Home > ... > Life > Investing > Investment products > GICs > Benefits of saving with a GIC

Benefits of saving with a GIC

When you think about saving for a goal what do you think about? Opening a savings account? Putting money into your retirement fund?

Guaranteed Investment Certificates (GICs) are often overlooked as a savings tool even though they have a lot to offer.

Low risk

Term deposits and GICs are generally considered safe investments because the principle amount is always safe.

Guaranteed growth

No matter what is happening in the markets, your GIC investment will earn some interest. The amount depends on the terms of the GIC product you choose.

Flexibility

There are many term and interest rate options to choose from. You can lock your money in to earn a higher interest rate or choose a cashable GIC to ensure you can access your money before the term ends.

Low maintenance

GICs are easy to understand and manage because they are predictable and require very little monitoring.

Deposit 100% guaranteed

If you put your money into a Servus GIC your deposits are 100% guaranteed by the Credit Union Deposit Guarantee Corporation. This means both the money you put in and the interest earned is safe and secure—up to any dollar amount. The Government of Alberta ensures that the Credit Union Deposit Guarantee Corporation’s obligations to depositors will be carried out.

Protect savings

Saving money isn’t always easy. There are always unexpected needs (and sometimes wants) that tempt you to dip into your savings "just this once." If you have a goals you are saving for and you want to ensure you can’t access your savings "on a whim," a GIC may be a better option than a savings account.

GICs can play a role in your savings strategy. While there are many benefits, they should be considered in the context of your overall investment and tax management strategy.

Learn more about Servus GICs offers today.

The information contained in this article is provided as a general source of information and should not be considered personal tax advice or investment advice.

Enter your branch for account features

Search by address, city/town or postal code.

Please try another search term or view a list of branches.

Branches near you: