Market Index GIC

The Best of Both Worlds

Are you looking for higher returns than are currently available on fixed-rate term investments?  You’re not alone.  Plenty of Members have chosen the FirstOntario Market Index GIC to boost their yield without risking their principal. 

The Market Index GIC pays a rate of return based on the performance of the major market indices over a 3-year or 5-year period.  But, it’s still a Term Investment, backed by government-guaranteed deposit insurance.  That means you receive a 100% principal guarantee without the downside risk that comes from a direct investment in stocks or mutual funds. 

Should You Consider a Market Index GIC?

Yes, if you are a Member…

►looking for a deposit which offers the potential for a higher return than the rate paid on fixed rate deposits without sacrificing a principal guarantee.

►looking for an equity investment that carries no fees or commissions.

►searching for a diversified investment in Canadian corporations.

►who is comfortable with investing your funds for a 3 or 5-year period.

Who Shouldn’t?

►Members such as retirees who depend on investments for their current income.

►Members who may need their principal back before the 3-year or 5-year term expires.

►Members looking for RRIF investment options, since the Market Index GIC is not redeemable prior to maturity and does not have a guaranteed rate of return, it is ineligible

►Members looking for RRSP investment options who are 67 years of age or older, because the minimum term makes the Market Index GIC ineligible.

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S&P/TSX 60 Index

The S&P/TSX 60 Index tracks sixty foremost companies in leading industries in Canada, providing investors with a broad but manageable index. Click here for details.
 

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