Guaranteed Investment Certificates (GIC)

GICs are a great way to protect your money while you earn steady, predictable interest. Zag makes it easy to match any one of our GICs to any of your short- or long-term savings goals.

Zag GIC

Take comfort in knowing exactly how much you’ll earn for up to five years. Choose the Zag GIC and you’ll know exactly how much you’ll earn and when your savings will be available. Zag GICs are protected by the Canadian Deposit Insurance Corporation (CDIC) so your money will be there when you need it.

Zag GIC
Term Today's Rate
6 months 0.75%
9 months 0.80%
1 year 1.20%
2 years 1.30%
3 years 1.50%
4 years 1.60%
5 years 2.00%
Open an account

What’s in it for you?

Buy online with a minimum of just $250

Choose a term from 6 months to 5 years

Automatically renew your GIC at the end of each term

’No fees’ means you save your money— all of it.

What you get Fee
Account opening Free
Account maintenance and online statements Free
Account management with Mobile and Online Banking Free
Retrieval of past statements through Zag Bank Online Banking Free
Customized, automatic alerts and notifications Free

For 1 to 5-year term Zag GICs, interest is annualized, calculated daily, compounded monthly and paid depending on the interest payment option selected by you. You have the option to have interest paid out to your Zag Savings Account (or to the External Account from which the funds originated if you don’t have a Zag Savings Account) either monthly, semi-annually, annually or at maturity. If you choose the monthly payment option, interest is not compounded and becomes calculated as simple interest.

For the Zag Tax-Free GIC and Zag RRSP GIC, interest is annualized, calculated daily, compounded monthly and paid at maturity for 1 to 5-year terms.

For 6 and 9-month term GICs, interest is calculated daily and paid at maturity to your Zag Savings Account (or the External Account from which the funds originated if you don’t have a Zag Savings Account). Interest is calculated as simple interest on 6 and 9-month GICs and therefore is not compounded.

The applicable interest rate is determined on the date on which Zag Bank receives your funds.


Zag Tax-Free GIC

All of the interest that you earn on a Zag Tax-Free GIC is yours to keep because it is not considered income under the rules of the Canada Revenue Agency (CRA).

In 2017, the CRA allows you contribute up to $5,500 towards your Tax Free Savings Account. This includes the Zag Tax-Free GIC. For more information on contribution limits, you can visit the CRA website at cra-arc.gc.ca.

Zag Tax-Free GIC
Term Today's Rate
6 months 0.75%
9 months 0.80%
1 year 1.20%
3 years 1.50%
4 years 1.60%
5 years 2.00%
Open an account

What’s in it for you?

Buy online with a minimum of just $250

Choose a term from 6 months to 5 years

Automatically renew your GIC at the end of each term

’No fees’ means you save your money— all of it.

What you get Fee
Account opening Free
Account maintenance and online statements Free
Account management with Mobile and Online Banking Free
Retrieval of past statements through Zag Bank Online Banking Free
Customized, automatic alerts and notifications Free

For the Zag Tax-Free GIC, interest is annualized, calculated daily, compounded monthly and paid at maturity for 1 to 5-year terms. You have the option to have interest paid out to your Zag Savings Account (or to the External Account from which the funds originated if you don’t have a Zag Savings Account).

For 6 and 9-month term GICs, interest is calculated daily and paid at maturity to your Zag Savings Account (or the External Account from which the funds originated if you don’t have a Zag Savings Account). Interest is calculated as simple interest on 6 and 9-month GICs and therefore is not compounded.

The applicable interest rate is determined on the date on which Zag Bank receives your funds.


Zag RRSP GIC

Whether you’re just starting to save for retirement or want to add steady, predictable investments to your current portfolio, the Zag RRSP GIC is right for you.

For more information on RRSP rules and contribution limits, you can visit CRA’s website at cra-arc.gc.ca.

Zag RRSP GIC
Terms Today's Rate
1 year 1.20%
2 years 1.30%
3 years 1.50%
4 years 1.60%
5 years 2.00%
Open an account

What’s in it for you?

Avoid market volatility

Add stable, fixed-income assets to your plan

Buy online with a minimum of just $250

Choose a term from 1 to 5 years

Automatically renew your GIC at the end of each term

’No fees’ means you save your money— all of it.

What you get Fee
Account opening Free
Account maintenance and online statements Free
Account management with Mobile and Online Banking Free
Retrieval of past statements through Zag Bank Online Banking Free
Customized, automatic alerts and notifications Free

For the Zag RRSP GIC, interest is annualized, calculated daily, compounded monthly and paid at maturity for 1 to 5-year terms. You have the option to have interest paid out to your Zag Savings Account (or to the External Account from which the funds originated if you don’t have a Zag Savings Account).

The applicable interest rate is determined on the date on which Zag Bank receives your funds.