FAQs

What is a GIC Broker?

A GIC Broker like Paragon Financial is an investment company that has contracts with dozens of GIC institutions across Canada so we can provide the highest GIC rates to our clients at any given time. We offer those rates to our clients for free, and then monitor those GICs to ensure you keep getting the highest rate for each maturity.


Is a GIC Broker safe?

Yes, a GIC Broker like Paragon Financial is regulated by the RDBA (Registered Deposit Brokers Association).  This ensures that we operate in a professional manner, and do not make promises we cannot keep.  Paragon has been a member of the Better Business Bureau (BBB) since 2011 and has held the coveted A+ rating ever since.


Are the GICs you offer safe?

Yes, every GIC company that we do business with are members of the Canadian Deposit Insurance Corporation (CDIC), Credit Union Deposit Insurance Corporation (CUDIC) or Assuris.  These 3 organizations provide insurance for clients that own GICs though Paragon, in case of bankruptcy.  We do not do business with any GIC company that does not have insurance with one of these 3 companies.


How much does it cost?

Paragon offers our Highest GIC rates for FREE!  There are no fees or hidden charges to purchase the GICs we offer.  Please call or email to find out more.


Do I have to negotiate my GIC rate like I do at my branch?

When you purchase a GIC through Paragon, all you have to do is provide your information. We will do the rest! You will not have to negotiate rates, track maturities, or search for the best rates ever again. We do all that for you, for free! Also, our consolidated statements have all your investment details and we proactively contact you before each maturity to discuss rates and strategies that will work best for you.


Is there a minimum investment to get your GIC rates?

The minimum investment to purchase a GIC through Paragon is $25,000 per account, both personal and Corporate. Please call or email us to learn more.


Other than the highest GIC rates, what else can Paragon do for me?

Paragon will give you full service when you purchase a GIC with us.  This means that you do not have to do any work as we keep track of your investments for you.  You will get a call or email a few weeks before each GIC maturity to discuss current rates and the options that are best for you.  Also, as a GIC Broker we are allowed to hold/save rates for you up to 15 days for non-registered GICs, and 60 days for RRSPs, TFSAs, and RRIFs, in case the rates drop before we make your purchase.


Can Paragon help me with my RRSP/TFSA/RRIF too?

Absolutely. Our GICs can be purchased in any of these registered products. The only exception is we cannot purchase GICs for RESPs (registered education savings plans) or RDSPs (registered disability savings plans).