Guaranteed Investment Certificates (GICs)

Available as a registered or non-registered investment, Northern GICs offer a guaranteed return on your money—so there’s no need to guess where the markets are going.

FIXED RATE GICs

Redeemable GICs are available at 30- to 179-day terms with a minimum balance of $5,000, or longer 180-day to 5-year terms with a $1,000 minimum. There’s no penalty for cancelling within the first 30 days, and a penalty of 50% of interest paid thereafter.

Non-Redeemable GICs are available in terms of 1 to 5 years and require a minimum balance of $1,000. Unlike Redeemable GICs, these investments are locked in until the term is complete, but the trade-off is a higher interest rate.

BENEFITS

  • No fees
  • Completely secure
  • Choice of redeemable or non-redeemable
  • Guaranteed interest rate paid annually or semi-annually
  • Withdraw or reinvest your earnings at the end of the term

INDEX-LINKED TERM DEPOSITS

Balancing risk and reward is one of the biggest challenges an investor faces. Our Market Secure GICs reduce your risk by protecting 100% of your principal investment, while maintaining the potential for excellent returns.

BENEFITS

  • Rate of return based on the performance of Canada’s 60 best companies (the S&P/TSX 60
  • 100% protection of your principal investment through Northern Credit Union Deposit Insurance
  • No commissions, management or administration fees
  • Available in 3 or 5-year terms with a minimum investment of $1,000

Please visit your local branch or call 1-866-413-7071 (Mon-Fri, 9-5pm) to talk to a Northern Advisor.