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Investments glossary

Guaranteed Investment Contract (GIC) Definition


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Quotes of the day:

I\'m in favor of legalizing drugs. According to my values system, if people want to kill themselves, they have every right to do so. Most of the harm that comes from drugs is because they are illegal.

— Milton Friedman

A guaranteed investment contract (GIC) is an insurance company provision that guarantees a rate of return in exchange for keeping a deposit for a certain period. A GIC appeals to investors as a replacement for a savings account or U.S. Treasury securities. GICs are also known as funding agreements.


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