Back to learn

Blog posts by

Clay Shiffman

Term Deposit Vs GIC: Understanding the Differences 

4 mins

Clay Shiffman

Are you torn between a term deposit and a Guaranteed Investment Certificate (GIC) for your next investment? While both offer secure avenues to grow your savings, they have distinct advantages and limitations. Finding the right strategy will help you safeguard your finances during economic downturns.

Term Deposits provide flexibility and ease of access, but often at lower interest rates. On the other hand, GICs promise higher guaranteed returns, yet with stricter access to funds. Navigating these differences is key to aligning your investment with your financial goals.

Term Deposit Vs GIC: Understanding the Differences 

4 mins

Clay Shiffman

Are you torn between a term deposit and a Guaranteed Investment Certificate (GIC) for your next investment? While both offer secure avenues to grow your savings, they have distinct advantages and limitations. Finding the right strategy will help you safeguard your finances during economic downturns.

Term Deposits provide flexibility and ease of access, but often at lower interest rates. On the other hand, GICs promise higher guaranteed returns, yet with stricter access to funds. Navigating these differences is key to aligning your investment with your financial goals.

logo.koho

Company

AboutAffiliatesCareersCommunity DiscountsCultureEnterpriseLearnNewcomersTravelStatusStudent & Graduate Discounts

Connect

The KOHO Mastercard® Prepaid card is issued by KOHO Financial Inc. pursuant to license by Mastercard International Incorporated. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated.

By using this website, you accept our Terms and Conditions. Follow these links for more information on our Privacy Policy and Accessibility Policy. © 2024 KOHO Financial Inc.