How to buy a GIC?

A guaranteed investment certificate (GIC) is another type of debt market security. GICs are issued by Canadian banks and trust companies to purchase. GICs are typically considered a safe way to save money because your initial investment (principal) is protected, and often earn a guaranteed rate of return for the term of your investment. However, you are required to typically hold on to your GIC until the end of the term. If something were to negatively affect a GIC issuer where they were to become insolvent, your investment could be covered by the Canada Deposit Insurance Corporation up to a certain amount.

GICs can provide fixed income to your portfolio, which can be one way of diversification. 

Now, you can also buy GICs conveniently online. With a self-directed account, you can choose from a range of GICs from all financial institutions. To browse or research all available GICs, login to WebBroker, and select a GIC from the Rate Sheet. It allows you to further filter and sort by the issuers and best rates. Don't have a self-directed account with TD Direct Investing? You can start by opening an account here.