Term Deposits, also called GICs, guarantee a set interest rate over a fixed period of time, allowing for flexible, secure, and profitable investing. A Term Deposit can be for 1 to 5 years, with rates varying based on the length of the term – usually the longer the term, the better the interest rate.
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Investors looking for a higher potential return should consider Index-Linked Term Deposits - while only the principal is guaranteed, it’s a great equity-linked investment option with no fees or commissions.
To learn more about term deposits, check out our Fwd: articles, written by our own Copperfin Advisors.