A GIC provides a guaranteed rate of return over a fixed period. With a fixed-rate GIC, your initial investment is protected, making GICs a safe and reliable way to grow your savings over time.

Here are just a few of the benefits to opening a GIC:

1. Guarantees your principal investment, including interest earned (except Index-Linked GICs)
2. Offers a higher interest rate than a variable savings account
3. Tiered rates allow you to earn even more interest the more you save
4. Multiple term options allow you to choose the term that best fits your savings goals
5. Available within an FHSA, TFSA, RRSP, or RRIF to allow for tax efficiency

Whatever your age or stage, GICs can be tailored to help you reach a variety of savings goals. Whether you’re looking to save for the short-term, safely participate in the stock market, or are looking for a consistent source of investment income, there’s a GIC for that.

While there’s no one-size-fits-all approach to investing, there is a GIC for every level of investor and need.

One of the biggest appeals to GICs is in the name — they’re guaranteed. There’s no risk of losing your principal investment, and with fixed-rate GICs, you know your exact rate of return.

Plus, at SCU, deposits are guaranteed 100% by the Deposit Guarantee Corporation of Manitoba.**