text: Manitoba GIC Rates, Best Short Term, Non Redeemable GIC Rates in Manitoba
  Manitoba GIC Rates
  A guaranteed investment certificate or GIC is a type of Canadian investment that offers assured return rates for a set period. This type of investment is popular among trust companies and banks. The assured yield on a GIC is less than that of other investments such as stocks, bonds, and mutual funds, because of its low-risk profile.
  High Interest GIC Rates in Manitoba
  Best GIC Rates Manitoba
  Best 180 Days GIC Rates Manitoba
  Best 1 year GIC Rates Manitoba
  Best 2 Years GIC Rates Manitoba
  Best 3 Years GIC Rates Manitoba
  Best 4 Years GIC Rates Manitoba
  Best 5 Years GIC Rates Manitoba
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  3 Mistakes to Avoid When Comparing GICs Rates in Manitoba
  Here are a few mistakes that just about everyone makes when comparing GIC rates, along with a recommended fix that will help you get better returns, regardless of how big or small your initial investment will be.
  GIC Mistake #1: Neglecting to Shop Around
  The best GIC rates in Manitoba aren't found in the large banks, but rather from credit unions. Many people want to be loyal to their lender, and so they don't shop around, but although your lender might offer the best loan rates, it doesn't necessarily follow that they offer the best GIC rates in Manitoba. It's always wise to shop around, especially when rates are generally low. Commercial banks' interest rates sometimes stagnate and fall behind the offerings of credit unions and online banks.
  For example, Equitable Bank offers 1.10 percent for a three-month GIC, which is significantly less than the 1.80 percent offered by Oaken Financial. GIC interest rates vary according to the amount of the investment and the term. You can purchase a GIC for as little as $100 all the way up to $50,000.
  GIC Mistake #2: Neglecting to Find the Best GIC for Your Needs
  As a savvy investor, you should be aware that there are different types of GICs. For example, banks offer registered and non-registered GICs. If your financial institution offers registered GICs, it means that your investment and your lender are registered with the government for taxation purposes. Financial institutions offer three types of registered GICs:
  Only the capital gains on non-registered GICs are taxed, usually at half your highest marginal tax rate. There are two types of non-registered GICs: commercial and personal.
  GIC Mistake #3: Neglecting to Find Out Whether a GIC is Redeemable or Non-Redeemable
  Non-redeemable GIC are a type of fixed-term investment. Funds invested or deposited in this type of GIC cannot be taken out until the term has expired. A redeemable GIC is an opposite.
  If you're looking to invest, you should base your decision on whether to buy redeemable or non-redeemable on the benefits offered by each plan, and on your personal preference. Redeemable GICs offer the following:
  Different redemption rates
  Principal investment guaranteed for the duration of the term
  The option to withdraw your funds at any time
  The chief benefit of non-redeemable GICs, on the other hand, is the higher rate of return. If you plan on investing in non-redeemable GICs, you should first ensure that you have enough cash on hand to cover emergencies, because you won't be able to withdraw funds if anything unexpected comes up.
  Pros and Cons of Investing in a GIC
  Whether you choose to invest in registered or non-registered, redeemable or non-redeemable GICs, the returns are guaranteed. You also have the guarantee that the principal will be returned to you. The terms for both redeemable and non-redeemable GICs are renewable and varied. Non-redeemable GICs offer higher returns.
  There are some cons, for example, GICs offer lower returns than investments with higher risks. They can also tie up your funds for extended periods, which can be a problem if an emergency comes up.
  Look carefully at the different types of GIC offered, and use CompareMyRates.ca to shop around and find the best rates available. GICs are a great investment vehicle, enabling you to grow your investment portfolio with very little risk. Log on to www.CompareMyRates.ca today, to find the guaranteed investment certificate that's best for you.