A closer look at Guaranteed Investment Certificates


Investors may have the impression that they pay no fees when investing in Guaranteed Investment Certificates (GICs).

The truth is that the interest you are paid on a GIC is much less than what the bank earns when your money is invested in loans or mortgages.

The difference that the bank retains is referred to as the “spread”. The money earned on the spread helps the bank cover its costs and make a profit. So, even though there is no fee when you buy a GIC, the bank still makes money using your money.

For more information about Guaranteed Investment Certificates:

Curtis F. Dudley

Registered Retirement Consultant, Certified Financial Planning Professional

Financial Consultant, Mutual Funds Representative,

100-1113 Jade Crt. Thunder Bay, ON P7B 6M7

Tel (807) 345-6363  | Fax (807) 345-0741 | Mobile (807) 472-8552 | Toll Free (800) 465-3923

[email protected] | investorsgroup.com

Investors Group Financial Services Inc.
Member of the Power Financial Corporation Group of Companies

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