A bank does not charge a penalty for cashing in a five-year uncashable GIC early.

Name: A bank does not charge a penalty for cashing in a five-year uncashable GIC early.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

A five-year uncashable GIC typically has a penalty for early withdrawal, as the term "uncashable" suggests that the funds cannot be withdrawn until the end of the five-year period. Therefore, a penalty would be charged for cashing in the GIC early.

A Bank Does Not Charge a Penalty for Cashing in a Five-Year