Definitions for "Guaranteed Investment Certificate"
Securities or deposit instruments issued by financial institutions that require a minimum investment and that pay a specified rate of interest for a specified term.
Investments offered by banks, trust companies and other financial institutions, which pay a predetermined rate of interest for a specified term and are usually not redeemable prior to the maturity date.
A deposit instrument requiring a minimum investment at a pre-determined rate of interest for a stated term; most commonly available from banks and trust companies.