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Complacency, competition, and Canada’s productivity crisis + MORE Oct 10th
A senior official at the Bank of Canada is calling for more competition in the banking sector to better serve Canadians and the economy. Senior deputy governor Carolyn Rogers laid out her case for a more competitive Canada in a speech at the Canadian Club in Toronto on Thursday morning. Rogers sound.... More »
From Pokemon cards to music royalties: Do alternative investments work? + MORE Oct 22nd
When some rare first-edition Pokemon trading cards went on sale three years ago, Adam O’Brien was hit with a wave of nostalgia. For the now 32-year-old, it was an irresistible offer that had the potential for value in the long run.
It was a bit of a gamble, spending $100,000 for thre.... More »
The best GIC rates in Canada for 2025 + MORE Jul 21st
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 »
High borrowing costs, record completions lead to condo oversupply Sep 12th
Greater Toronto Area-real estate watchers say the combination of high interest rates and an uptick in new condo units coming online has led to an oversupply that will take time to balance out.
A report by TD economist Rishi Sondhi said sales activity hasn’t been absorbing supply fast enough.... More »
Tax time can be stressful—the right account can keep your money growing Mar 19th
The past year hasn’t been easy: inflation has remained elevated, trade tensions continue, and economic uncertainty is still high. If your budget feels tight, paying off a tax bill this season may feel particularly stressful—especially if you’re a solopreneur (aka you run your business alone) w.... More »
What is a cashable GIC?
– moneysense.ca
Canadian investors have been struggling with high inflation for a couple of years now. In an attempt to cool inflation down, the Bank of Canada (BoC) continues to keep interest rates high. As a result, the interest rates available for guaranteed investment certificates (GICs) look to be pretty attractive—above 5% for certain types of GICs. While people often think of GICs as “locking in” your money, there are several types of GICs suitable for different types of investors, including cashable/redeemable ones. Simply put, a cashable GIC is a flexible GIC—one that you can sell and convert to cash even before it matures.
How cashable GICs work
Traditionally, GICs offer Canadian investors three core benefits:
Principal protection to ensure your money remains safely investedA guaranteed interest rate to ensure you get a fixed return on your investmentCanada Deposit Insurance Corporation (CDIC) coverage of up to $100,000 per depositor (in the event of bank insolvency), subject to CDIC rules and regulations
In addition to these three core benefits, a cashable GIC offers investors the option of getting their money back even before the term of the GIC has ended, if they so choose…
