Interest is calculated on each day's closing balance based on the simple interest rate and is paid or compounded (depending on the interest option chosen) at the end of each month. Your GIC or RGIC is non-redeemable and must be held for the entire term.
Rates subject to change without notice.
1 Simple annual interest rate.
2 Annual percentage yield (APY) - the effective interest rate, illustrating the effect of compounding, or earning of interest on interest.