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Bank Investment Contract

   Also found in: Acronyms 0.01 sec.
Bank Investment Contract (BIC)
Interest guaranteed by the bank in a portfolio over a specific time frame with a specific yield.

Bank Investment Contract
A bank-issued contract guaranteeing a specific portfolio a specific yield for a certain period of time. This contract usually has a maturity ranging from one to ten years. It is a low-risk, low-yield investment made mostly by corporations carrying 401(k) or profit-sharing plans. See also: Guaranteed Investment Contract.


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Our Bank Investment Contract," boasted one bank in an ad featuring a photo of the Capitol, "Offers the Backing of a Higher Authority.
 
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