Non-registered GIC Rates

Non-registered GIC Rates

These rates are not registered with the federal government and normally do not have limits and most notably is that earned income is included for taxation every financial year.

What is a non-registered guaranteed Investment Certificate?

A non-registered GIC allows investors to invest an unlimited amount of money in funds with liberty anywhere. They are not tax exempted whilst gains and losses are made known for taxation on income tax purposes.

A non-registered GIC basically is any GIC that cannot be invested in any of the registered savings deposits that exist in Canada outlined above They are mainly short term investments that guarantee earnings to define an amount of interest, as long as long as money is not redeemed before the maturity date. They work on the basis of, longer periods of investments attracting higher rates of interest.

What types of non-registered GICs exist?

Here below is a list of some non-registered CIC rates;

1. Redeemable GICs also known as cashable that earns on lower interest since there is room to cash out. They also do not attract penalty charges for cashing out before the maturity date.
2. Non-redeemable GICs offer high interest to invest as an incentive and longer since it is a fixed term investment. They cannot be cashed earlier than the pre-defined maturity date
3. Market-linked GICs to the stock market. They have an appealing front by promising to boost the returns of a standard GIC by binding the return to the performance of stocks.