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Guaranteed investment certificates (GICs)

Guaranteed return.

Saving in one of our GICs ensures you’ll always make a great return on your investment.

Flexible to fit you.

Not sure if you’ll need the funds? We have options that allow you to redeem before your GIC term ends.

Save your way.

From market-linked and escalator to fixed rate and redeemable, we have a GIC option to suit you.

 

Grow your savings guaranteed

Fixed rate GICs

Non-redeemable GIC

Lock in your savings and watch them grow, with a great interest rate guaranteed.

Key Features
  • No fees
  • Term lengths from 1 to 5 years
  • Minimum initial investment of $1,000
  • Guaranteed interest rate paid annually or semi-annually
  • Withdraw or reinvest your earnings at the end of the term

List of rates for NON-REDEEMABLE GICs
NON-REDEEMABLE GICs Rate
1-Year
5.00
2-Year
5.20
3-Year
4.50
4 Year
4.45
5-Year
4.40
18 Month
5.50

Redeemable GIC

Enjoy guaranteed returns with the freedom to withdraw your funds at any time.

Key Features
  • No fees
  • Term lengths from 30 to 179 days, with a minimum initial investment of $5,000
  • Term lengths from 180 days to 5 years with a minimum initial investment of $1,000
  • No penalty for redeeming within 30 days or a penalty of 50% of the interest gained after that point
  • Guaranteed interest rate paid annually or semi-annually
  • Withdraw or reinvest your earnings at the end of the term
List of rates for REDEEMABLE GICs
REDEEMABLE GICs Rate
30-59 Days
0.40
60-89 Days
0.45
90-179 Days
0.65
180-269 Days
0.80
270-364 Days
1.00
1-Year
2.00
2-Year
2.70
3-Year
2.80
4-Year
2.95
5-Year
3.00

Market-linked GIC – global diversified

Want the security of a standard GIC, while earning more interest? This option’s for you. It uses the securities’ average price on three specific business days to avoid the pain of market fluctuations and help maximize your return.

Key features

List of rates for MARKET LINKED GIC
MARKET LINKED GIC Rate
3 Year - Financial Services
5%-30% (1.64%-9.14% annualized)
3 Year - Global Diversified
5%-25% (1.64%-9.14% annualized)
5 Year Financial Services
7.5%-Unlimited (1.46%-Unlimited annualized)

Escalator GIC

Invest your savings securely and watch your interest climb the longer you leave them.

Key features

  • Term lengths from 3 to 5 years
  • Rates rise each year throughout your term
  • Choose between annual or compounding interest (RRSP and RRIF deposits are always compounding)
  • Redeem all or part of your investment each year on your anniversary date, or up to 7 days after without penalty

List of rates for 3-YEAR ESCALATOR
3-YEAR ESCALATOR Rate
Year 1
4.00
Year 2
4.15
Year 3
5.25
Average Yield to Maturity
4.47
List of rates for 5-YEAR ESCALATOR
5-YEAR ESCALATOR Rate
Year 1
3.70
Year 2
3.80
Year 3
3.90
Year 4
4.10
Year 5
6.00
Average Yield to Maturity
4.30

Laddering GIC

Protect your investment by taking advantage of higher rates from the start. Earn 5.25% in your first year.

Key features

  • 3 & 5 year terms available.
  • Low minimum deposit.
  • Redeemable on each anniversary**.
**Redeemable into a Northern Credit Union product at equal or longer term.
List of rates for 3-Year Laddering
3-Year Laddering Rate
Year 1
5.25
Year 2
4.75
Year 3
4.25
List of rates for 5-Year Laddering
5-Year Laddering Rate
Year 1
5.25
Year 2
5.00
Year 3
4.60
Year 4
4.20
Year 5
4.00
 

Wealth management

Financial planning shouldn’t be cookie-cutter. We help you create a tailored plan that matches your goals.

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Retirement calculator

Try our retirement calculator to work out what your payment plan could look like.
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Our latest & greatest rate.

Designed to meet your everyday needs.
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Creating an investment portfolio.

The hardest part for some people is knowing where to start. But have no fear! We’re here to help you build your very own investment portfolio.
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Grow it your way.

Your RRSP can hold a range of investments, from mutual funds to GICs, creating a custom portfolio to match your goals.
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Flexible to fit you.

Not sure if you’ll need the funds? We have options that allow you to redeem before your GIC term ends.

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Tired of paying tax on investment growth?

Want to learn how to save your money tax-free? Pull up a Muskoka chair as we explain the ins and outs of Tax Free Savings Accounts.
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At Northern Credit Union, eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA). Eligible deposits (not in registered accounts) with Ontario Credit Unions are insured up to $250,000 through the Financial Services Regulatory Authority (FSRA).