TD GIC Rates: An Overview of Canada TD Bank GIC Rates and Interest Rates

News: If you seek a low-risk avenue to increase your savings, it may be worthwhile to explore the TD GIC rates. TD GIC, or Term Deposit Guaranteed Investment Certificate, is presented by TD trustees and offers a secure investment opportunity. This article will examine the specifics of TD GIC rates in Canada and investigate the various GIC types on offer.

TD GIC Rates

TD GIC rates provide predetermined rates of return over a set duration, enabling the gradual growth of your funds. The rates are contingent on the GIC’s terms, which may span short or long periods. Let’s explore how you can assess TD GIC rates in Canada and the diverse options at your disposal.

How to Check TD GIC Rates in Canada?

To ascertain TD GIC rates in Canada, account holders can effortlessly access the information through the TD online portal. After logging in, proceed to the GIC rates section, conveniently located on the home page. Within this section, you will find the current rates presented by TD Bank.

Canada TD Bank GIC Rates

TD Bank in Canada offers a diverse array of GICs tailored to meet various investment needs, each presenting an attractive interest rate to aid in accomplishing financial objectives. Here’s an exploration of the distinct types of GICs available at TD Bank:

1. Market Growth GICs: These GICs are tied to the potential growth of the stock market, ensuring a guaranteed interest return based on specified terms, minimum investment, and plan details. Notably, this option carries no additional fees.

2. Special Offer GICs: Providing flexibility, Special Offer GICs enable you to choose terms ranging from 100 days to 3 years. With a fixed interest rate of 5.25% per annum, these GICs serve as a short-term and medium-term investment option, requiring a minimum investment of 500 CAD.

3. Cashable GICs: Suited for both short-term and long-term investments, Cashable GICs deliver a guaranteed return rate for a defined period. The terms are flexible, spanning from thirty days to 5 years, with an annual return rate of 3%.

4. Non-Cashable GICs: Although investors are unable to withdraw funds before the maturity date in this category, the investment is entirely secure. Non-Cashable GICs feature flexible terms ranging from 30 days to 5 years, with an annual return rate of 5.35%.

5. TD U.S. Dollar:Tailored for earning and investing in US dollars, this GIC offers a return rate of 4.45% for up to five years. The terms are flexible, ranging from 1 day to 5 years, with a minimum investment of 1000 USD.

TD Bank’s comprehensive range of GIC options caters to diverse investment preferences, allowing individuals to choose an option aligned with their financial goals and risk tolerance.

TD GIC Interest Rates

TD GIC interest rates vary based on different factors, including short-term, long-term (simple interest), and long-term (compound interest). Let’s dive into the specific rates for each term:

Short-Term GIC Rates (Registered and Non-registered):

• 30 Days: 2.25% (only for TFSA)
• 60 Days: 2.50% (for TFSA)
• 90 Days: 2.75%
• 120 Days: 3%
• 180 Days: 3.25%
• 270 Days: 3.50%

Note: The interest percentage for 30 and 60 Days is the same, which is 2.50%, and this is applicable only for TFSA.

Long-Term GIC Rates (Simple Interest) (Registered and Non-registered):

• One year: 5.35%
• Two years: 5.30%
• Three years: 5%
• Four years: 5%
• Five years: 5%

Long-Term GIC Rates (Compound Interest) (Registered and Non-registered):

• One year: 5.35%
• Two years: 5.30%
• Three years: 5%
• Four years: 5%
• Five years: 5%

For long-term GICs, the interest rates persist at a steady 5% for terms spanning three to five years, offering a reliable and consistent return. Notably, the two-year term stands out with the highest rate of simple interest, set at 5.30%.

TD GIC rates offer a secure and dependable avenue for growing your savings. The array of options empowers you to select the GIC that aligns with your investment goals and preferences. It’s crucial to factor in considerations such as terms, interest rates, and your specific financial objectives when making informed investment decisions.

FAQs

Q: What does TD GIC stand for?

A: TD GIC stands for Term Deposit Guaranteed Investment Certificate, which is a low-risk investment option provided by TD trustees to assist in the growth of your savings.

Q: How do I inquire about TD GIC rates in Canada?

A: To check TD GIC rates in Canada, log in to the TD online portal and visit the GIC rates section.

Q: What GIC options are available at TD Bank?

A: TD Bank provides a range of GICs, such as Market Growth GICs, Special Offer GICs, Cashable GICs, Non-Cashable GICs, and TD U.S. Dollar GICs.