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Term Deposits & GICs

What are term deposits and GICs?

Guaranteed Investment Certificates pay a fixed rate of interest for a specified term between one and five years. Term Deposits pay fixed interest for a specified term between 30 and 365 days. There are no withdrawal privileges unless otherwise stated. The principal is guaranteed in both cases.

Who should buy them?

  • Investors with a very low tolerance for risk
  • Those seeking income in retirement
  • People who want to put their savings out of reach for a specific period of time

Most investment portfolios will have a foundation of fixed-term products. How much of a foundation depends on you and your specific circumstances.

I don’t want any risk. Should I put my entire portfolio in GICs?

That’s a tough question that probably requires a conversation with a Coach. Modern portfolio theory, including concepts such as asset allocation and diversification, would suggest that the correct way to build a strong portfolio is to mix different types of investments. When you factor in inflation and taxes, the actual return in your GIC may not be positive even if that conflicts with what it says on your statements.

Our best advice is to come in a talk to Coach today to look at your personal situation.

What are the next steps?

Consider GICs for your Tax-Free Savings Account or for other specific savings needs.

Already bank at Libro? Simply log into Online Banking and purchase a new GIC online today.

  • The online purchase process takes less than five minutes
  • By choosing to purchase online, you’ll receive a bonus rate!
  • You can choose between short- or long-term investment timeframes and easily compare rates
  • Invest in a non-registered GIC, RRSP GIC, TFSA GIC or RRIF GIC

Not yet banking at Libro? Speak with a Libro Coach today to learn more about investing a Libro and how to get started.

If you have GICs in your RRSP portfolio, ask a Libro Coach about five-year ladders to minimize your interest rate risk over time.

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