Term deposits and Guaranteed Investment Certificates (GICs): Money invested for a specific period of time, giving you a higher interest rate than a savings account.
Canada Savings Bonds: A safe, secure investment where the government pays interest on money invested.
Registered Retirement Savings Plan (RRSPs): Money invested for retirement—income tax is not paid on the money until retirement.
Tax Free Savings Account: Money that can be used to purchase a new car, renovate a house, start a small business or take a family vacation.
Toronto Stock Exchange (TSX): The largest stock market in Canada.
Canadian bank accounts are protected by the Canadian Deposit Insurance Corporation. For more information about banking in Canada, visit this Citizenship and Immigration Canada website.

