Your investing questions, our clear answers.

Our response:

There is no limit to the amount you may invest in Guaranteed Investment Certificates (GICs). GIC deposits are eligible for coverage up to $100,000 by the Canada Deposit Insurance Corporation (CDIC) at each financial institution if deposited at a member bank of the CDIC . Be aware, if you hold more than $100,000 in GICs from any one financial institution, the excess amount will not be protected against loss. U.S. dollar GICs and GICs with terms longer than 5 years are not insured.

Visit GetSmarterAboutMoney.ca to learn more GICs, investing and financial topics. Speak with a registered financial representative for advice to fit your personal situation.