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A GIC loan is a loan that is secured by a (generally non-redeemable) Guaranteed Investment Certificate.

A Guaranteed Investment Certificate (GIC) is a Canadian deposit instrument that provides a guaranteed rate of return for a given period that can range from one (1) day to ten (10) years. GICs are considered low-risk investments and are seen as having similar risk characteristics as OECD country debt.

Some GICs are not redeemable until the holding period is complete, so some people will take loans against the GIC using the GIC as security for the loan.

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