The essential difference between two GICs often comes down to access to the funds before maturity. Describe your objective; an authorized person explains the options.
Know when the money is accessible
Compare the terms
Without obligation
Redeemable: accessible, under conditions
The contract states when and how to withdraw; the institution may add restrictions.
Non-redeemable: locked until maturity
In exchange, the terms offered differ; the figures are compared in the offers, not here.
The question of time
On what date will you need this money? The answer guides the choice.
Deposit protection
Depending on the issuer, protection may apply; check which body covers it and the applicable limits.
No rate displayed
Rates change; they will be presented in an offer.
Frequently asked questions
Can I withdraw from a non-redeemable GIC?
It depends on the contract; in an urgent need, special conditions sometimes exist.
Is the interest taxable?
Generally yes, depending on the type of account that holds the GIC.
Is the request free?
Yes, and without obligation.