Achieva’s Guaranteed Investment Certificates (GICs) are the best way for you to receive the highest returns available through Achieva. Registered, or Non-Registered, GICs come in a variety of terms to suit your individual needs.
Non-registered GIC
This is a typical GIC where you take a lump sum of money and invest it at a higher guaranteed rate for a specific length of time, generally 1 through 5 years. Laddering GICs among the various terms is a great way to improve your long-term returns while freeing up a portion of your money every year a GIC matures.
RRSP GIC
With all the same features as a non-registered GIC, a Registered GIC has an added feature of all new RRSP contributions being tax-deductible, with the interest earned being tax-sheltered until withdrawal. This is a great product for those wanting to save on their income tax while earning the highest interest rates available on their retirement savings.
Achieva is a great place to transfer existing RRSP savings at other financial institutions. The minimum deposit is $500, and each contract holder can have as many GICs as suits their individual needs.
Registered Tax-Free Savings Account (TFSA) GIC
Following all the same rules governing TFSA savings, your tax-free savings funds can be transferred into a GIC. This will allow you to earn the highest return on your TFSA, while benefiting even more from the tax-free interest feature of the account.