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Guaranteed Investment Certificates (GICs)

  • Minimum $1,000 deposit.
  • Terms vary from 1 to 5 years.
  • Interest is paid annually and deposited directly into your Daily Interest Chequing account.
  • Certificates cannot be cashed prior to date of maturity
  • No Rebate GICs: Offer higher interest rates and are also available for 1 to 5 year terms but are not eligible for bonus interest under PARAMA's profit sharing program.
  • Cashable GICs: Available for a 1 year term at a slightly lower interest rate than the conventional 1 year GIC. These are cashable anytime from 60 days after the initial deposit and require a minimum deposit of $10,000.
  • US Dollar GICs: Available for a 1 year term with a minimum of a $1,000 deposit. Principal plus interest earned are deposited directly into your US Dollar Savings Account on the day of maturity. Not cashable prior to maturity date.
  • Index-Linked GICs: Available for 3 and 5 year terms. Combines participation in the potential gains in the stock market with the principal protection of a GIC.

Eligible deposits in all registered accounts with Ontario Credit Unions have unlimited deposit insurance coverage through the Financial Services Regulatory Authority (FSRA).

Eligible deposits (not in registered accounts) with Ontario Credit Unions are insured up to $250,000 through the Financial Services Regulatory Authority (FSRA).


Our GIC Rates