Bank Investment Contract


Bank Investment Contract (BIC)

Interest guaranteed by the bank in a portfolio over a specific time frame with a specific yield.

Bank Investment Contract

A bank-issued contract guaranteeing a specific portfolio a specific yield for a certain period of time. This contract usually has a maturity ranging from one to ten years. It is a low-risk, low-yield investment made mostly by corporations carrying 401(k) or profit-sharing plans. See also: Guaranteed Investment Contract.