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Guaranteed Investment Certificates (GIC)

A GIC is a secure investment that guarantees 100% of your original investment, while earning interest at a fixed rate.

Grow your money with peace of mind when you invest in GICs. 

Safe and secure: Both principal and interest payments are guaranteed.

Flexible: Choose from a variety of terms and payments to access your money when needed. 

Competitive rates: Interest rates typically beat conventional savings plans, and are guaranteed for the entire term.

Concentra Bank offers the following GIC investment products: 
Choose a term and interest frequency that suits your needs.

  Terms Plan Availability Minimum Deposit
Redeemable 1 year cashable
  • Option to be cashed prior to maturity
  • Interest paid on maturity (or upon redemption if held more than 30 days)
  • Automatic reinvestment at current rate
Non-Redeemable long-term
  • 1 to 5 year terms
  • Non-redeemable prior to maturity
  • Access to funds on maturity only
  • Automatic reinvestment at current rate


Concentra GIC FAQ

What is the minimum amount I can invest?

The minimum amount is $1,000 Canadian.

What is the maximum amount I can invest?

The maximum amount is $150,000 Canadian.

I just purchased a GIC and opened an account but I haven't deposited any money yet. What rate will I receive?

You will receive the available rate you selected on the day you open the account; however, you have 10 days to deposit money to the account.

Can I buy a GIC with U.S. dollars?

Concentra does not offer U.S. dollar GICs at this time.

What if I don't have a Concentra account?

You don't need to be a Concentra account holder to buy a GIC. Once you buy a Concentra GIC, an account is created for you.

Do I pay any fees when I buy the GIC?

There are no fees to buy a GIC but make sure you read the Deposit Disclosure to understand what other types of fees are applicable.

What are the rates and terms?

You can see our rates and terms on the homepage of this website. Scroll down to see the table.

Do you offer variable interest rates?

Our rates on GICs are fixed. We do not offer variable interest rates at this time.

When is the interest paid?

The interest is paid or compounded annually based on your selection on the anniversary date of the GIC.

How do I get my money back when my GIC matures?
We will contact you prior to the maturity date to review your options and confirm your instructions.

Can I redeem my GIC before the maturity date?

Non-redeemable deposits cannot be redeemed before the maturity date. In special circumstances, a non-redeemable deposit may be redeemed. Transaction and interest penalties may apply. Contact Client Support if you have questions or wish to discuss your circumstances. A minimum 10-day hold before a non-redeemable deposit may be redeemed. 

What happens to my GIC if I die?

Generally, when an account holder passes away their assets become part of their estate. The next of kin should contact our Client Support team. If possible, have the date of death and details of the account holder's executor available.

If I don't have the minimum amount can I contribute a little each month? In other words, do you offer pre-authorized debits or contributions?

Sorry, but we don't offer pre-authorized debits or contributions to GICs at this time.

Will I be taxed on the earned interest?

Any interest earned on a GIC is taxable in the year it is paid or compounded.

How is my GIC protected?

Your GIC is eligible for protection through the Canada Deposit Insurance Corporation (CDIC). As a member of the CDIC, Concentra GICs are insured for the term of your deposit up to a maximum of $100,000.

Can I speak to an investment adviser before I purchase?

Our Client Support team is happy to provide general information on our products; however, they are not investment advisers and cannot provide personal financial advice.