{"id":801565,"date":"2019-08-28T00:39:34","date_gmt":"2019-08-28T04:39:34","guid":{"rendered":"https:\/\/www.finder.com\/ca\/?page_id=801565"},"modified":"2026-03-09T18:33:09","modified_gmt":"2026-03-09T22:33:09","slug":"rrsp-gic","status":"publish","type":"post","link":"https:\/\/www.finder.com\/ca\/gics\/rrsp-gic","title":{"rendered":"RRSP GIC guide"},"content":{"rendered":"<p>When it comes to saving for retirement, you don\u2019t want to handle your money recklessly. That\u2019s why low-risk investments like Guaranteed Investment Certificates (GICs) held in tax-sheltered accounts like Registered Retirement Savings Plans (RRSPs) are so appealing.<\/p><p>With an RRSP GIC, you lock up funds for a fixed period with a guaranteed rate of return. Furthermore, funds are tax deductible the year you invest.<\/p><p>A GIC RRSP guarantees your principal and is a low-risk option for any diversified portfolio. Let\u2019s break down how an RRSP GIC works and what to be aware of before locking up your money.<\/p><h3>What is an RRSP GIC?<\/h3><p>An RRSP GIC is a <a href=\"https:\/\/www.finder.com\/ca\/gics\">Guaranteed Investment Certificate<\/a> held in a <a href=\"https:\/\/www.finder.com\/ca\/savings-accounts\/rrsp\">Registered Retirement Savings Plan<\/a> account. A GIC locks up funds for a pre-determined period of time (\u201cterm\u201d) to earn interest at a fixed or variable interest rate<button class=\"btn-link text-no-decoration\" style=\"vertical-align: top; position: relative; top: -3px; left: 1px;\" rel=\"popover\" data-content=\"Fixed rates offer a predictable, unchanging return. Variable rates (often offered with market-linked GICs) fluctuate with market conditions.\" data-placement=\"top\" aria-label=\"More information\" aria-describedby=\"fin-tooltip-1\">\n    <svg class=\"luna-icon luna-icon--xsmall\" aria-hidden=\"true\">\n        <use href=\"#info\"><\/use>\n    <\/svg>\n    <span class=\"u-screenReader\" id=\"fin-tooltip-1\">Fixed rates offer a predictable, unchanging return. Variable rates (often offered with market-linked GICs) fluctuate with market conditions.<\/span>\n<\/button>, after which, the entire amount is paid to you\u2014both principal and interest.<\/p><p>Holding this type of investment in an RRSP comes with two important tax advantages:<\/p><ol><li>Money invested in RRSP GICs are tax deductible the year you invest.<\/li><li>You don\u2019t have to pay income tax on interest earned from an RRSP GIC.<\/li><\/ol><p>As per RRSP rules, you\u2019re only hit with income tax when you withdrawals funds.<\/p><p>RRSP GICs are considered a good way to balance out your portfolio\u2019s risk. This is because GICs guarantee your principal investment, so you can rest assured that you won\u2019t lose any money if the market goes down.<\/p><h4>GIC vs. RRSP<\/h4><p>How is a GIC different to an RRSP, and which is better? <strong>A GIC is a type of investment<\/strong> that can be held in a number of accounts like RRSPs, Tax-Free Savings Accounts (TFSAs) and regular savings accounts.<\/p><p>On the other hand, <strong>an RRSP is a type of account<\/strong> that can hold deposits and assets like GICs, cash, bonds, stocks and mutual funds.<\/p><p>So, you don\u2019t have to choose between getting a GIC or an RRSP. You can hold a GIC in an RRSP. You can also hold a GIC in other accounts, or open an RRSP to hold other types of assets or investments.<\/p><p>To summarize, here are the pros and cons of investing in a GIC RRSP.<\/p><div class=\"u-grid\"><div class=\"u-grid__col u-1\/2@s\"><strong>Pros of RRSP GICs<\/strong><ul class=\"list-1\"><li>Earn interest and grow your retirement savings.<\/li><li>Low risk. Your principal is guaranteed against loss.<\/li><li>Investments are tax deductible.<\/li><li>Interest earnings are tax deferred.<\/li><\/ul><\/div><div class=\"u-grid__col u-1\/2@s\"><strong>Cons of RRSP GICs<\/strong><ul class=\"list-3\"><li>Low interest compared to other investments like stocks and funds.<\/li><li>Low liquidity. Funds are locked in for a fixed time.<\/li><li>Withdrawals are taxable. Tax rates are steep for pre-retirement withdrawals.<\/li><\/ul><\/div><\/div><h3>Why invest in an RRSP GIC?<\/h3><p>You may decide to invest your money in an RRSP to save for your retirement and defer your taxes during your working years when you earn a higher income. RRSP GICs can help guarantee your principal and give you a favourable return on interest. This type of investment is typically made alongside higher-risk equities and mutual funds to round out your portfolio.<\/p><p>One of the best things about a GIC is that it allows you to choose how much risk you want to take, while still protecting your principal investment. For example, a fixed rate GIC offers a predictable return (often less than 1% to over 4%). A market-linked GIC can potentially offer much higher interest if the market is doing well, but returns will be flat if the market is sluggish.<\/p><p>Both fixed and variable rate GICs are suitable if you want to protect money you\u2019ve already invested in an RRSP as you approach retirement. An RRSP GIC is also be a good fit if the market isn\u2019t doing very well, and you want to shelter your money from losses until conditions improve.<article class=\"luna-card luna-card--primary luna-card--border\">\n  <div class=\"luna-card__block\" style=\"padding:0.7em\">\n<span style=\"font-size:0.9em; font-weight: 800; font-style: italic; text-transform: uppercase;\">Related: <\/span><a href=\"https:\/\/www.finder.com\/ca\/gics\/how-does-a-gic-ladder-work\" style=\"text-decoration:underline; font-size:0.9em;\">How to boost your earnings with GIC laddering<\/a>\n<\/div>\n<\/article><style type=\"text\/css\">\n    .survey-response {\n        overflow-x: auto;\n        max-width: 800px;\n    }\n\n    .survey-response .luna-table th,\n    .survey-response .luna-table td {\n        padding: 0.3rem 1rem calc(0.20rem + 1px);\n        font-size: 12px;\n        color: rgb(117, 117, 117);\n        text-align: left;\n    }\n\n    .survey-response .luna-table {\n        border: none;\n    }\n\n    .survey-response .row-color-icon {\n        width: 10px;\n        height: 10px;\n        display: inline-block;\n        margin-right: 4px;\n        border-radius: 2px;\n    }\n\n    .survey-response .source-container {\n        top: -12px !important;\n        position: relative;\n    }\n\n    .survey-response .source {\n        color: rgb(108, 120, 129);\n        font-size: 11px;\n    }\n\n    .survey-response .source-link {\n        color: rgb(2, 113, 225);\n        font-size: 11px;\n        text-decoration: underline;\n    }\n\n    @media (min-width: 600px) {\n        .survey-response .border-fix {\n            border-radius: 12px;\n            border: 1px solid var(--light-divider-normal, #E5E7EB);\n            background: var(--light-background-main, #FFF);\n            padding: 0px\n        }\n    }\n\n    .survey-response .chart-container {\n        min-height: 250px;\n        border-radius: 12px;\n        border: 1px solid var(--light-divider-normal, #E5E7EB);\n        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id=\"scale-surveys-10028-9411\" class=\"survey-response u-grid u-grid--gutterLarge\"><div id=\"view-do-you-currently-have-money-in-any-of-the-following-outside-of-your-rrsp-pension-or-other-retirement-fund--age-\" class=\"u-grid__col u-1\/2@s u-1\/1 aligncenter size-full chart-container\" style=\"max-width: 445px;\"><\/div><style>\n\t\t\t\t#scale-surveys-10028-9411 text,\n\t\t\t\t#scale-surveys-10028-9411 svg text,\n\t\t\t\t#view-do-you-currently-have-money-in-any-of-the-following-outside-of-your-rrsp-pension-or-other-retirement-fund--age- text,\n\t\t\t\t#view-do-you-currently-have-money-in-any-of-the-following-outside-of-your-rrsp-pension-or-other-retirement-fund--age- svg text {\n\t\t\t\t\tfont-family: 'Modern Era', sans-serif !important;\n\t\t\t\t}\n\t\t\t<\/style><script type=\"text\/javascript\">\n\t\t\t\t(function() {\n\n\t\t\t\t\tvar packageToLoad = 'bar';\n\t\t\t\t\tvar eventName = 'GoogleChartsLoaded-' + packageToLoad;\n\t\t\t\t\tvar event = new Event(eventName);\n\n\t\t\t\t\tdocument.addEventListener(eventName, function() {\n\t\t\t\t\tconsole.log('called event!', eventName);\n\n\t\t\t\t\tfunction drawChart() {\n\t\t\t\t\t\tvar chartType = '';\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tvar data = google.visualization.arrayToDataTable([\n\t\t\t\t\t\t\t[\" \", \"Gen Z\", \"Gen Y\", \"Gen X\", \"Baby Boomers\", ],\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t[\"GICs\", 10.32, 15.22, 19.92, 19.02, ],\n\t\t\t\t\t\t\t\t\t\t\t\t\t]);\n\t\t\t\t\t\t\n\t\t\t\t\t\tvar options = {\n\t\t\t\t\t\t\tlegend: {\n\t\t\t\t\t\t\t\tposition: 'none'\n\t\t\t\t\t\t\t},\n\t\t\t\t\t\t\tcolors: ['#1D53FF', '#00B2FF', '#FFD23B', '#C3F53C', '#B469FF', '#FF73A9', '#1DD751', '#DB2420', '#E5F7FF', '#FFF9E5', '#EEF5DC', '#F2E5FF', '#FFE5EF']\n\t\t\t\t\t\t};\n\n\t\t\t\t\t\tvar chart;\n\t\t\t\t\t\t\t\t\t\t\t\tchart = new google.charts.Bar(document.getElementById('view-do-you-currently-have-money-in-any-of-the-following-outside-of-your-rrsp-pension-or-other-retirement-fund--age-'));\n\t\t\t\t\t\t\/\/ Bar chart specific options can go here\n\t\t\t\t\t\toptions.bars = 'vertical';\n\t\t\t\t\t\toptions.hAxis = {\n\t\t\t\t\t\t\tviewWindowMode: 'maximize',\n\t\t\t\t\t\t\tformat: '#,###\\'%\\'',\n\t\t\t\t\t\t\ttitle: '',\n\t\t\t\t\t\t\ttextStyle: {\n\t\t\t\t\t\t\t\tfontName: 'Modern Era',\n\t\t\t\t\t\t\t\tfontSize: 12\n\t\t\t\t\t\t\t}\n\t\t\t\t\t\t};\n\t\t\t\t\t\toptions.vAxis = {\n\t\t\t\t\t\t\tformat: '#,###\\'%\\'',\n\t\t\t\t\t\t\ttextStyle: {\n\t\t\t\t\t\t\t\tfontName: 'Modern Era',\n\t\t\t\t\t\t\t\tfontSize: 12\n\t\t\t\t\t\t\t}\n\t\t\t\t\t\t};\n\t\t\t\t\t\t\n\t\t\t\t\t\tchart.draw(data, (chartType == 'pie') ? options : google.charts.Bar.convertOptions(options));\n\t\t\t\t\t}\n\t\t\t\t\t\tdrawChart();\n\t\t\t\t\t});\n\n\t\t\t\t\tfunction init() {\n\t\t\t\t\t\tconsole.log('calling init', eventName);\n\t\t\t\t\t\tif (typeof google !== 'undefined' && google.charts) {\n\t\t\t\t\t\t\tconsole.log('found charts', google, packageToLoad);\n\t\t\t\t\t\t\tgoogle.charts.load('current', {'packages':[packageToLoad]});\n\t\t\t\t\t\t\tgoogle.charts.setOnLoadCallback(function() {\n\t\t\t\t\t\t\t\tdocument.dispatchEvent(event);\n\t\t\t\t\t\t\t});\n\t\t\t\t\t\t} else {\n\t\t\t\t\t\t\tconsole.log('retrying');\n\t\t\t\t\t\t\tsetTimeout(init, 100);\n\t\t\t\t\t\t}\n\t\t\t\t\t}\n\t\t\t\t\tinit();\n\t\t\t\t})()\n\t\t\t<\/script><div class=\"u-grid__col u-1\/2@s  u-1\/1 aligncenter size-full border-fix table-container\"><table class=\"luna-table js-tablesorter tablesorter tablesorter-default\" role=\"grid\"><thead class=\"luna-table__header\"><tr><th>Response<\/th><th><span class=\"row-color-icon\" style=\"background-color: #1D53FF;\"><\/span>Gen Z<\/th><th><span class=\"row-color-icon\" style=\"background-color: #00B2FF;\"><\/span>Gen Y<\/th><th><span class=\"row-color-icon\" style=\"background-color: #FFD23B;\"><\/span>Gen X<\/th><th><span class=\"row-color-icon\" style=\"background-color: #C3F53C;\"><\/span>Baby Boomers<\/th><\/tr><\/thead><tbody class=\"luna-table__body\" aria-live=\"polite\" aria-relevant=\"all\"><tr><td>GICs<\/td><td>10.32%<\/td><td>15.22%<\/td><td>19.92%<\/td><td>19.02%<\/td><\/tr><\/tbody><\/table><\/div><div class=\"source-container\"><span class=\"source\">Source: Finder survey by Pollfish of 1846 Canadians, January 2023\t\t<\/span><\/div><\/div><h3>How to compare RRSP GICs<\/h3><p>You can look at a number of factors to find the best deal on your next RRSP GIC.<\/p><ul class=\"list-7\"><li><strong>Fixed or variable rate.<\/strong> Fixed rates will offer a predictable return over the course of your term, while variable rates will fluctuate based on how well the market is doing.<\/li><li><strong>Length of term.<\/strong> You can typically take out an RRSP GIC for anywhere from 3 months to 10 years, with longer terms typically offering better interest rates.<\/li><li><strong>Minimum investment.<\/strong> You may be required to invest a minimum amount to get your GIC up and running (often $500 or more).<\/li><li><strong>Redemption type.<\/strong> Cashable GICs (also called redeemable GICs) let you take out money any time without penalty. Non-redeemables are a bit more strict about when you can redeem but typically offer higher interest rates.<\/li><li><strong>Payment frequency.<\/strong> You might be able to choose how often you receive interest payments, with money paid out monthly, yearly or when the GIC matures.<\/li><li><strong>Renewal process.<\/strong> Some GICs automatically roll over upon maturity, while others need to be cashed out and reinvested if you want to keep earning.<\/li><\/ul><h3>Things to avoid with RRSP GICs<\/h3><p>RRSP GICs are a safe and secure way to invest your money, but there are a couple of things you should be aware of before leaping in.<\/p><ul class=\"list-3\"><li><strong>Lower return.<\/strong> If you go with a fixed term, you could end up making less than if you invest in higher risk equities or a market-linked product.<\/li><li><strong>Limited access to funds.<\/strong> It can be difficult to get money out of an RRSP GIC once it\u2019s invested, especially if your GIC is non-redeemable.<\/li><li><strong>Unable to cope with inflation.<\/strong> GICs that are invested over long terms could result in a net loss on your investment after factoring in the cost of inflation.<\/li><li><strong>Interest subject to taxation.<\/strong> Any interest earned on your RRSP GIC will be taxed as part of your income when you withdraw the money in retirement.<\/li><\/ul><h3>Bottom line<\/h3><p>RRSP GICs are a suitable option if you\u2019re looking for a tax-advantaged way to invest for retirement without losing your principal. But you might want to <a href=\"https:\/\/www.finder.com\/ca\/investments\">explore other investment options<\/a> if you\u2019re willing to take on more risk to potentially gain higher rewards.<\/p><h3>FAQs about RRSP GICS<\/h3><ul class=\"luna-accordionGroup accordionGroup\">\n\t<li class=\"luna-accordion\" data-accordion=\"accordion\">\n    <div class=\"luna-accordion__summary\">\n        <h4 class=\"luna-accordion__heading\">\n            <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"faq-builder-0000000000\" data-toggle=\"collapse\" data-target=\"#faq-builder-0000000000\">\n                <span class=\"luna-accordion__title\">What's the difference between an RRSP GIC and a taxable GIC?<\/span>\n                <svg class=\"luna-icon\" aria-hidden=\"true\">\n                    <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n                    <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n                <\/svg>\n            <\/button>\n        <\/h4>\n    <\/div>\n    <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"faq-builder-0000000000\" data-accordion=\"details\">\n        <div class=\"accordionContent\">\n            <div>\n                <p>Interest earned from RRSP GICs isn't taxed by the federal government until you withdraw it. This means you'll earn more with an RRSP GIC than you might earn with a taxable GIC. Additionally, the money you put into an RRSP is tax-deductible the year you invest, but you'll similarly pay tax when you withdraw it.<\/p>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/li>\n<li class=\"luna-accordion\" data-accordion=\"accordion\">\n    <div class=\"luna-accordion__summary\">\n        <h4 class=\"luna-accordion__heading\">\n            <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"faq-builder-0000000001\" data-toggle=\"collapse\" data-target=\"#faq-builder-0000000001\">\n                <span class=\"luna-accordion__title\">How can I get the best interest rates on my RRSP GIC?<\/span>\n                <svg class=\"luna-icon\" aria-hidden=\"true\">\n                    <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n                    <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n                <\/svg>\n            <\/button>\n        <\/h4>\n    <\/div>\n    <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"faq-builder-0000000001\" data-accordion=\"details\">\n        <div class=\"accordionContent\">\n            <div>\n                <p>Your best bet if you want to lock in decent interest rates is to invest in a long-term, non-redeemable GIC. It also helps to compare rates and account fees between at least 3-4 financial institutions to find the best deal.<\/p>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/li>\n<li class=\"luna-accordion\" data-accordion=\"accordion\">\n    <div class=\"luna-accordion__summary\">\n        <h4 class=\"luna-accordion__heading\">\n            <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"faq-builder-0000000002\" data-toggle=\"collapse\" data-target=\"#faq-builder-0000000002\">\n                <span class=\"luna-accordion__title\">What happens if I take out my money before the GIC matures? <\/span>\n                <svg class=\"luna-icon\" aria-hidden=\"true\">\n                    <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n                    <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n                <\/svg>\n            <\/button>\n        <\/h4>\n    <\/div>\n    <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"faq-builder-0000000002\" data-accordion=\"details\">\n        <div class=\"accordionContent\">\n            <div>\n                <p>Once your money is invested in an RRSP, it can't be withdrawn without penalty. Make sure you're ready to lock in your money for the long-term before putting it into an RRSP GIC.<\/p>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/li>\n<li class=\"luna-accordion\" data-accordion=\"accordion\">\n    <div class=\"luna-accordion__summary\">\n        <h4 class=\"luna-accordion__heading\">\n            <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"faq-builder-0000000003\" data-toggle=\"collapse\" data-target=\"#faq-builder-0000000003\">\n                <span class=\"luna-accordion__title\">Is it better to hold low-risk GICs or high-risk equities in my RRSP?<\/span>\n                <svg class=\"luna-icon\" aria-hidden=\"true\">\n                    <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n                    <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n                <\/svg>\n            <\/button>\n        <\/h4>\n    <\/div>\n    <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"faq-builder-0000000003\" data-accordion=\"details\">\n        <div class=\"accordionContent\">\n            <div>\n                <p>There is no \"one size fits all\" way to invest, since everyone has different financial priorities and needs. That being said, most investors opt to hold a combination of equities, stocks, bonds, mutual funds and GICs in their RRSPs.<\/p><p>In the beginning stages of investing, it can make more sense to invest in higher-risk products that have the potential to earn higher interest rates. As you reach your savings goals, it might be worth transitioning into low-risk GICs to protect your money against market fluctuations.<\/p>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/li>\n\n<\/ul>\n<div id=\"sources\" style=\"position: relative;\"><h3 style=\"position: absolute; width: 1px; height: 1px; padding: 0; margin: -1px; overflow: hidden; clip: rect(0,0,0,0); white-space: nowrap; border: 0;\">Sources<\/h3>\n<div id=\"lazy0000000004\"><\/div>\n<script type=\"application\/json\" id=\"lazyloaded-assets-json-lazy0000000004\" class=\"lazyloaded-assets-json\">{\"critical-scripts\":[],\"scripts\":[\"https:\\\/\\\/www.finder.com\\\/parent-theme\\\/shortcodes\\\/article-source\\\/prod\\\/article-source.de087a0da9824e407767.js\"],\"styles\":[\"https:\\\/\\\/www.finder.com\\\/parent-theme\\\/shortcodes\\\/article-source\\\/prod\\\/article-source.87684078d471e76125dd.css\"]}<\/script><\/div>\n<div class=\"contentFeed contentFeed--relatedPosts\">\n            <h3 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Find out how an RRSP GIC works.<\/p>\n","protected":false},"author":474,"featured_media":1044190,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"apple_news_api_created_at":"","apple_news_api_id":"","apple_news_api_modified_at":"","apple_news_api_revision":"","apple_news_api_share_url":"","apple_news_cover_media_provider":"image","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_cover_video_id":0,"apple_news_cover_video_url":"","apple_news_cover_embedwebvideo_url":"","apple_news_is_hidden":"","apple_news_is_paid":"","apple_news_is_preview":"","apple_news_is_sponsored":"","apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"","apple_news_slug":"","apple_news_sections":[],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"post_is_fact_checked":"false","post_co_author":"685","post_co_author_date":"2024-09-02T17:05:53","post_co_author_manual_date_checked":null,"post_reviewer":"-1","post_reviewer_date":"","post_reviewer_manual_date_checked":null,"post_editor":"-1","post_editor_date":null,"post_author_date":"","post_author_manual_date_checked":"false","footnotes":""},"categories":[5961],"tags":[107289,3721],"asset_tag":[],"class_list":["post-801565","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gics","tag-fsa-feed","tag-retirement"],"apple_news_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.6 (Yoast SEO v27.6) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>RRSP GIC: Invest for Retirement With No Risk of Loss | Finder<\/title>\n<meta name=\"description\" content=\"An RRSP GIC is an interest-bearing investment held in a retirement savings account. 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We compare everything from bank accounts, personal loans, investing platforms and much more.\",\"email\":\"heythere@finder.com\",\"legalName\":\"Finder\",\"foundingDate\":\"2006-01-01\",\"numberOfEmployees\":{\"@type\":\"QuantitativeValue\",\"minValue\":\"51\",\"maxValue\":\"200\"}},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.finder.com\\\/ca\\\/#\\\/schema\\\/person\\\/252a43e10a819c05764a610c2b59e414\",\"name\":\"Claire Horwood\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/cdn.finder.com.au\\\/finder-us\\\/wp-uploads\\\/2025\\\/11\\\/ClaireHorwoodF1_Finder_600x600.png\",\"url\":\"https:\\\/\\\/cdn.finder.com.au\\\/finder-us\\\/wp-uploads\\\/2025\\\/11\\\/ClaireHorwoodF1_Finder_600x600.png\",\"contentUrl\":\"https:\\\/\\\/cdn.finder.com.au\\\/finder-us\\\/wp-uploads\\\/2025\\\/11\\\/ClaireHorwoodF1_Finder_600x600.png\",\"caption\":\"Claire Horwood\"},\"description\":\"Claire Horwood was a writer at Finder, specializing in credit cards, loans and other financial products. She has a Bachelor of Arts in Gender Studies from the University of Victoria, and an Associate\u2019s Degree in Science from Camosun College. Much of Claire\u2019s coursework has focused on writing and statistics, with a healthy dose of social and cultural analysis mixed in for good measure. 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She has a Bachelor of Arts in Psychology and Writing, and she has completed FP Canada Institute's Financial Management Course. Before working in the publishing industry, Stacie completed one year of law school in the United States. 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This means you'll earn more with an RRSP GIC than you might earn with a taxable GIC. Additionally, the money you put into an RRSP is tax-deductible the year you invest, but you'll similarly pay tax when you withdraw it.\\r\"}},{\"@type\":\"Question\",\"name\":\"How can I get the best interest rates on my RRSP GIC?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"\\rYour best bet if you want to lock in decent interest rates is to invest in a long-term, non-redeemable GIC. It also helps to compare rates and account fees between at least 3-4 financial institutions to find the best deal.\\r\"}},{\"@type\":\"Question\",\"name\":\"What happens if I take out my money before the GIC matures? \",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"\\rOnce your money is invested in an RRSP, it can't be withdrawn without penalty. Make sure you're ready to lock in your money for the long-term before putting it into an RRSP GIC.\\r\"}},{\"@type\":\"Question\",\"name\":\"Is it better to hold low-risk GICs or high-risk equities in my RRSP?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"\\rThere is no \\\"one size fits all\\\" way to invest, since everyone has different financial priorities and needs. That being said, most investors opt to hold a combination of equities, stocks, bonds, mutual funds and GICs in their RRSPs.\\r\\rIn the beginning stages of investing, it can make more sense to invest in higher-risk products that have the potential to earn higher interest rates. 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