The Pros And Cons Of A GIC - Should You Own One?

Super helpful!

Thanks for this explanation. Good stuff👍

Nice but i am new to investing, and i am a conservative interms on that. Lets say i have 40k in my high interest savings account, i want to open tfsa account and open gic on that tfsa account with a amount of 20k, the bank told they can give 5.10 percent for 1 year lock in. My question is does my 20k is safe with this investment?

Garanteed income and at 5.35% for one year on EQ banking , I concider it a win, specially if you are parking cash 1-2yrs