Is a Guaranteed Investment Certificate right for You?

A Guaranteed Investment Certificate (GIC) is a type of investment that earns a fixed or variable rate of interest. GICs can help you build your savings faster. Depending on the type of GIC you get, you may have to keep your money in the account for a specific period of time.

Each GIC has a “term,” – a set amount of over which it will earn interest.  Depending on the GIC you may not be able to cash your GIC early or you may not earn interest if you do. The end date of the term is referred to as the “maturity date.” CIBC offers many different types of GICs.

Cashable GIC

Cashable GICS offer a reasonable rate of return. You can take out your money if you need it, so these are a good option if there is a possibility you will need to access your money before the GIC matures. We offer 3 types of cashable GICs.

Non-redeemable GICs

Non-redeemable GICS do not let you access your funds before maturity, but they do offer a higher rate of return. They are a good option as long as you are sure you will not need the money before the end of the term. We offer 7 types of non-redeemable GICs.

Index-linked GICs

With an index-linked GIC, you can take advantage of the unlimited growth potential of investing in Canadian and global stock markets. However, the money you invest in the GIC is protected so you do not have to worry about losing it.

Market linked GICs

With a market linked GIC, you have opportunities to take benefit of the growth potential of a market-linked returns while your money stays protected. 

CIBC Special Offer GICs

Occasionally, CIBC offers special, higher interest rates on GICs to help you grow your savings faster. 

Get more information on the different types of GICs offered at CIBC.