What are GICs?
GICs are term deposits made for a particular period of time. Sometimes you don’t want to risk putting your money into investments that don’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 invest in Outlook GICs?
You can withdraw from your cashable GIC at any time, so you’re secure in knowing you have the money if you really need it. Outlook GICs offer competitive rates, and a secure way to earn more from your savings – and you get the added security of knowing your deposits and interest are both 100% guaranteed without limit*.
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 (prior to February 15, 2010 2%, February 15, 2010 - Present 1%)
How to set up a new GIC
Applying to Outlook is fast, simple and secure. Depending on the options you choose, your application should take about 5-10 minutes to complete. Your account will be open within 2 business days after receipt of your application. Once completed, you will receive an email notification welcoming you to Outlook Financial and giving you all the information you need to manage your accounts.
Once you are a member, setting up a new GIC, is as easy as completing our online Deposit Form within the Manage My Investments section of Member Services.
The minimum deposit for Outlook GICs is only $1000. Your deposit will be completed within 2 business day after we receive your request.