OMG! DreamStreet! :) I loved these guys, they were my One Direction . . . haha, no one can replace BSB in my heart, but there's a very special place for Jesse McCartney, even 10 plus years later!!!!! :)
GIC stands for for Guaranteed Investment Certificate. It is a way for the bank to raise money so they can lend it out to you as a personal loan, mortgage, or credit card. You'll notice that the rate the bank pays you is always lower than the rate they charge you when you need money.
Q7 What is a synthetic GIC? Return to top. A synthetic GIC is an investment for tax-qualified, defined contribution pension plans consisting of two parts: an asset owned directly by the plan trust and a wrap contract providing book value protection for participant withdrawals prior to maturity.