A Guaranteed Investment Certificate (GIC) is a type of investment offered by banks and financial institutions. It allows individuals to deposit a sum of money for a fixed period, typically ranging from a few months to several years. In return, the investor receives a guaranteed interest rate, making GICs a low-risk option for saving and growing money. GICs are popular among conservative investors who prefer stability over high returns. They are often used as part of a diversified investment strategy, alongside other options like stocks and bonds. Unlike stocks, GICs do not fluctuate in value, providing peace of mind for those looking to preserve their capital.