GICs to grow your businesses savings

Rates and availability
Rates are annual interest rates and are subject to change without notice before purchase or renewal. Once issued, fixed-rate GICs earn the rate specified in the investment agreement, subject to any early-redemption provisions. Available terms, minimum deposits, interest payment options and promotional eligibility vary by product.

Guaranteed principal and interest
Principal and interest guarantees are subject to the applicable GIC agreement. Early redemption, where permitted, may affect the interest payable. These contractual guarantees are separate from deposit insurance coverage.

Access to your funds
Non-redeemable GICs generally cannot be cashed before maturity. Cashable and redeemable GICs are subject to product-specific conditions, which may include an initial holding period, permitted redemption dates, minimum withdrawal amounts and adjustments to interest. Review these conditions before investing.

Step-Up GICs
Step-Up GIC interest rates increase according to a predetermined schedule established at purchase. They do not automatically adjust to changes in market interest rates. Redemption rights and interest payable on redemption are governed by the investment agreement.

Maturity and renewal
Maturity instructions and any automatic renewal provisions are outlined in your investment agreement. Where automatic renewal applies, the rate available at renewal may differ from your original rate.

Deposit insurance
Eligible Canadian-dollar deposits are insured through the Financial Services Regulatory Authority of Ontario (FSRA), subject to applicable limits and conditions. Eligible non-registered deposits are generally covered up to $250,000, including principal and interest, per depositor at YNCU within the applicable coverage category. Coverage is not provided separately for each GIC. Separate coverage for eligible business deposits depends on the business’s legal structure and FSRA’s rules. Learn more about deposit insurance.

Business eligibility and tax considerations
Business membership, identification and account-opening requirements apply. Interest earned may be taxable. Speak with your accountant or tax advisor about your business’s circumstances. This page provides general information and does not constitute individualized investment, legal or tax advice.