DCHP-2

guaranteed investment certificate Guaranteed Investment Certificate, GIC, G.I.C. DCHP-2 (October 2016)

• n. — Finance

  an investment option that offers a fixed rate of interest over a fixed term.

  Type: 1. Origin — The product has been offered by Canadian banks since the 1950s (see Image 1). The term is almost exclusively used in Canada (see Chart 1), though similar products exist elsewhere. In the US, for instance, such fixed-term investments are generally known as Certificates of Deposit.

  See also: GIC