Rising Rate GIC
What is a Rising Rate GIC?
Benefit from compound interest and the choice to redeem your money on each anniversary without penalty.
GIC Details
| Available terms and rates | 3 years | |
|---|---|---|
| 3.60%1 | Year 1 | |
| 3.80%1 | Year 2 | |
| 4.20%1 | Year 3 | |
| Access to funds | Partial or full redemptions allowed on the annual anniversary date of the GIC. | |
| Minimum investment | $500 | |
| Interest earned |
Choose from:
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| Availability | Available as non-registered and registered accounts | |
What's a GIC, and how does it work? We've put together a guide to understanding all things GIC - including why you need one.
It may seem particularly challenging right now to save for the future, but we promise there’s a way. Even though inflation and rising interest rates have dimmed economic forecasts for the next couple years, there are still great savings and investing opportunities available.
When it comes to investing, there are many different strategies you can try. For example, if you invest in stocks, you have an opportunity of getting higher returns. However, it’s a riskier product. Alternatively, you could go for safer investments, such as guaranteed investment certificates (GICs)...
Coast Capital Savings Federal Credit Union is a member of the Canada Deposit Insurance Corporation (CDIC). More CDIC information
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Only deposits payable in Canada are eligible to be insured under the Canada Deposit Insurance Corporation Act.
Coast Capital Savings Federal Credit Union provides advice and service related to deposit, loan and mortgage products. Coast Capital Wealth Management Ltd. provides investment and financial planning services. Coast Capital Financial Management Ltd. provides advice and service related to segregated funds, annuities and life insurance products.
1 Offers subject to change or termination at any time, without notice. Interest rates are calculated per annum and accrued daily. Minimum investment of $500. Eligible for non-registered, TFSA, RRSP and RRIF. Choose interest to be paid annually (compounding) or annually (non-compounding). Partial or full redemptions allowed on the annual anniversary date of the GIC. Minimum redemption amount of $500 while maintaining the minimum investment amount. Redemption outside the designated anniversary date is strictly prohibited. Rate holds are not eligible for the promotional offers.