A Guaranteed Investment Certificate or GIC is a Canadian investment that offers a guaranteed rate of return over a fixed period of time, most commonly issued by trust companies or banks. Due to its low risk profile, the return is generally less than other investments such as stocks, bonds, or mutual funds. It is similar to a time or term deposit as known in other countries.
Read more about Guaranteed Investment Certificate: Overview, Market Growth GICs
Famous quotes containing the words guaranteed, investment and/or certificate:
“Next to the right of liberty, the right of property is the most important individual right guaranteed by the Constitution and the one which, united with that of personal liberty, has contributed more to the growth of civilization than any other institution established by the human race.”
—William Howard Taft (1857–1930)
“The only thing that was dispensed free to the old New Bedford whalemen was a Bible. A well-known owner of one of that city’s whaling fleets once described the Bible as the best cheap investment a shipowner could make.”
—For the State of Massachusetts, U.S. public relief program (1935-1943)
“God gave the righteous man a certificate entitling him to food and raiment, but the unrighteous man found a facsimile of the same in God’s coffers, and appropriated it, and obtained food and raiment like the former. It is one of the most extensive systems of counterfeiting that the world has seen.”
—Henry David Thoreau (1817–1862)