The Daily Interest Account and Guaranteed Interest Account offer a safe and stable investment. These low-risk investment options provide competitive interest rates and protection from market volatility. 

 

Notable features

  • Highly competitive interest rates
  • No policy fees
  • Rate guarantees
  • Flexible-access to your investments anytime
  • Creditor protection
  • Safe and secure
  • Estate planning
  • Compounded or simple interest payout option available

 

Investment options

  • Daily Interest Account (DIA)  

The DIA offers clients a short-term savings solution. It is also ideal for emergency savings. Clients who have not yet defined their goals may find DIAs ideal since money may be withdrawn at any time. 

  •  Guaranteed Interest Account (GIA)   

For clients with a low-risk tolerance or who are looking to diversify their portfolio to include guaranteed holdings, a GIA might be the solution. Clients choose a 1- to 15-year2 term and receive a competitive guaranteed interest rate.  

Compound interest or simple interest3 options are available. The simple interest option pays interest on a monthly or annual basis.  

GIAs are held until the end of the term selected. If needed, clients can withdraw money prior to the maturity date, but a market value adjustment applies. 

 

Benefits of Investing 

  • Savings Stability 
    GIA and DIA deposits are guaranteed and offer clients a low-risk investment option. 
  • Competitive Interest Rates 
    Every dollar invested earns a competitive interest rate, and clients with large deposits can access further enhanced rates4. For upcoming maturities or transfers, the current interest rate can be locked-in for up to 45 days. 
  • Creditor Protection 
    Creditor protection may be available for the contract owner in the event of a bankruptcy or lawsuit. Creditor protection is not guaranteed and is dependent on several factors including, the designation of the annuitant’s spouse, child, parent, or grandchild as beneficiary5. 
  • Estate Planning  
    At death, proceeds from a DIA and GIA go directly to the named beneficiaries. This means bypassing the estate. This allows the proceeds to avoid possible probate, legal and executor fees.  
  • Pension Income Tax Credit  
    The interest income from a DIA and GIA qualifies for the Pension Income Tax Credit. This means a client 65 years or older may claim the first $2,000 of interest on a non-registered account as eligible pension income. 
  • Safe and Secure  
    Equitable is a member of Assuris. Assuris is the not-for-profit organization that protects Canadian contractholders in the event their insurance company fails. Assuris guarantees clients will retain up to $100,000 or 90% of your accumulated value, whichever is higher. Details about Assuris’ protection are available at www.assuris.ca or by calling the Assuris Information Centre at 1 866 878 1225. 
  • Access to Money 
    Clients can withdraw from a DIA at any time. A GIA is held until the maturity date but can be redeemed early. Early redemption is subject to a market value adjustment. 

 

To invest in a DIA or GIA, contact your advisor. If you do not have an advisor and would like to speak to one, call us at 1.800.668.4095 and one of our Client Care Representatives would be pleased to have an advisor in your area contact you. 

 

1 Subject to meeting all requirements under the Income Tax Act (Canada). Currently you must be at least age 65 and have no other qualifying pension income. 
2 Terms may be limited at age 90. 
3 The simple interest option is available for non-registered, Tax-Free Savings Accounts, Registered Retirement Income Funds, and Life Income Funds. 
4Interest rate bands are set by deposit size as follows: Band 1: Less than $200,000; Band 2: $200,000 to $499,999; Band 3: $500,000 to $999,999. Deposits greater than $1,000,000 may be eligible for further enhanced rates by submitting a special quote request. 
5 In Quebec, you may receive protection from creditors if a family member who is an ascendant or descendant of the contract owner is named as the beneficiary. 

This information does not constitute legal, tax or other professional advice. Clients are advised to speak with their advisor before making any investment decisions.  

 ® or ™ denotes a trademark of The Equitable Life Insurance Company of Canada.