Short-term GIC for businesses – Investments │ Evolvespire Bank

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Keep your options open with business GIC terms up to one year

Businesses often need to stay flexible. With a business short-term GIC deposit, you don’t have to lock your excess cash away for a long period of time. Choose a term between 30 and 364 days, and know you can redeem early if you need to (fees apply).

Our business short-term GIC deposits let you:

Protect your principal
Guarantee your interest rate for 30 to 364 days
Stay flexible

3.75^%

270–364 days GIC¹

Are our short-term GIC deposits right for your business?

Yes, if you:

Have $25,000 or more to invest
Want a secure, protected investment

Benefits of a business short-term GIC deposit

In addition to the standard benefits of our GICs you also:

Pay no fees to invest

Business short-term GIC deposits have no set-up or maintenance fees. All your money starts growing the day you invest it, helping you achieve the financial goals for your business.

Get the best rate at renewal

Up to 30 days before your business short-term GIC deposit matures, you can ask for a rate guarantee. When you do, we’ll give you the better of the rate that day or the rate on your renewal date. That protects you and your business if interest rates drop.

Redeem before maturity

You can access your money before the maturity date. There is a fee to redeem before maturity, but it’s reassuring to know your money is available if you need it.

Rates

3.75^%

270–364 days GIC¹

Our short-term business GIC offers a competitive interest rate on all your money

$100,000 +

¹Short-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.

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.

FAQ

We pro-rate the annual interest rate to the number of days of your short-term deposit. For example, if the annual rate is 1%, a 30-day investment would earn 30 / 365 x .01 x 100 = 0.08%. If you invested $100,000, at maturity you would receive your original investment of $100,000 plus $80 in interest.

Yes, the minimum investment is $25,000.

Contact Support. Keep in mind that if you redeem a business short-term GIC deposit before maturity, we charge a $25 early redemption fee and a rate reduction of 1.25%. If you redeem within the first 29 days, you forfeit all interest.

See all investment FAQ

Get higher rates when you invest in a business long-term GIC

If you don’t need to access your excess cash during the near future, consider a long-term GIC. Choose a term between 1 and 5 years, with higher interest rates than you can get with a short-term deposit.

Invest with even more flexibility in a Business Advantage Account

Get a high interest rate and complete flexibility to access your excess cash whenever you want with a Business Advantage Account. Available in Canadian or US dollars, the Business Advantage Account makes it easy to move money into and out of your operating account.