DCHP-3

guaranteed investment certificate

DCHP-2 (May 2012)

Spelling variants:
Guaranteed Investment Certificate, GIC, G.I.C.

n. — Finance

an investment option that offers a fixed rate of interest over a fixed term.

Type: 1. Origin — The product has been offered by Canadian banks since the 1950s (see Image 1). The term is almost exclusively used in Canada (see Chart 1), though similar products exist elsewhere. In the US, for instance, such fixed-term investments are generally known as Certificates of Deposit.
See: GIC

Quotations

1953
Savings Deposits - Guaranteed Investment Certificates
1954
A Guaranteed Investment Certificate is a legal investment in the Province of Ontario for Trustee Funds and repayment is guaranteed by Chartered Trust Company.
1978
Since mortgage rates should remain fairly stable this year and since the trust companies will be maintaining the spreads between mortgage rates and guaranteed investment certificate rates, GIC rates also should hold fairly level through the year.
1990
As of last Friday, the trust companies' average rate for a one-year, non-redeemable guaranteed investment certificate, or GIC, was 11.25 per cent, compared with the banks' average of 11 per cent, Corrigan said.
2006
Dennis Collingwood, a financial adviser at Bieber Securities in Brandon, [...] says he prefers this strategy compared to buying a bank's GIC (guaranteed investment certificate).
2013
How and where you choose to save often depends on the length of your goal. Cash and cash equivalents provide low-risk investment and easy access to your money. Such products include a high-interest savings account, Guaranteed Investment Certificate (GIC) and Canada Savings Bond, among others.

Images

Image 1: Ad for a <i>Guaranteed Investment Certificate</i>, <i>The Globe and Mail</i>, 7 Nov. 1957: 7

Image 1: Ad for a Guaranteed Investment Certificate, The Globe and Mail, 7 Nov. 1957: 7

Chart 1: Internet Domain Search, 13 Aug. 2012

Chart 1: Internet Domain Search, 13 Aug. 2012