on each anniversary of opening the GIC.
yes
N/A
yes
Compound annually Have earned interest added to the initial investment annually so you earn interest on your interest. Then get a lump sum interest payment at the end of the term.
yes
N/A
yes
Paid monthlyN/A Get an interest payment each month
yes
N/A
N/A
Paid every 8 monthsN/A
N/A
yes
N/A
Compound at 8 monthsN/A
N/A
yes
N/A
 
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CDIC Deposit ProtectionCDIC Deposit Protection

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Only deposits payable in Canada are eligible to be insured under the Canada Deposit Insurance Corporation Act.

Rate subject to change or termination at any time, without notice. Interest rates are calculated per annum, accrued daily, and paid at maturity.

1. Offers subject to change or termination at any time, without notice. Interest rates are calculated per annum and accrued daily. Minimum investment of $500 ($250 for junior accounts). Choose interest to be paid every 8 months (compounding) or every 8 months (non-compounding). Partial or full redemptions allowed, subject to the minimum redemption amount of $500 ($250 for junior accounts) while maintaining minimum investment amount of $500 ($250 for junior accounts). The effective simple interest rate if held to maturity is 2.75% when averaging 1.00% for the first 8 months and 4.50% for the second 8 months of the term. No interest is payable if redeemed before 30 days. Rate holds are not eligible for the promotional offers.