Finance

TD GIC Rates – Current GIC and Interest Rates at Canada TD Bank

By Ehsteem Arif

Published on: July 10, 2024

Investing in a TD Guaranteed Investment Certificate (GIC) is a low-risk way to grow your savings securely. Offered by TD Bank, a GIC allows you to invest a specific sum of money for a set period, earning interest over that time. Once the term ends, you receive your initial investment plus interest. This article looks into TD GIC rates, how to check them, and details about various TD GIC products.

Contents

• 1 TD GIC
• 2 Checking TD GIC Rates
• 3 TD Bank GIC Types
• 4 TD GIC Interest Rates
  • 4.1 Short-Term Rates
  • 4.2 Long-Term Simple Interest Rates
  • 4.3 Long-Term Compound Interest Rates
  • 4.4 FAQs
  • 4.5 What is a TD GIC?
  • 4.6 How to check TD GIC rates?
  • 4.7 What types of TD GICs are available?
  • 4.8 What is the minimum investment for TD GICs?
  • 4.9 Can I cash out a TD GIC early?

TD GIC

A TD GIC, or Term Deposit Guaranteed Investment Certificate, provides a fixed rate of return over a predetermined period. It’s a stable investment option for those looking to grow their savings without exposing themselves to market volatility. TD GICs come in several types, each designed to meet different investment goals.

Checking TD GIC Rates

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Finding TD GIC rates in Canada is straightforward. As an account holder, you can check current rates by logging into TD Bank’s online portal. After signing in, navigate to the GIC Rates section from the homepage to view the latest offerings.

TD Bank GIC Types

TD Bank offers a variety of GICs, each catering to different investment needs:

1. Market Growth GICs: Tied to market performance, these GICs provide the potential for higher returns without risking your principal. They come with guaranteed interest returns and no fees.
2. Special Offer GICs: These short to medium-term GICs offer high interest rates for terms ranging from 100 days to 3 years. A minimum investment of 500 CAD is required, with interest rates up to 5.25% per annum.
3. Cashable GICs: Offering flexible terms from 30 days to 5 years, these GICs allow you to cash out early if needed. They guarantee a return with interest rates around 3% per annum.
4. Non-Cashable GICs: These GICs lock your investment until maturity, providing a secure option with higher returns. Terms range from 30 days to 5 years, with rates up to 5.35% per annum.
5. TD U.S. Dollar GICs: These GICs allow you to invest in U.S. dollars, earning a 4.45% return for terms up to 5 years. The minimum investment is 1000 USD, making it ideal for those looking to diversify their currency holdings.

TD GIC Interest Rates

Interest rates for TD GICs vary based on the term length and whether the interest is simple or compounded. Here’s a breakdown:

Short-Term Rates

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Short-term GICs offer competitive rates, especially for Tax-Free Savings Accounts (TFSA).