Globe and mail gic

The Globe and Mail's GIC (Guaranteed Investment Certificate) section provides information and rates on GICs offered by various financial institutions in Canada. Here are some key features and benefits of GICs:

What is a GIC?

A GIC is a type of savings instrument that provides a fixed interest rate for a specific period of time, usually ranging from a few months to several years. GICs are insured by the Canada Deposit Insurance Corporation (CDIC), which means that your deposit is protected up to $100,000.

Types of GICs

The Globe and Mail's GIC section offers a variety of GICs from different financial institutions, including:

  1. Term GICs: These GICs offer a fixed interest rate for a specific term, such as 1 year, 2 years, or 5 years.
  2. Laddered GICs: These GICs allow you to invest in multiple GICs with different maturity dates, creating a "ladder" of investments.
  3. High-Interest GICs: These GICs offer higher interest rates than traditional GICs, but may have some restrictions or conditions.
  4. Non-Registered GICs: These GICs are not registered with the Canada Revenue Agency (CRA) and are subject to taxes.
  5. Registered GICs: These GICs are registered with the CRA and offer tax benefits, such as tax-free growth and withdrawals.

Benefits of GICs

GICs offer several benefits, including:

  1. Guaranteed returns: GICs provide a fixed interest rate, which means you know exactly how much you'll earn.
  2. Low risk: GICs are insured by the CDIC, making them a low-risk investment option.
  3. Liquidity: GICs typically offer a fixed maturity date, allowing you to access your funds when the term ends.
  4. Tax benefits: Registered GICs offer tax benefits, such as tax-free growth and withdrawals.

How to use the Globe and Mail's GIC section

To access the Globe and Mail's GIC section, you can follow these steps:

  1. Visit the Globe and Mail's website at www.theglobeandmail.com.
  2. Click on the "Investing" tab at the top of the page.
  3. Select "GICs" from the drop-down menu.
  4. Browse through the list of GICs offered by various financial institutions.
  5. Compare rates and terms to find the best GIC for your needs.
  6. Contact the financial institution directly to open a GIC account.

Remember to always research and compare GICs before investing, and consider consulting with a financial advisor if you're unsure about the best investment option for your situation.