Your Selections

To start setting up the laddering, we make use of the available amount you specify to make five initial GIC purchases, each using equal deposit amounts (dividing the specified amount by 5). To begin the demonstration, provide a lump sum in the field below (and optionally, you can change the interest payment mode as well). The results that follow will re-adjust automatically.

Select the Interest Periods per year.
Select the Deposit Amount (or enter your own value).
  or $

Note: Products with the highest rates that meet the minimum deposit amount were selected (higher rates are also available if deposit amounts are increased).
Setting up the Ladder: GIC Purchase Selections

Using the amount to invest and the payment mode you provided above, we now divide that amount by 5, and select the highest-rate GICs currently available that meet or exceed their minimum required purchase amounts, for one to five year terms. Below, we show the best-suited products currently available in our GIC rate table.

Purchased GIC DetailsAmount
Placed		Annual
Interest
MCAN Mortgage Corp.
1 Year, $5000 minimum, 4.050% interest		$10000$405.00
MCAN Mortgage Corp.
2 Year, $5000 minimum, 3.850% interest		$10000$385.00
IC Savings (Agent)
3 Year, $10000 minimum, 3.580% interest		$10000$358.00
MCAN Mortgage Corp.
4 Year, $5000 minimum, 3.610% interest		$10000$361.00
MCAN Mortgage Corp.
5 Year, $5000 minimum, 3.550% interest		$10000$355.00

The chart below shows the amount of interest gained each year from the five purchased investments, which becomes available income for re-investing once each GIC matures, into a five-year GIC at the best available rate. (This is explained in more detail in the timetable that follows.)

Fifth YearFourth YearThird YearSecond YearFirst Year063125188250313375438500563625688750813875938100010631125118812501313137514381500156316251688175018131875
Developing the Ladder: Timetable of Events

Since we know how much interest will be available from the intial investments, we can now demonstrate how the ladder develops as the years pass. Below, we show the major events of the first three years.

Time Period and Notable Events
First year begins
  • 5 GICs purchased, each using 1/5th of the specified amount to invest.
First year ends
  • Interest income from the 5 purchased GIC investments amounts to $1864.00.
  • The 1-year term GIC matures.
    The money invested in the 1-year GIC is then used to purchase a 5-year GIC, at the highest rate available.
  • Optionally, the purchase amount on the new GIC could be increased to include the interest income from the entire year ($10000 + 1864.00 equals a potential purchase amount of $11864.00).
Second year ends
  • Interest income from the remaining 4 original GIC investments amounts to $1459.00.
  • The 2-year term GIC matures.
    The money invested in the 2-year GIC is then used to purchase a 5-year GIC at the highest rate available.
  • Optionally, the purchase amount on the new GIC could be increased to include the interest income from the entire year ($10000 + $1459.00 + the interest amount from the 5-year GIC purchased at the end of year 1).
Third year ends
  • Interest income from the remaining 3 original GIC investments amounts to $1074.00.
  • The 3-year term GIC matures.
    The money invested in the 3-year GIC is then used to purchase a 5-year GIC at the highest rate available.
  • Optionally, the purchase amount on the new GIC could be increased to include the interest income from the entire year ($10000 + $1074.00 + the interest amounts from the 5-year GICs purchased at the end of years 1 and 2).