GIC = Guaranteed Investment Certificate

A GIC is a secure investment that guarantees 100% of your principal and interest when held to maturity while earning interest at a fixed or variable rate, or based on a specific formula. 

It can be of multiple types:
- Guaranteed-Return GIC
- Interest Rate-Linked GIC
- Equity-Linked GIC
- Market-Linked GIC  (MLGIC)

Note that I have seen this term being used only in Canada.