Term Deposits (GICs)
If you want a guaranteed return on your investment, then a Guaranteed Investment Certificate, or GIC, is what you want. GICs are a sure way to grow your money- guaranteed.
Benefits include:
- A higher rate of interest than a savings account
- Choice of how fast your money grows- you decide the investment amount and length of the term
- Deposits are 100% guaranteed by the Deposit Guarantee Corporation of Manitoba.
Short-term GICs are offered from 30 days up to 364 days, with a minimum deposit of $500. Interest is calculated on the full value of the deposit for the period of time invested and may compound or be transferred to your deposit account.
Long-term GICs are offered from 12 months up to 60 months, with a minimum deposit of $500. Interest is calculated on the full value of the deposit for the period of time invested. You may choose to have interest compound annually with your investment or have it directly deposited to your account. Interest is paid on the annual anniversary date. Upon maturity, the investment will automatically renew for the same term at the then current interest rate, unless you tell us otherwise.
| Redeemable GICs | Rates |
|---|---|
| 1 Year | 2.50% |
| Non-Redeemable GICs | Rates |
|---|---|
| 30 - 59 days | 1.10% |
| 60 - 89 days | 1.30% |
| 90 - 179 days | 1.60% |
| 180 - 364 days | 2.15% |
| 1 Year | 4.75% |
| 2 Year | 4.85% |
| 3 Year | 4.50% |
| 4 Year | 4.40% |
| 5 Year | 4.35% |