How your interest is calculated

For 1 to 5 year Bridgewater Bank GICs, interest is paid depending on the interest payment option selected by you. You have the option to have interest paid to you via electronic funds transfer (EFT) or by cheque either annually or at maturity.

Example: A $100,000 GIC with a 2% interest rate on a 2-year term:

Paid annually

The principal amount multiplied by the interest rate: a $100,000 investment at 2% = $2,000 paid to you each year.

Paid at maturity

Year 1: The principal amount multiplied by the interest rate: a $100,000 investment at 2% = $2,000.
Year 2: The (new) principal amount multiplied by the interest rate: a $102,000 investment at 2% = $2,040. The total interest owed to you at maturity = $4,040.00

Paid monthly

Year 1: The principal amount multiplied by the interest rate: a $100,000 investment at 2% ÷ 12 = $166.67/month.
Year 2: Same as above as the principal won’t change.

Reviewing your investment or updating your details is easy with Bridgewater Bank. Just contact us or connect with your deposit broker/investment advisor. We’re both here to help.

Find the latest Bridgewater Bank GIC rates.

See the numbers