Long-Term GICs

Where applicable, the appropriate regulatory license is required to sell this product.

Your clients who are willing to lock in their deposits for a longer period of time will benefit from the higher rates typically associated with long–term GICs. And that's ideal for those who want stability in their portfolio, or are nearing retirement.

We offer a wide range of terms (from 1–5 years) with a variety of interest payment options. These long–term GICs are non–redeemable.

Terms Plan Type Minimum Minimum Account Value
1-5 years Non-Registered $1,000 $10,000 for monthly interest payments
  RRSP $1,000 N/A
  RRIF $1,000 $10,000
   

Issuers:

  • B2B Bank
  • Laurentian Bank
  • Laurentian Trust
  • LBC Trust

Account types:

  • Non–Registered (Personal or Non–Personal)
  • RRSP (Individual, Spousal, Locked–In RRSP or LIRA)
  • RRIF (Individual or Spousal)

Interest payments:

Non–Registered GICs

  • For terms less than 2 years, simple interest is paid at maturity
  • For terms of 2–5 years, interest can be compounded and paid at maturity or paid out annually, semi–annually, quarterly or monthly until maturity
  • Interest payments can be deposited electronically into your client’s Canadian bank account or they can be paid directly to you or your client

RRSP GICs

  • For terms less than 2 years, simple interest is paid at maturity
  • For terms of 2–5 years, interest is compounded and paid at maturity
  • Interest payments can be deposited to the variable interest savings account within the client’s RRSP or rolled-over with the principal for the same term and conditions

RRIF GICs

  • For terms less than 2 years, simple interest is paid at maturity
  • For terms of 2–5 years, interest can be compounded and paid at maturity
  • Interest payments can be deposited to the variable interest savings account within the client’s RRIF or rolled–over with the principal for the same term and conditions

For information on rate guarantees, RRIF payments and other important administrative information on our GICs, click here.

This information is intended for financial intermediaries only.