Products & Rates

Cashable GICs

If you’re looking for a stable and profitable place to park your money, an Outlook Guaranteed Investment Certificate (GIC) may be the choice for you.

GICs are term deposits made for a particular period of time. They return a fixed rate of interest regardless of fluctuations in market rates. Outlook GICs offer competitive rates, higher than most conventional institutions, and you get the added security of knowing your interest and deposits are both 100% guaranteed without limit. Outlook GICs are also available for a variety of different savings plans, such as RRSPs, RRIFs, and TFSAs.

Become a Member | Purchase a GIC

Why GICs?

Sometimes you don’t want to risk putting your money in investments that can’t guarantee a profit. GICs have a guaranteed interest rate with a set time period of investment, usually 1 to 5 years. With that stable interest rate you know what you’re getting, and when you’re getting it.

Why Outlook Cashable GICs?

In addition to the guaranteed interest rates of GICs, Outlook GICs offer these other advantages.

  • Unlike most other financial institutions, Outlook GICs are guaranteed without limit for 100% of the deposit and interest, so your investments are worry-free.
  • Choose from 1 to 5 year GICs with Outlook’s great rates – higher than most conventional financial institutions.
  • You can withdraw from your GIC at any time, so you’re secure in knowing you have the money if you really need it. The minimum withdrawal amount is $1000. You must maintain a minimum balance of $1000, or you have the option to cash your entire GIC at the early withdrawal rate. Withdrawals from Cashable GICs made prior to the maturity date will earn the early-withdrawal interest rate on the funds withdrawn, calculated back to the date of deposit.
  • Choose to reinvest your compound interest back into your GIC, or pay it annually to your High-Interest Savings Account.
  • Decide whether monthly or yearly interest payments work for you. Monthly interest payments are available at a 0.15% interest discount, paid into your High-Interest Savings Account.
  • Take advantage of an early start – the minimum deposit for Outlook GICs is only $1000.
  • Keep track of your money. Information about your GIC is available any time through Online Banking and Telephone Banking, and through e-statements which are produced twice yearly in January and July.

For more information about Outlook GICs, contact us.

Become a Member | Purchase a GIC

 

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Rates effective
Apr 4, 2014

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  • 1.80% Savings Accounts
  • 2.15% 1 Year Cashable GIC
  • 2.30% 2 Year Cashable GIC
  • 2.50% 3 Year Cashable GIC
  • 2.65% 4 Year Cashable GIC
  • 2.80% 5 Year Cashable GIC
View all rates

Our deposits are 100% guaranteed

All your Outlook Financial deposits and interest are 100% guaranteed without limit, no matter where you live. Read more…