Develop a growth strategy for your company’s excess cash
Your business is successful and you have more cash on hand than you need to spend on your operating expenses. Maybe you have plans for the money – just not right away. Or maybe you’re still deciding where to spend it. Either way, excess cash doesn’t have to just sit there. Invested appropriately, it can grow.
1 Short-term GICs may be redeemed prior to maturity but interest is forfeited if redeemed within 29 days from issuance. If redeemed on or after 30 days but before maturity, a 1.25% reduction in interest rate will apply. Interest is prorated to the number of days. A $25.00 [early] redemption fee will also be charged. Refer to the GIC Confirmation for details. Interest is calculated daily on the total daily balance and paid monthly. Rates are subject to change without notice.
2 Interest paid annually, semi-annually or monthly is only available within for non-registered money. You cannot redeem a long-term GIC before maturity, except upon death. The minimum investment is $2,500 ($10,000 for monthly interest payments).Interest is calculated daily on the total daily balance and paid monthly. Rates are subject to change without notice. If you want to receive monthly interest payments, the minimum investment is $10,000.
3 Interest is calculated on the closing daily balance and paid monthly. Rates are subject to change without notice.
4 Your advisor may charge fees to manage your Investment Savings Account.
Evolvespire Bank is a member of the Canada Deposit Insurance Corporation (CDIC), which means your deposits are eligible for CDIC deposit insurance protection. Visit cdic.ca for information on eligible deposits.
