Your investing questions, our clear answers.

Our response:

See this previous question related to redeeming a GIC early.

Because guaranteed investment certificates (GICs) are not considered securities, but rather a banking product, the Ontario Securities Commission does not regulate this type of investment. We suggest you speak to your financial institution (typically the bank where you purchased the GIC) for specific questions related to your investment.

If you have a complaint about your GIC, it may be helpful for you to know that complaints about banks and banking products should be directed to the Financial Consumer Agency of Canada (FCAC). Learn how to contact the FCAC.