Term Deposits/ GICs
A Term Deposit or Guaranteed Investment Certificate (GIC) is a secure investment that guarantees to preserve your principal and your investment earns interest at a fixed rate.
Features & Benefits:
- Security and safety—both your original investment and interest payments are guaranteed
- Competitive interest rates—guaranteed for the full term of the investment
- Flexible investment terms—ranging from 30 days to 5 years
- Automated renewals along with annual statements and maturity notices so that you can keep track of your investments
- Can be used as security for acquiring credit facilities
- Option to roll over principal only or principal plus interest earned
- Deposit insured up to specified limits
- Interest is forfeited if deposit is broken before the contracted maturity date
To compare our Chequing and Savings Accounts, and GIC rates, we recommend you speak to a KCCU member service representative to make sure you get the right investment features for you.