GIC (Term Deposit)

A GIC provides you with a higher interest rate than a savings account in return for committing your money for a specific period of time.

We offer 30-through-180-day and 1-, 2-, 3-, 4-, and 5-year terms with tiered interest rates and bonus interest for deposits over $50,000. We also offer Step Up and Index-linked options. The interest rate is fixed at the time of the deposit. The minimum deposit is $2000, and you can set up the GIC as a regular savings product or as a registered plan (RRSP, RRIF or TFSA). You can pledge your GIC as security on a loan to lower your interest rate.

GIC's are eligible for DICO deposit insurance (applicable limits apply), so your funds are protected. Statements are mailed twice yearly after June 30th and December 31st, and are available online.

For our Junior Firefighters, we have a special 90-day term deposit available for a minimum deposit of $100.

You should consider a GIC if...

• You want a guaranteed rate of return on your investment
• You're interested in maximizing your rate of return through tiered interest rates
• You want an investment with compounding interest
• You want to start investing with a sum as little as $2000