If you want to take advantage of rising interest rates, an interest linked GIC may be the ideal investment. It offers a variable interest rate that is linked to changes in the Royal Bank Prime, which can change during the term of the investment. So, although your principal is 100% guaranteed, the interest earned at maturity is not guaranteed. If the Prime increases you benefit with a higher interest rate. If Prime decreases you can cash out your investment and reinvest in another product.
|Interest Rate-Linked GIC||Details|
|Prime-Linked Cashable GIC®||A cashable GIC whose interest rate is linked to the RBC Royal Bank Canadian prime interest rate. Interest is paid if held for 30 days or longer.|