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What You Need To Know About Comparing GIC Interest Rates?

Go through this informative piece of content to gain all vital information on to compare GIC Interest rates in Canada! There is often talk that GIC rates fluctuates with market shift, and RateShop.ca stand with this!

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What You Need To Know About Comparing GIC Interest Rates?

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  1. What You Need To Know About Comparing GIC Interest Rates? RATESHOP.CA

  2. What are GICs? Guaranteed (GICs) are financial products that let Canadians invest their money and earn some guaranteed interest. With a GIC, you invest your money with a financial institution (issuer) for a specific period of time, and they'll guarantee you a return of the principal and interest at a rate specified in your contract. It’s always advisable to compare GIC interest rates, doesn’t matter in which country or province you are! investment certificates

  3. Why to Compare GIC Interest Rates in Canada? GICs are a popular method of investing among Canadians for their guaranteed interest. When you purchase a GIC, your funds are insured with a provincial insurance organization depending on the financial institution you purchased the GIC from. Comparing the GIC rates help you get closer to better understanding of market flow, so you never miss any critical part of mortgage dealing in Canada.

  4. Which Important Consideration You Can’t Miss in Getting GIC? When you buy a GIC, you are agreeing to lend the bank or financial institution your money for a specified number of months or for up to 5 years. In exchange, your money will earn interest. The longer the term, the more interest you earn. At the end of the term, you get the entire amount you deposited plus the interest.

  5. Important Things to Consider While Comparing GIC Interest Rates? RateShop.ca You need to invest with at least $500.   Generally there is no fee for GICs.      Most GICs pay a fixed rate of interest for a set of different time frames.     Some GICs offer variable interest rates.     Your money is protected through the Canada Deposit Insurance Corporation (CDIC), but only for terms of 5 years or less an only on Canadian funds.

  6. Which is the Best Place to Compare GIC Rates in Canada? RateShop.ca! Based in Mississauga, you can get all information to seek and apply for GIC rates in Canada without any Stress!

  7. Thanks

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