There isn't a specific age requirement to apply for a Guaranteed Investment Certificate (GIC) in Canada.
Anyone, regardless of age, can open a GIC account as long as they meet the minimum investment requirements set by the financial institution.
However, some financial institutions might have age restrictions for certain types of GICs, such as those with specific investment terms or maturity periods.
It's always best to contact the financial institution directly to confirm their specific eligibility criteria.
Here are some things to consider when applying for a GIC:
- Minimum investment amount: Most financial institutions have a minimum investment amount for GICs.
- Maturity period: The length of time you agree to keep your money invested.
- Interest rate: The rate of return you will earn on your investment.
- Risk tolerance: GICs are generally considered a low-risk investment, but it's important to understand your own risk tolerance before investing.
For more information about GICs, you can refer to the following resources:
- [Financial institution websites]
- [Canadian Securities Administrators (CSA)]
- [Investment Industry Regulatory Organization of Canada (IIROC)]
