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RRIF and LIF withdrawal rates: Everything you need to know Mar 6th
At some point, a registered retirement savings plan (RRSP) is typically converted to a registered retirement income fund (RRIF). The latest you can defer the conversion of your account is the end of the year you turn 71. This means that by December 31 of your 71st year, you need to either withdraw t.... More »
Canada’s home insurance under pressure as extreme weather costs rise Feb 19th
Canada’s home insurance safety net is starting to fray at the edges as the costs of extreme weather continue to rise. While competition is still healthy, and the country has so far avoided the coverage deserts growing in the United States, insurers are paring back policies in a variety of ways to .... More »
The best GIC rates in Canada for 2026 + MORE Apr 27th
GIC comparison tool
Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance.
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MoneySense is an award-winning magazine, helping Canadians navigate m.... More »
Buying your first stocks in Canada Jun 21st
Where should you start if you’re a newcomer to Canada who wants to invest? This article provides an overview of the Canadian investing landscape, from investment types and financial markets to investment advisors, online brokers and robo-advisors.
Types of investing accounts
In Canada, there.... More »
Car loan interest rates: What’s the best Canadians can get? + MORE Dec 20th
I’m half-Italian, grew up in a kitchen and am a seasoned home cook. Even so, I still turn to an expert (my mom) for advice on my most special dishes. After all, creating a culinary masterpiece requires careful planning, attentive research, vigilant sourcing and maybe some expert help. Ditto shoppi.... More »
Investing in GICs? Here’s why to buy them from an online bank
– moneysense.ca
In today’s harsh investing climate, it’s nearly impossible to avoid volatility. What’s been particularly painful about the instability of this past year is the range of different asset classes hit. Whether you’ve been investing in stocks, gold or cryptocurrencies, your portfolio has likely seen some steep ups and downs. For example, the S&P/TSX Composite Index has already endured two 10% pullbacks in 2022, and Bitcoin has dropped more than 50% since the start of the year.
With plenty of question marks still surrounding the economy for the foreseeable future, many investors with short time horizons are now understandably searching for safer investment options. For anyone looking for a dependable—but also competitive—return on investment, guaranteed investment certificates (GICs) from a digital bank could be the answer.
What is a GIC?
When you buy a GIC, you lend an agreed-upon amount of money to a financial institution for a set period—anything from one month to 10 years…
