A Guaranteed Investment Certificate (GIC) is an investment that guarantees 100% of the principal and interest amount that you invested will be returned to you. Your investment earns interest, at either a fixed or variable rate, or based on a pre-determined formula. Your interest rate is guaranteed, so you don’t need to worry about any changes in the markets or the economy. A GIC can be purchased for a term of as little as a few months, and up to 5 years.

Always check if there are penalties for early withdrawal and how much those penalties are. It is important to consider the liquidity of any investment. Liquidity means how available your money will be if you want to withdraw it on short notice. Generally, the more liquidity you want, the lower the interest rate.

All of our GICs (registered or non-registered) are either federally or provincially insured.

Our partner banks and trusts are generally insured to $100,000 via the CDIC.
Our partner Credit Unions are generally insured to $250,000 via provincial deposit insurance corporations like the FSRAO for Ontario, or the CUDIC for British Columbia, for example.

Government insurance on guaranteed investment certificates (GICs) allows for low-risk investing for those who are risk-averse, diversifying, retiring, or elderly.

A GIC can be a useful tool at any stage of life and after all; don’t you deserve a guarantee?

All of our GICs are insured for up to $100,000 by the Canadian Deposit Insurance Corporation. Our Credit Union GICs are insured up to $250,000 (principle and interest combined). Please contact the office for further information regarding deposit insurance and limits.

Anyone over the age of 18 is eligible to invest in a GIC. A minimum deposit of $1000 will be required to invest with most companies. Identification requirements vary by company. One of our associates can help you decide which company is right for you.

A non-registered GIC in an investment that is not held in a tax-advantaged account.

Non-Registered guaranteed investment certificates can be owned individually or jointly (spouse preferred).

For more information on purchasing a GIC, please contact our office at 519-886-4427 or email info@villagegic.com.

A Tax-Free Savings Account (TFSA) is a flexible investment account, where your investment income - whether you’re earning interest, dividends, or capital gains - is not taxed, even when withdrawn. This means that your money has a chance to grow quicker than in a traditional taxable account, helping you reach your goals faster!

Your TFSA contribution room is the maximum amount you can contribute for any given year.

The 2026 contribution limit is $7000. If you turned 18 before 2009 and have never contributed, your maximum TFSA contribution limit is $109,000.

For more information on contributions and eligibility, please contact our office at 519-886-4427 or email info@villagegic.com.

A Registered Retirement Savings Plan (RRSP) is an investment in your future with benefits you can enjoy today. By contributing to an RRSP you can take advantage of substantial tax savings now, and enjoy peace of mind in knowing you’ll have secure retirement funds in your future. Investing in an RRSP is a great way to reduce your taxable income.

For more information on contributions and eligibility please contact our office at 519-886-4427 or email info@villagegic.com.

A Registered Retirement Income Fund (RRIF) is an extension of your Registered Retirement Savings Plan (RRSP). While your RRSP is used to save for your retirement; a RRIF is used to withdraw income during your retirement. RRSP must be converted to a RRIF or annuity, or paid out in a lump sum by the end of the calendar year in which you turn age 71.

RRIFs are similar to RRSPs in several respects. Each allows for tax-deferred growth, offers several investment options and is government-regulated.

A major difference between an RRSP and a RRIF is that with an RRSP you can make annual contributions as long as you have earned income and have contribution room available. Withdrawals are optional and will be taxed. With a RRIF, contributions are not allowed and you must make minimum mandatory withdrawals each year.

For more information on contributions please contact our office at 519-886-4427 or email info@villagegic.com.