TD Canada GIC Rates: Explore TD Bank’s Current Interest Rates

Updated on January 23, 2024

In this article, we’ll explore the TD GIC Rates, delving into what Canada’s TD Bank offers in terms of GIC Rates and Interest Rates. A TD GIC serves as a low-risk investment option facilitated by TD trustees, providing a secure avenue to increase your funds. With TD, your specified amount is invested for a predetermined period, yielding interest, and returning the principal amount once the investment plan concludes. For further essential details on TD GIC Rates, including specific rates and additional information, keep reading this article.

TD GIC Rates

The TD GIC, or Term Deposit Guaranteed Investment Certificate, presents a variety of deposit plans designed to increase your funds following the investment period. It ensures a fixed rate of return for a predetermined duration.

Moreover, the TD GIC Rates contribute a specific sum to your savings. These rates vary depending on the chosen short or long-term plans, and this article will further elaborate on these distinctions.

How to Check TD GIC Rates in Canada?

Canada is a country experiencing continuous financial growth, and credit for this is often attributed to the government. The government’s policies have enabled banks like TD to offer Guaranteed Investment Certificates to its citizens.

To review TD GIC Rates in Canada, account holders need to visit the primary online portal. After completing the sign-in process, they should navigate to the GIC Rates section on the homepage. The relevant details will then be displayed on the screen for their reference.

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What are Canada TD Bank GIC Rates?

While saving for significant purchases, down payments, or major investments, TD offers various facilities to support your financial goals, providing a favorable interest rate on your total sum.

There are five distinct investment options that offer a stress-free way to achieve a good return:

  1. Market Growth GICs: Aligned with market growth and stock market potential, this option carries no risk to your capital. It guarantees interest returns based on terms, minimum investment, and plan, all without any fees.
  2. Special Offer GICs: Depending on the chosen term ranging from 100 days to 3 years, these GICs offer a 5.25% interest rate per annum. A minimum investment of 500 CAD ensures a fixed rate of return, making it suitable for short-term and medium-term investments.
  3. Cashable GICs: Ideal for both short and long-term investments, this option guarantees a return rate for the specified period. With flexible terms spanning from thirty days to 5 years and a 3% yearly rate of return, it provides versatility.
  4. Non-Cashable GICs: In this option, investors cannot withdraw their funds before maturity. However, it ensures 100% security for your money, offering a flexible period of 30 days to 5 years with a 5.35% yearly rate of return.
  5. TD U.S. Dollar: This allows individuals to earn and invest in US dollars at a 4.45% return rate for up to five five-year terms. Investors can choose terms ranging from 1 day to five years, with a minimum investment of 1000 USD.

Each of these options caters to different preferences, and they may have tax benefits in accordance with government regulations.

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TD GIC Interest Rates

The TD GIC rates depend on certain factors, which include short-term, long-term (SI) and long-term (CI).

For Short Term

Term Registered and Non- registered
For 30 Days 2.25% (only for TFSA)
For 60 Days 2.50% ( for TFSA)
For 90 Days 2.75 per cent
For 120 Days 3 per cent
For 180 Days 3.25 percent
For 270 Days 3.50 per cent

The interest rates differ based on the term in days. Specifically, for both 30 and 60 days, the interest percentage remains constant at 2.50%, applicable exclusively to the TFSA.

TD GIC rates for Long Term Simple Interest

Term Registered and Non-registered
For One year 5.35 Percent
For Two years 5.30 percent
For Three years 5 per cent
For Four years 5 per cent
For Five year 5%

The Long-Term options commence with a 1-year term plan, offering a 5.25% interest rate. For years 3 to 5, the interest percentage remains consistent at 5%. The two-year term plan stands out with the highest rate of simple interest, reaching 5.30%.

TD GIC rates for Long Term Compound Interest

Term Registered and Non- registered
For One year 5.35 percent
For Two years 5.30 percent
For Three Years 5 per cent
For Four years 5 per cent
For Five years 5 per cent

Compound interest rates fluctuate based on the term. In the case of a one-year plan, an investor receives a 5.35% interest rate. For the period spanning 3 to 5 years, the investor continues to receive the same percentage of interest, which stands at 5%.

 

 

 

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