GIC:
Interest is calculated and accrued daily. To calculate the daily interest, we divide the annual interest by 365. We multiply that figure by the GIC book value to determine how much interest to accrue. Interest is paid on maturity for GICs that do not pay interest during their term.
GIC interest rates expressed on this website are annual interest rates and current as of today’s date.
High Interest Savings Account:
Interest is calculated on the closing daily balance and is paid monthly.