What are the advantages and disadvantages of GICs?

Answer 1

gics are generally one to fice year deposits with a bank or other financial institution such as a trust company or insurance company. you cannot sell gics to other investors and you often cannot cash them until the maturity date, most gics pay a set rate of interest, while some link returns to the performace of other benchmarks such as Stock Market indices. a disadvantage of many GICs is that they often carry penalties if you cash them before the term ends. term deposits also offered by banks, are similar to GICs but require a large minimum deposit. the terms gic and term deposit are often used interchangeably since they describe very similar investments

Answer 2

gics are generally one to fice year deposits with a bank or other financial institution such as a trust company or insurance company. you cannot sell gics to other investors and you often cannot cash them until the maturity date, most gics pay a set rate of interest, while some link returns to the performace of other benchmarks such as Stock Market indices. a disadvantage of many GICs is that they often carry penalties if you cash them before the term ends. term deposits also offered by banks, are similar to GICs but require a large minimum deposit. the terms gic and term deposit are often used interchangeably since they describe very similar investments

Answer 3

gics are generally one to fice year deposits with a bank or other financial institution such as a trust company or insurance company. you cannot sell gics to other investors and you often cannot cash them until the maturity date, most gics pay a set rate of interest, while some link returns to the performace of other benchmarks such as Stock Market indices. a disadvantage of many GICs is that they often carry penalties if you cash them before the term ends. term deposits also offered by banks, are similar to GICs but require a large minimum deposit. the terms gic and term deposit are often used interchangeably since they describe very similar investments