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.
And when your terms become due, you have the flexibility to reinvest your compound interest back into your GIC, or pay it annually to your Daily Interest Savings Account.
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.
New!!! Renew Maturing Terms Online - At Achieva, you now have the ability to review your term maturity documents online, set up email or text alerts notifying you when terms mature, and can conveniently and securely renew maturing terms online. Simply log into your Achieva Online account and select GIC Centre, Tax Free Account Centre, or RSP Centre - depending on your product - and follow the instructions to renew your term.
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.