Scotiabank is offering a new one-year Guaranteed Investment Certificate (GIC). It has a special rate of 1.6%.
The GIC is available from now until the end of January.
“GICs offer Canadians a safe way to keep their money working,” says Mike Henry, senior vice president and head of retail deposits and lending. “GICs can be used for short-, mid-, and long-term savings, and are ideal for TFSAs, RRSPs, and non-registered plans.”
According to a past Scotiabank poll, 38% of Canadian investors hold GICs. Of this segment, the majority says competitive interest rates (68%) and low-risk profiles (62%) are the most important features when buying a GIC.