How does investing in GIC’s with banks help in attaining your future savings goa

Posted by Gicdirect on December 1st, 2020

Share prices do fluctuate once in a while, which is why investing in them involves high risk. On the other hand, if you are looking for aninvestmentthat does not fluctuate with the interest amount then go with the GIC’s. The principal amount that you are about to invest shall staysecure and can be obtained along with the cumulated interest amount by the end of the term period. Below-mentioned is a set of benefits that will let you understand the need to look for a banking institution offering the best GIC rates at Victoria.

Multiple guarantees provided: By choosing to invest with banks offering the best GIC rates in Victoria you shall get hold of different guarantees under one roof. One is the principal amount which can be attained as it is after signing up the withdrawal form once the signed term period comes to an end. Compared to other investment options, the about to be matured interest value can be wisely calculated in GIC’s even before completing the investment process. You just have to pick the principal amount that you can conveniently invest now, along with the term period to achieve the required financial goal in the upcoming future at ease.

Two convenient investment options: The GIC rates at Victoria as offered by the banking institutions tend to vary based upon the chosen term length. As a valid depositor, you have to pick the term length accordingly, be it sixty days one or ten years, depending upon your future financial beneficiaries. Non-redeemable and redeemable are the two different kinds of GIC’s that you get to invest upon.

In the redeemable type of GIC, you get an option to withdraw the investment principal amount and the interest amount matured till the date of withdrawal, with a small penalty amount deducted for taking such decisions.

In the non-redeemable type of GIC, you can only withdraw the principal and matured interest amount when the signed term period ends. One noteworthy thing about the non-redeemable type of GIC is that it offers higher GIC rates, irrespective of the length of the term period you have chosen in the first place.

Laddering strategy to attain the best GIC rate: Phenomenal GIC rates in Victoria can be achieved by practicing the laddering methodology. This genuine investment strategy involves splitting up the investment amount into more than one sub-value, which brings in the possibility to attain multiple GIC rates by choosing varied term periods.

GIC Direct hosts an in-house team of GIC specialists who shall listen to your investment needs and help in finding the exact bank that offers valuable GIC rates. Once you have decided to work with them, they shall take care of all the documentation process on your behalf, taking down such burden away from your shoulders.

John Smith is the author of this article. To know more about gic rates victoria please visit our website.