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3.65%
30-month GIC special
Kickstart your next short-term savings goal.
A Guaranteed Investment Certificate (GIC), also known as a term deposit, is a low-risk investment that pays a guaranteed return over a set term. You can choose from different term deposits, including cashable GICs and non-redeemable GICs, depending on how soon you may need access to your money.
GIC rates are set when you invest, so your returns are predictable for the full term.
Choose short or long term deposits based on when you’ll need your money.
Cashable GICs offer earlier access, while non-redeemable GICs may offer higher rates when funds stay locked in.
At Mainstreet, eligible deposits are protected through the Financial Services Regulatory Authority (FSRA), providing added peace of mind.
Who should consider a GIC?
A GIC may be a good fit if you want a predictable return and a clear timeline for your savings. It can support short-term goals, longer-term plans, or balance out a portfolio where stability matters.
A Mainstreet advisor can help you choose a term and type of GIC that matches your goals and comfort with access to funds.
Mainstreet offers several GIC investment options, including cashable and non-redeemable GICs, to match different goals and timelines.
A Mainstreet advisor can help you choose the right term deposit based on when you’ll need access to your funds.
The classic choice for predictable, guaranteed growth.
Guaranteed interest rate for the full term
Predictable returns with no market risk
Available as cashable or non-redeemable
Suitable for short- and mid-term savings goals
Designed for savers who want guaranteed growth with the option to access their money before maturity.
Access to your funds after the initial holding period
Guaranteed fixed interest rate
Cashable without market risk
Ideal when you want security with added liquidity
Offers growth potential without risking your original investment.
100% of your original deposit returned at maturity
Returns linked to market index performance
No risk to your principal if markets decline
Available in 3-year or 5-year term lengths
The interest rate increases each year of your term, so your savings grow faster over time.
Increasing fixed rates for a 3 or 5 year term
Cashable on the anniversary date for added flexibility
Interest paid annually
Ideal if your savings timeline may change
Designed to turn savings into steady income.
Scheduled income payments
Helps supplement retirement or pre-retirement cash flow
Keeps your money earning while you withdraw
Best for long-term income planning
Standard
3.55%
Booster
3.80%
Final year
A Rate Booster GIC offers a fixed interest rate that increases each year of the term. Instead of locking in one rate from start to finish, your changes up annually, helping your savings grow more over time.
It’s available in 3- or 5-year terms and may be redeemed on anniversary dates, giving you added flexibility compared to a traditional non-redeemable GIC.
A Mainstreet advisor can help you decide whether a Rate Booster GIC fits your savings timeline and cash flow needs.
A Cashable GIC offers a fixed interest rate over a 1-year term, with the option to access your funds after the initial holding period. It provides the security of guaranteed returns while offering more flexibility than a traditional non-redeemable GIC.
This option may be a good fit if you want predictable growth but may need access to your money before the end of the term.
A Mainstreet advisor can help you determine whether a cashable or non-redeemable GIC better supports your savings plan.
A Reverse GIC provides a fixed interest rate while paying out regular income over the term. Instead of receiving interest at maturity, you receive scheduled payments, helping turn your savings into steady cash flow.
Reverse GICs are typically offered in longer terms and may be suited for those looking to supplement income with predictable payments.
A Mainstreet advisor can help you determine whether a Reverse GIC fits your income needs and overall plan.
|
Standard GIC |
Cashable GIC |
Rate Booster |
Index-Linked |
Reverse GIC |
|
|---|---|---|---|---|---|
|
Best for |
Predictable, guaranteed growth |
Guaranteed growth with added liquidity |
Fluctuating returns over time |
Growth potential with principal protection |
Generating regular income |
|
Term Options |
1–5 years |
1 year |
3 or 5 years |
3 or 5 years |
5 years only |
|
How Returns Work |
Fixed interest rate for the full term |
Fixed guaranteed rate |
Interest rate changes each year |
Linked to S&P/TSX 60 performance |
Fixed rate plus income payments |
|
Access to Funds |
Locked in until maturity |
Access after initial holding period |
Cashable on anniversary dates |
Locked in until maturity |
Scheduled withdrawals monthly, quarterly, semi-annually, or annually |
|
Minimum Deposit |
$1,000 ($500 youth) |
$1,000 ($500 youth) |
$1,000 ($500 youth) |
$1,000 |
$50,000 |
|
Standard GIC |
Cashable GIC |
Rate Booster |
Index-Linked |
Reverse GIC |
|---|---|---|---|---|
|
Best for |
||||
|
Predictable, guaranteed growth Guaranteed growth with added liquidity Fluctuating returns over time Growth potential with principal protection Generating regular income |
||||
|
Term Options |
||||
|
1–5 years 1 year 3 or 5 years 3 or 5 years 5 years only |
||||
|
How Returns Work |
||||
|
Fixed interest rate for the full term Fixed guaranteed rate Interest rate changes each year Linked to S&P/TSX 60 performance Fixed rate plus income payments |
||||
|
Access to Funds |
||||
|
Locked in until maturity Access after initial holding period Cashable on anniversary dates Locked in until maturity Scheduled withdrawals monthly, quarterly, semi-annually, or annually |
||||
|
Minimum Deposit |
||||
|
$1,000 ($500 youth) $1,000 ($500 youth) $1,000 ($500 youth) $1,000 $50,000 |
||||
A Mainstreet advisor can walk you through your options and help you choose the right term deposit for your timeline and comfort level.
A cashable GIC allows you to withdraw funds early, usually after a short holding period, and is designed for flexibility.
A Reverse GIC is designed for income. Withdrawals must be scheduled in advance and are paid at regular intervals (monthly, quarterly, semi-annually, or annually). Reverse GICs are only available in non-registered accounts.
Yes. Eligible deposits held in registered plans (such as RRSPs and TFSAs) have unlimited deposit insurance coverage.
Eligible deposits in non-registered accounts are insured up to $250,000 per member. This provides an additional layer of protection for your savings.
Interest payment options depend on the GIC you choose. It may be paid monthly, quarterly, annually, or at maturity.
Minimum investments vary by product:
Index-Linked GICs typically start at $1,000
Reverse GICs require a minimum of $50,000
Other GICs generally have lower minimums
Reverse GICs are specifically designed to provide scheduled income.
Standard and Rate Booster GICs can also support income planning when interest is paid regularly.
No. GICs do not have management fees or transaction fees.
Reverse GICs are designed to provide a predictable income stream. When you open a Reverse GIC, your withdrawals must be scheduled in advance and follow the product rules in effect at the time of purchase.
This includes:
A minimum initial investment of $50,000
A 5-year term
Scheduled withdrawals only (monthly, quarterly, semi-annually, or annually)
Annual withdrawal limits based on a percentage of your original investment
Your Mainstreet advisor will review the current limits and help structure a payment schedule that fits your income needs.