I looking to invest in the CIBC's GIC's in the ecalating investment but i need a few questions answers first?

Question

1. On the subject of investments when it says interest is anually does that mean every month week or day?

2. can i add on to my investment as time passes?

3. How do banks make a profit off investments?

4. Is there a fee of something in fine print have missed?

(because it lokks like they are just giving me money)

also if u have any suggestions on what investment i should invest in please let me know

Answer 1

Guaranteed investment certificate...Pays interest at the end of a year when it says interest annually

You can buy more GiCs anytime you want with new money, You can't include your present Gic money until it's term ends, or you lose any accrued interest.

Banks lend your Gic Money out at higher rates than they pay you.

There are no fees for buying, just loss of interest if you sell before the term date.