This GIC Calculator helps calculate the interst paid on your investment and the total return you can expect.
How this GIC calculator works
To start input the inital value of your investment. Then input the interest rate that you will earn on the GIC as well as the length in months or years. This will then calculate the total interest that will be earned over the life of the investment taking into consideration the impact of compounding on the interest rate to show you the total return.
Historical GIC rates in Canada
These are the historical GIC rates that are available in Canada.
How is interest calculated?
The interest for a GIC is compounded and paid out at the end of the term. The compounding period will be laid out in the contract that you sign for the GIC.
What is a GIC
A Guaranteed Investment Certificate (GIC) is a secured investment where the principal that you intially invest is guaranteed back to you while providing interest over the term of the investment. A GIC is a low-risk investment that can help generate predictable returns.