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Guaranteed Investment (Interest) Certificate - GIC |
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Guaranteed Investment (Interest) Certificate - GIC A deposit investment security sold by Canadian banks and trust companies. They are often bought for retirement plans because they provide a low-risk fixed rate of return. The principal is at risk only if the bank defaults. Notes: The bank's profit is the difference between mortgage rates and GIC rates. If mortgages are at 8% and GICs are at 5%, then the bank makes 3%.GICs offer a return that is slightly higher than T-bills. |
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Guaranteed Investment (Interest) Certificate - GIC