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Guaranteed Income Certificates (GICs)

GICs are among the safest ways in which to invest a portion of your capital. When you buy a GIC, the financial institution pays you for the privilege of keeping your money for a certain time.

GICs may have a minimum of $500. You agree to keep your money in the GIC for a certain period, usually between six months to 10 years. Most GICs pay interest, and may even pay a higher rate of interest than savings accounts.

Generally, the longer you keep your money in a GIC, the more interest you will earn. With some GICs, if you need to get your money back sooner, you won’t earn any interest; in fact, you may have to pay a fee or penalty. If you think you may need access to your money, choose a GIC that allows you to withdraw money without penalty.

Consult your Macquarie Private Wealth Investment Advisor to see if a GIC is a wise option for you at this time.


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