Are GICs a good investment with interest rates so high?
BNN Bloomberg
Interest in guaranteed investment certificates – or GICs – is booming as investors navigate a high interest rate environment and volatile economic conditions. But have higher interest rates really made GICs a more enticing place to park your money?
Finance experts told BNNBloomberg.ca that shorter-term GICs have gotten a boost from elevated central bank interest rates, but cautioned that investors should think carefully about what options fit best with their personal money goals.
WHAT IS A GIC?
“GICs are great as a low-risk investment,” said Natasha Macmillan, business director of everyday banking at Ratehub.ca, said in a telephone interview.
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