What is a GIC?

GIC stands for Guaranteed Investment Certificate. There are many benefits to owning a GIC like guaranteed interest and principal protection. Generally, GICs are regarded as a low risk investment.

GICs can be purchased in a variety of accounts like your RRSP, TFSA and Spousal RRSP account for example.

This video explains the basics of what a GIC is and how they work.

Topics covered include:

- What is a GIC - Guaranteed Investment Certificate
- Understanding online and bank promotions
- The risks of owning a GIC
- Why companies issue GICs
- Important questions to ask before purchasing a GIC
- What are the benefits of owning a GIC
- How do you make money with a GIC

#gic #gicinvestment #investing

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