One of Kindred’s Social Impact themes, Housing, is focused on safe and affordable housing. This theme includes the affordability of housing for first-time home buyers, those on fixed incomes, supporting those accessing emergency shelters, and transitional housing which is critical to all our communities.
Within this housing continuum, Canada’s first Affordable Housing GIC is focused on addressing rental housing and home ownership.
Canada’s first Affordable Housing GIC is open to all investors, and only available through Kindred. The GIC is available for a 4-year term at Kindred’s posted rate. Tiered rates are offered based on the amount invested. There is a minimum of $500 required. Investors earn a fixed-rate of interest on the principal amount they invest and have the convenience of choosing if it is reinvested or paid to a Kindred account. The product is eligible for non-registered, RRSP, RRIF, and TFSA accounts.
Invest in the Affordable Housing GIC. You’ll earn a competitive interest rate while supporting lending for long-term, owned or rented permanent affordable housing.
As a pool of deposits is built up, we’ll work with our community partners to assess potential affordable housing providers to support lending for long-term, owned or rented permanent affordable housing projects.
Loans are provided from the GIC deposit funds to impactful housing projects. Although dollar-for-dollar matching may not be achievable, Kindred will seek to provide loans approaching the value of the GIC deposits.
