For GICs with a term of more than one year, interest is compounded on each anniversary date of the GIC and then paid on the maturity date.  For terms less than 1 year, simple interest calculation and paid at maturity. Rates are subject to change at any time.GIC confirmations are sent by mail to clients. GICs renew automatically unless the customer provides instructions to the contrary, which requires the customer to call the Wealth One Call Centre. These instructions may be provided up to 10 days after the renewal date. GICs purchased by telephone bear an issue date of the day following purchase.