To invest in a Tangerine GIC, you can start by reviewing all of their GIC options to see which is best for you in your stage of life and your financial goals. If you already have a savings account set up with Tangerine that suits a particular GIC the most, for example, a tax-free GIC for a TFSA, that may be one place to start. But even if you don’t have an account with Tangerine, you can still open a GIC and have your principal and interest sent back to you at maturity via a bank draft.
Once you choose which GIC is best for you, do the following:
1. Click “Open an Account” on the corresponding page online.
2. You’ll be asked a number of questions, like whether you’ve double-checked your contribution limit for the year if you’re investing in a registered account
3. Select which term you’re interested in, how much you want to deposit, and which account your money will come from.
4. Select whether you want the GIC term to renew at maturity or to have it paid out. If you choose the latter, you’ll select which account you want your investment to be paid out to at maturity.
5. Submit the information, and a new account will open with your GIC balance.