Savings, Investments and funds

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Across
  1. 4. An investment product offered by Canadian insurance companies, similar to a mutual fund, but with a guarantee on the principal. It combines investment growth potential with insurance protection, offering guaranteed returns on death or maturity.
  2. 8. An investment product that pools money from multiple investors to invest in a diversified portfolio of stocks, bonds, or other securities. It is a popular option for Canadians seeking professional management of their investments.
  3. 10. Savings Account (TFSA): A government-registered account where Canadians can grow investments or savings tax-free. Withdrawals are also tax-free, but there are annual contribution limits.
Down
  1. 1. Savings Account (HISA): A type of savings account that offers higher interest rates compared to a regular savings account, often with fewer transactions allowed.
  2. 2. (Registered Education Savings Plan): A tax-sheltered savings plan that helps Canadians save for a child’s post-secondary education. The government may provide grants to match contributions up to a certain limit.
  3. 3. (Registered Disability Savings Plan): A savings plan designed to help parents and others save for the long-term financial security of a person eligible for the disability tax credit in Canada.
  4. 4. Account: A basic deposit account offered by Canadian financial institutions that allows customers to store money securely while earning interest. It's typically insured by the CDIC (Canada Deposit Insurance Corporation) up to a certain limit.
  5. 5. Investment Certificate (GIC): A Canadian product similar to a Certificate of Deposit (CD). Customers invest money for a fixed term at a guaranteed interest rate. Early withdrawals may incur penalties.
  6. 6. A financial product offered in Canada where individuals invest a lump sum and receive regular payments for a specified period or for life, commonly used as part of retirement planning.
  7. 7. (Registered Disability Savings Plan): A savings plan designed to help parents and others save for the long-term financial security of a person eligible for the disability tax credit in Canada.
  8. 9. (Registered Retirement Savings Plan): A government-registered retirement savings plan that offers Canadians tax-deferred growth on their investments. Contributions reduce taxable income, but withdrawals are taxed.