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GIC rates and options from Meridian

Rates on the move again? Increase your return with a Raise the Rate GIC!

What is a GIC?

A GIC (Guaranteed Investment Certificate) is a secure, low-risk investment. The money you invest is guaranteed, so it’s a safe way to grow your savings and build a balanced portfolio. You choose how long to invest your money for, and when the term is up, you get your principal (the amount you originally invested) back, plus the interest you earned over the term.  

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Guaranteed returns
With a guaranteed return on the amount you invest, GICs are low-risk and perfect for building a balanced portfolio.
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Interest and income
Benefit from compounding when you renew your principal and interest. Alternatively, interest payments can provide a reliable source of income.
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Customized savings
Flexible term lengths and interest rates that can be fixed, variable, or escalating make it easy to customize your investments.

How GIC interest rates work

GICs usually pay out interest annually or at maturity, though some pay it on a more frequent schedule. Usually, interest is added to the balance of the GIC so it can compound and keep earning more. For example, if you buy a 5-year GIC at a rate of 4.5%, you’ll earn 4.5% for each of the 5 years. You can ask that interest be paid out to you each year in cash, or you can have your interest added back to the principal each year. This is called compounding.

LEARN MORE ABOUT GICS

Types of GICs

With so many types of GICs to choose from, there is sure to be one that’s right for you. Invest for the short or long term or choose a cashable option if you think you might need the money before your term is up. Alternatively, look at escalating rate GICs, or GICs that are linked to the stock market.  

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Featured GIC: Raise the Rate

An innovative guaranteed investment that lets you increase your interest rate before your term is up. If interest rates rise over the course of your GIC term, you can increase your return by raising the rate on your GIC. Choose from 3- or 5-year terms.

Available for: Non-registered, TFSA, RRSP, or RRIF plans.
EXPLORE RAISE THE RATE GICs
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1-year cashable GIC

One of our most popular GICs. Earn a competitive interest rate and access your money when you need it. Great for short-term savings!

Available for: Non-registered and TFSA plans.
EXPLORE THE 1-YEAR CASHABLE GIC
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Fixed rate GICs

Competitive rates and lots of flexibility with terms ranging from 30 days to 5 years. A flexible way to protect and grow your investment.

Available for: Non-registered, TFSA and RRSP plans.
EXPLORE FIXED RATE GICs
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18-month GIC

Our special 18-month GIC lets you earn high interest over a short term. Get a guaranteed return without locking your money away long term.

Available for: Non-registered, TFSA and RRSP plans.
EXPLORE THE 18-MONTH GIC
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Market-linked GICs

All the potential growth of the stock market without risking your principal investment. With a range of options, there’s a market-linked GIC for any investor.

Available for: Non-registered, TFSA, RRSP, or RRIF plans.
EXPLORE MARKET LINKED GICS
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3-year escalator GIC

A flexible, 3-year tiered-rate GIC with rates that increase each year. Access to your funds annually.

Available for: TFSA, RRSP, or RRIF plans.
EXPLORE THE 3-YEAR ESCALATOR GIC
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5-year escalator GIC

A flexible, longer-term tiered-rate GIC with rates that increase each year. Access to your funds annually.

Available for: TFSA, RRSP, or RRIF plans.
EXPLORE THE 5-YEAR ESCALATOR GIC

A Meridian GIC is an investment in the community


Did you know that when you buy a Meridian GIC, you’re also giving back to underserved communities across the province?

Unlike some of the larger financial institutions, we don’t have public shareholders. This means that more of our profits go toward product innovation and community initiatives.

In 2021, Meridian supported over 400 not-for-profit partners. From housing accessibility to financial literacy, we’re continuously working to enhance the lives of our Members and the communities we serve.

DISCOVER MERIDIAN IN THE COMMUNITY

Questions? There are plenty of ways to get in touch.