GIC and Term Deposits offers a guaranteed rate of return over a fixed period of time, most commonly issued by trust companies or banks. Due to its low risk profile, the return is generally less than other investments such as stocks , bonds , or mutual funds. Even though it is guaranteed, the return may be lower than inflation. GIC’s can be Registered or Non Registered, and come in many forms, from conventional term deposits to market investments. GIC's regularly have life spans of 1, 2, 3, 4, or 5 year terms. At maturity they can be cashed as taxable income or renewed for another term. Usually, regular term deposits for financial institutions carry an interest rate from 1-5% pending on the various factors, such as the length of the term and specified interest rates from the Bank of Canada.
This information is generic and does not constitute financial advice. You should consult us before purchasing. Ektos Financial offers a selection of Insurance and Investment solutions that may fit your P.A.C.T plan.
What make us different?
We listen and we wait for our turn to speak.
We are committed to establishing a relationship based on keeping promises, respecting boundaries, communicating and understanding what you want to accomplish in life.
We design and implement financial plans that integrate cash flow and debt management, insurance and investment planning, as well as retirement and estate planning.
Moreover, we will create a financial plan that coordinates the work of financial, banking, insurance, investment, accounting and legal professionals.
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Contact Jose Cid at 604 229 2332 or fill the contact form below.