BMO Guaranteed Investment Certificate (GIC)
| BMO Guaranteed Investment Certificate (GIC) |
|
| Item |
Details |
| Term(s) |
Non-registered: 1 to 10 years
RSP: 6 months to 10 years
RIF: 1 to 10 years
RESP: 1, 2, 3, 4 and 5 years
TFSA: 1 to 10 years |
| Access to Funds
|
Not cashable prior to maturity |
| Interest Payment Option |
Non-registered: Monthly, semi-annually, annually, or compounded annually and paid at maturity.
RSP: Annually to an RSP Savings Account, or compounded annually and paid at maturity.
RIF: Compounded annually and paid at maturity.
RESP: Compounded annually and paid at maturity.
TFSA: Annually to a TFSA Savings Account, or compounded annually and paid at maturity. |
| Minimum Investment Amount |
$1,000; $5,000 if monthly interest payment option chosen*
$500 RESP
*not available for registered investments |
| Plan Eligibility |
RSP / RESP / RIF / TFSA / RDSP |
| Automatic Reinvestment |
Yes, GIC of same term at current interest rate applicable at time of reinvestment (unless other instructions provided) |
| Issued By |
Non-registered: Bank of Montreal Mortgage Corporation, Bank of Montreal or BMO Trust Company
RSP, RESP, TFSA & RDSP: Bank of Montreal Mortgage Corporation
RIF: Bank of Montreal Mortgage Corporation or Bank of Montreal
GICs issued by Bank of Montreal Mortgage Corporation and BMO Trust Company are guaranteed by Bank of Montreal. |
| Transferability |
Yes, Non-registered only |
| Available to Business Banking Client |
Yes, Non-registered only |
| Statements |
RSP & Non-Registered & TFSA: Semi-Annual Statement (January/February & July/August) or Monthly Account Tracker Statement
RIF & RESP: Quarterly Statement |
| Available to Non-Residents |
Yes, Non-registered Annual Pay only |
| Continuous Savings Plan Option |
No
RESP only (If you choose to purchase GICs through the continuous savings plan, GIC contributions will accumulate in a BMO Bank of Montreal Daily Interest Savings Account for the Planholder and a GIC will automatically be purchased for the Planholder when the $500 minimum amount is reached.) |
| Guaranteed By |
Bank of Montreal (BMO) |
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