All Guaranteed Investment Certificates (GICs) are insured by Federal, Provincial or Corporate insurance coverage depending on the institution. Chartered Banks and Trust Companies are federally insured and Credit Unions are provincially or corporately insured. Deposit insurance is automatic and does not req...
GICs are eligible to be insured by the Canada Deposit Insurance Corporation (CDIC) up to a maximum of $100,000 CAD per CDIC member for each CDIC insured category. You can purchase it through banks, credit unions and other financial institutions, as well as a financial advisor. ...
aguaranteed investment certificateis a financial product in Canada. Guaranteed investment certificates are sold by Canadian banks, credit unions, and trust companies, often to individuals for their retirement accounts. The Canadian GIC is more like a U.S. CD than a U.S. GIC. ...
Confusingly, certificates of deposit (CDs) are more like Canadian guaranteed investment certificates than U.S. guaranteed investment contracts, since CDs are available primarily at banks and credit unions in the U.S. Is There a Downside to the Canadian Guaranteed Investment Certificate? Canada's gu...