Tax-Free Guaranteed Investment (GIC)
When you're ready to put some money aside to grow your savings, an ING DIRECT Tax-Free Guaranteed Investment is a great choice. Guaranteed! Your money is guaranteed to grow - safe and secure. Oh yeah…and tax-free too!
Investing for 1 year or longer? Maximize your growth with GIC laddering.
You may have already heard of "GIC Laddering", an approach that uses multiple GICs with different maturity dates. Instead of putting all your savings into one GIC, you divide the amount equally among multiple GICs. Each GIC has a different maturity, ranging from one year to five years. That way, you can earn the higher rates that come with longer terms, without having to lock in all of your money for as long. Read more about GIC Laddering.
How much can you contribute?
Effective January 1, 2013 save up to $5,500 per year without being taxed on the interest you earn in a Tax-Free GIC. Up to $5,000 of unused contributions per year can be carried over from 2009-2012.
Just lock in your savings with us for one of our set terms and we'll pay the kind of interest that you'd expect with a Guarantee. You earn the same great rate on every dollar in your account.
Safe and secure
ING Bank of Canada is a member of Canada Deposit Insurance Corporation, which means your deposits of up to $100,000 are eligible for CDIC deposit insurance.
If you need your money before your GIC matures, here’s what happens:
- For 90, 180 and 270 day GICs, no interest is paid if the GIC is redeemed before maturity.
- For 1-5 year GICs, you’ll receive an early redemption rate of 0.50%.
Open a Tax-Free Guaranteed Investment (GIC) and start saving tax-free now!
It's fast, it's safe and it's ridiculously convenient. Or, call us and open an account over the phone. 1-866-700-0314.
Open a Tax-Free GIC today. We're ready when you are.
Savings Account and GIC rates are annualized and are current as of today's date and are subject to change without notice. Interest is calculated daily and paid monthly in the case of our Savings Accounts; and is calculated daily and paid at maturity on a GIC. Rates, like the weather are subject to change.