Your investing questions, our clear answers.

Our response:

While we cannot provide you with advice, you may wish to review the terms of your investment to determine whether there will be any charges or penalties associated with an early redemption prior to maturity.

Visit GetSmarterAboutMoney.ca for more information on Cashing in a GIC Early. You may also wish to speak to a registered representative for advice.

In addition, these previous questions may help provide further insight as you move forward:

• “Can I take out a guaranteed investment at any time?”
• “After withdrawing from my RRSP under the Home Buyers’ Plan (HBP), are the funds that are paid back mine?”
• “We redeemed a 5-year locked-in GIC one year early due to financial hardship. The bank withheld part of the interest – is this allowed?”