Keep Your Money Safe
A GIC guarantees your full investment.
Earn Cash Rewards
Earn profit-sharing cash for having a GIC with us.
Find Great Rates
Discover competitive rates for any GIC type and term length.
Pay No Monthly Fees
There’s no charge for investing in a GIC. And you’ll always have free access to friendly advisors who can help you reach your goals.
GIC Requirements
Identification
You'll need a Social Insurance Number (SIN), and one of these documents:
- Canadian Driver's License
- Indian Status Card
- Provincial Photo ID (not including Quebec)
Unexpired Passport from:
- Canada
- Australia
- China
- India
- Mexico
- Philippines
- Singapore
- Taiwan
- United States
Eligibility
You are eligible if you are:
- A Canadian resident (not including Quebec), and
- 18 years of age or older
Member Share
You'll need to purchase a $5 membership share (new members only).
How to Apply for a GIC
Digital Banking
If you're already a member, you can apply through digital banking.
- Login
- Choose Accounts > Open Account > GICs/Term Deposits
- Select the GIC type and term length of your choosing
Apply Online
Complete our short GIC form and you'll hear from us soon about opening your investment.
Popular GIC Options
3-Year Convertible
If there's a rate increase, convert into a higher rate investment once over the term.
Current Rate: 3.00%*
Redeemable GIC
Enjoy easy access to your money. Withdrawals are free.
Current Rate: 1.90%*
Non-Redeemable GICs
Earn cash rewards. Enjoy competitve rates in 1 to 5 year terms.
Current Rates: 3.00%* to 3.25%*
GIC Investments
1-Year Redeemable
Enjoy flexible access to your money!
- Interest paid annually and/or at maturity to your GIC or chequing account
- See current rates
- No redemption penalty
- Additional deposits are permitted in any amount at any time during the investment length
- Minimum deposit - $1,000
- Minimum partial withdrawal - $1,000
- Minimum balance of $1,000 must be maintained
1 to 5-Year Non-Redeemable
Lock in to earn more!
- Interest paid annually and/or at maturity to your GIC or chequing account
- See current rates
- Minimum deposit - $1,000
1-Year Easy Start Non-Redeemable
Save for your $1,000 minimum!
- Interest paid annually and/or at maturity to GIC or chequing account
- See current rates
- Pre-authorized transfers are required and may be set up at any frequency and for any amount
- Additional deposits are permitted in any amount at any time during the investment length
- Minimum initial deposit - $5.00
- Minimum balance by maturity - $1,000
3-Year Convertible Non-Redeemable
Take advantage of rate increases!
- Interest paid annually and/or at maturity to your GIC or chequing account
- See current rates
- Convertible option only available once during the originating investment length
- Convert into a non-redeemable investment of equal or greater than the remaining investment length
- Minimum deposit - $1,000
Laddering Strategy
Earn more PLUS easily access your funds. It's a win-win!
- 1 year, 2 year, 3 year, 4 year, and 5 year (must have minimum of $1,000 in each investment length)
- Interest paid annually and/or at maturity to your GIC or chequing account
- See current rates
- Minimum deposit – $5,000
- You can access 20% of your deposit annually since 1/5 of your deposit matures in 1 year
Need more help deciding which savings product is best?
Calculator
Try a savings calculator to see in seconds how much you can save.
Savings Selector Tool
Try our Savings Selector Tool for personalized recommendations.
Blogs
Check out our savings blogs like our "What is a GIC?" article.
Questions
What is a GIC?
A GIC is an investment that offers a guaranteed return on your deposit. Canadian banks and credit unions offer Guaranteed Investment Certificates because of their benefits:
Investment safety: They offer a guaranteed return with a fixed interest rate.
Higher interest: GICs earn you higher interest than a regular savings account.
Secured principal investment: You can enjoy a secured principal investment and interest.
Am I eligible for a GIC?
GICs are available to any Canadian resident age 18 and older with a Social Insurance Number.
What is the minimum investment for a GIC?
The initial deposit must be $1,000 or more.
How does the laddering GIC work?
Your initial investment is split equally into 1-year, 2-year, 3-year, 4-year, and 5-year investments. You’ll be able to access your shorter-term investments should you need the money while your longer-term investments continue to earn interest. It combines the benefit of access to cash without penalty and getting the most interest on your investment.
Which GIC is right for me?
When choosing the right type of a GIC Canadian investment product, you have to ask yourself what you’re looking for. Are you looking for access to funds or a competitive rate?
Here are some GIC features to help with your investment decision.:
| Product Type | Redeemable GICs | Non-Redeemable GICs | Laddering GICs |
|---|---|---|---|
| Fixed and Guaranteed Rates | Yes | Yes | Yes |
| Guaranteed Returns | Yes | Yes | Yes |
| Accessibility | Yes | No | Yes |
| Higher Returns | No | Yes | Yes |
Rates subject to change without notice.
Calculators on the site are made available to you as tools for independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy. All examples are hypothetical and are for illustrative purposes only. Please contact us directly to seek personalized advice from qualified professionals for all personal finance issues.
Investments require a minimum deposit of $1,000. Interest is earned in the currency of the account and calculated on a per annum basis. Rates are subject to change without notice. Interest rates are annual interest rates. Interest is calculated daily on the closing credit balance. If term is withdrawn in full, the accrued interest is paid in full based on prior day's amount. If partial withdrawals are processed, there is no payment of accrued interest as it's paid according to the original terms. Interest for products can either be paid to a separate account or added to the principal on each anniversary date and at maturity.
Learn more about our accounts and services. Review our Account and Fee Information (pdf).
Identify the interest rates applicable to your account(s) and how they're calculated. Review our About Our Interest Calculations (pdf) document.