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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 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.
  • 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 8 months Get an interest payment on each anniversary of opening the GIC.
  • Compounds at 8 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.
Availability Available in non-registered and registered accounts including RRSP, RIF, RESP, FHSA or TFSA

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 maturity.

Rate Term Length
0.85% Months 1 to 8
5.35% Months 9 to 16

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16 Month Flex GIC
1 - 5 years GIC
3-Year Rising GIC
Available terms
16 Months
1-5 Years
3 Years
Access to funds This is the flexibility to cash out (redeem) the GIC during the term.
 
 
 
Redeemable after 30 days without penalty on interest payable
yes
 
 
Non-Redeemable 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
 
Redeemable in part of full on GIC anniversary date
 
 
yes
Minimum investment
$500
$500
$500
Interest earning options
 
 
 
Paid every 8 months
yes
 
 
Compound at 8 months
yes
 
 
Paid annually Get an interest payment on each anniversary of opening the GIC.
 
yes
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
yes
Paid monthly Get an interest payment each month
 
yes
 
Availability
 
 
 
Available as a Non-registered account
yes
yes
yes
Available as a Registered Account such as an RRSP, RIF, RESP or TFSA
yes
yes
yes
Available as a Registered Account such as an FHSA
yes
yes
 
 
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CDIC Deposit ProtectionCDIC Deposit Protection

Coast Capital Savings Federal Credit Union is a member of the Canada Deposit Insurance Corporation (CDIC). More CDIC information

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

Coast Capital Savings Federal Credit Union provides advice and service related to deposit, loan and mortgage products. Coast Capital Wealth Management Ltd. provides investment and financial planning services. Coast Capital Financial Management Ltd. provides advice and service related to segregated funds, annuities and life insurance products.

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 3.10% when averaging 0.85% for the first 8 months and 5.35% 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.

CDIC protects eligible deposits (like in a GIC) to a maximum of $100,000 per category.

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