Tandia is pleased to offer members a wide range of market-competitive fixed rate term deposits with terms from 30 days to 5 years. Some fixed rate term deposits are eligible to be held in registered plans, depending on the term selected. Interest is guaranteed for the term and at maturity the deposit is reinvested into a similar term unless otherwise instructed by the member.
Guaranteed Investment Certificates (GIC's) and term deposits are secured investments. This means that you get back the amount you invest at the end of your term. The key difference between a GIC and a term deposit is the length of the term. Term deposits generally have shorter terms than GIC's.
Yes, GIC's are considered to be extremely safe. They are classified as low risk investments. GIC's often payout less amounts than other types of investments. However this is quickly changing with interest rates on the rise. Having a GIC provides you the ability to earn a decent return over a relatively short period of time without any risk of losing your money.
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