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Guaranteed Investment Certificates (GICs)

Guaranteed, low risk investing

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.

Eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA). Eligible deposits (not in registered accounts) are insured up to $250,000 through the Financial Services Regulatory Authority (FSRA).

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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

Featured GIC offers

Explore our most popular GICs. With great rates and flexible terms, GICs are a great way to build your investment portfolio.

18-Month Non-Redeemable GIC

3.65%^*

Open a 18-Month GIC Learn more about the 18-month GIC

3-Year Non-Redeemable GIC

4.00%^*

Open a 3-Year GIC Learn more about fixed-rate GICs

5-Year Non-Redeemable GIC

4.20%^*

Open a 5-Year GIC Learn more about fixed-rate GICs

View all GIC rates

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.

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 the 3-year raise the rate GIC

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

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, RRSP and FHSA plans.

EXPLORE FIXED RATE GICs

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, RRSP and FHSA plans.

EXPLORE THE 18-MONTH GIC

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

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

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