Term Deposits & GICs
(Guaranteed Investment Certificate)

A Term Deposit or Guaranteed Investment Certificate (GIC) is a secure investment that guarantees to preserve your principal and your investment earns interest at a fixed rate.  The main difference between them is the length of the term.  Term deposits have a term length under one year and GICs have a term length of one year and over.   Based on the longer commitment, GICs generally offer a higher rate of interest than term deposits.

Features & Benefits:
  • Security and safety—both your original investment and interest payments are guaranteed
  • Competitive interest rates—guaranteed for the full term of the investment
  • Flexible investment terms—ranging from 30 days to 5 years
  • Automated renewals along with annual statements and maturity notices so that you can keep track of your investments
  • Can be used as security for acquiring credit facilities
  • Option to roll over principal only or principal plus interest earned
  • Deposit insured up to specified limits 
Additional Information:
  • Interest is forfeited if deposit is broken before the contracted maturity date

Compare our rates to see which is the right investment for you.

At Kingston Community Credit Union, eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA). Eligible deposits (not in registered accounts) are insured up to $250,000 through FSRA.

Learn more about deposit insurance here

A third party is an individual or entity, other than the account holder or those authorized to give instructions about the account, who directs what happens with the account. For example, if an account were opened in one individual’s name for deposits that are directed by someone else, the other person or entity would be a third party.

  • A secondary piece of identification from the primary list above
  • Canadian Birth Certificate
  • Credit Card bearing the name and signature of the individual which has issued by a well-known and reputable Canadian financial institution
  • A CNIB (Canadian Institute for the Blind) client card bearing the individual’s photo and signature
  • Provincial Outdoors Card
  • Canadian University or College Student Card with photo (for student identification only)
  • An employee identification card (with photo) issued by an employer that is well known in the community (i.e. KGH, DND, Queens University, Corrections Canada, etc.)
  • Foreign passport
  • Canadian Passport
  • Permanent resident card
  • Citizenship card (issued prior to 2012)
  • Secure Certificate of Indian Status issued by the Government of Canada
  • Driver’s licenses issued by province or territory
  • The DND (Department of National Defense) 404 driver’s license
  • Nexus Card issued by Canada Border Services Agency
  • Provincial Service Cards
  • Provincial or territorial identity cards (i.e. Ontario Photo Identification Card)
  • Foreign Passport (only if it is equivalent to a Canadian issued photo identification document)