Best TD GIC Rates for January 2025
Jan 15, 2025TD Bank is one of the big 6 banks that offers a range of GICs at terms, interest rates and redeemability options starting at a $500 minimum deposit.
Toronto-Dominion Bank, commonly referred to as TD Bank, was founded in 1855. Since then, TD Bank has expanded globally, increased its product line, and acquired other financial institutions. TD Bank is now recognized as one of the Big 6 Banks in Canada.
TD’s current GIC rates
Below are TD Bank GIC rates for some of TD Bank’s most popular GICs, as of Jan. 15, 2025.
The GIC rates for non-redeemable GICs are based on annually compounded interest and the market-linked GIC rates include the minimum guaranteed return and the maximum full-term return.
Term | Interest Rate | GIC Type |
|---|---|---|
1 - 29 days | Up to 3.30% | TD U.S. Dollar Term Deposit |
30 days | 2.25% | TD Non-Cashable Short-term GIC |
30 - 59 days | 3.00%, up to 3.15% | TD U.S. Dollar Term Deposit |
60 days | 2.50% | TD Non-Cashable Short-term GIC |
60 - 89 days | 3.05%, up to 3.25% | TD U.S. Dollar Term Deposit |
90 days | 2.75% | TD Non-Cashable Short-term GIC |
90 - 119 days | 3.10%, up to 3.30% | TD U.S. Dollar Term Deposit |
100-days | Up to 2.75% | TD Cashable GIC - Special Offer |
120 days | 2.75% | TD Non-Cashable Short-term GIC |
120 - 179 days | 3.15%, up to 3.35% | TD U.S. Dollar Term Deposit |
180 days | 2.75% | TD Non-Cashable Short-term GIC |
180 - 269 days | 3.15%, up to 3.35% | TD U.S. Dollar Term Deposit |
270 days | 2.75% | TD Non-Cashable Short-term GIC |
270 - 369 days | 3.15%, up to 3.35% | TD U.S. Dollar Term Deposit |
1 year | 3.25% | TD Non-Cashable Long-term GIC |
1 year | 4.35% | TD U.S. Dollar Long-term GIC – Non-Cashable |
1 year | 2.75% | TD 1 Year US Dollar Cashable GIC |
1 year | 2.75% | TD 1 Year Cashable GIC |
14 months | Up to 3.35% | TD Non-Cashable GIC - Special Offer |
18-month | Up to 3.35% | TD Non-Cashable GIC - Special Offer |
2 years | 3.25% | TD Non-Cashable Long-term GIC |
3 years | 3.65% | TD U.S. Dollar Long-term GIC – Non-Cashable |
2 years | 3.80% | TD U.S. Dollar Long-term GIC – Non-Cashable |
3 years | 3.15% | TD Non-Cashable Long-term GIC |
3 years | 3.00% | TD 3-year Premium Rate Cashable GIC - Special Offer |
3 years | 4.50%, up to 30.00% | TD Canadian Banking & Utilities GIC |
3 years | 6.00%, up to 22.00% | TD Canadian Banks GIC |
3 years | 2.50%, up to 14.00% | TD U.S. Top 500 GIC |
4 years | 3.75% | TD U.S. Dollar Long-term GIC – Non-Cashable |
4 years | 3.30% | TD Non-Cashable Long-term GIC |
5 years | 3.75% | TD U.S. Dollar Long-term GIC – Non-Cashable |
5 years | 3.30% | TD Non-Cashable Long-term GIC |
5 years | 12.00%, up to 50.00% | TD Canadian Banking & Utilities GIC |
5 years | 12.00%, up to 32.00% | TD Canadian Banks GIC |
5 years | 7.50%, up to 25.00% | TD U.S. Top 500 GIC |
The best TD GIC Rates
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Product detailsWhat to know about TD Bank GICs
Included in TD Bank’s wide product offering are guaranteed investment certificates, or GICs. TD Bank GICs typically offer competitive interest rates and flexible terms. In addition, GIC deposits with TD Bank are covered up to $100,000, thanks to Canadian Deposit Insurance Corporation (CDIC) protection.
How to choose an TD Bank GIC
When choosing a TD Bank GIC, consider the following:
Interest rates.
Available terms.
Types of GICs.
GICs are a low-risk investment. The returns might not be as high as what’s possible with other types of investments, but your principal investment is always guaranteed. And with interest rates on the risee in Canada as of late, TD GIC rates have become a very attractive option for those looking to grow their savings.
Generally, GICs are an attractive choice for people who have a short investment timeframe or want to grow their wealth without risking it.
Since GICs can be purchased within your Tax-Free Savings Account (TFSA) and Registered Retirement Savings Plan (RRSP), there are tax benefits to take advantage of as well.
Alternatively, you can purchase GICs in a non-registered account since they can still provide you with a good interest rate.
Types of TD Bank GICs
TD Bank offers five types of GICs. Each one has different interest rates, terms available, and options, so you should have no problem finding one that suits your needs.
Market Growth GICs: The amount of interest you’ll earn is linked to market performance, but your principal investment is guaranteed with a minimum TD GIC rate.
TD Special Offer GICs: These fixed-rate GICs have competitive rates and can be automatically renewed.
Cashable GICs: With cashable GICs, you can access your money anytime while earning a guaranteed return.
Non-Cashable GICs: If you’re willing to lock in your money for a set term, you can get a higher interest rate with non-cashable GICs.
TD U.S. Dollar GICs & Term deposits: You can purchase U.S. dollar GICs in a non-registered account with TD.
TD Bank GIC terms
TD Bank offers flexible GIC terms, including:
Short terms (1 day to 1 year).
Mid-length term (2 – 4 years).
Long term (5 years).
Yes, you read that correctly: TD Bank offers GIC terms as short as one day, but only with a minimum deposit of at least $100,000 USD.Generally, the longer term you take, the higher your TD GIC rates will be, and the more you’ll earn.
How to open an TD Bank GIC
To get a TD Bank GIC, you must meet the following requirements:
Have a Social Insurance Number.
Live in Canada with a Canadian address.
Have reached the age of majority in the province or territory in which you reside.
Have a TD personal deposit account.
Be registered for TD’s EasyWeb online banking.
Be able to satisfy the minimum investment amount, which ranges from $500 to $1,000, depending on the GIC you choose.
The quickest way to buy a TD Bank GIC is to do it online. Assuming you have the funds in your account already, you can purchase a GIC while logged into your TD Bank account. Alternatively, you can call TD or walk into a branch to have someone assist you.
How to close an TD Bank GIC
Cashable TD Bank GICs can be redeemed at any time. To do so, you will probably have to contact TD by phone, go into a branch, or write them a letter. Non-cashable GICs can not be redeemed until they mature. When your GICs mature, the money automatically deposits into your applicable TD account.
Since GICs are a product, not an account, there’s nothing to close. That said, once your principal and earnings are deposited into your account, don’t forget to either re-invest or withdraw them.
Alternatives to TD Bank GICs
Even though TD Bank offers competitive GICs, look for the best GIC rates that other banks and credit unions are offering.
If you want a GIC from a different bank
If TD Bank GICs aren’t quite what you’re looking for, consider some other Big Banks:
Minimum deposit | Are deposits insured? | |
|---|---|---|
Best RBC GICs | Starting at $500 | Yes, by the Canada Deposit Insurance Corporation. |
Best National Bank GICs | Starting at $500 | Yes, by the Canada Deposit Insurance Corporation. |
Best TD GICs | Starting at $500 | Yes, by the Canada Deposit Insurance Corporation. |
Best BMO GICs | Starting at $1,000 | Yes, by the Canada Deposit Insurance Corporation. |
Best CIBC GICs | Starting at $500 | Yes, by the Canada Deposit Insurance Corporation. |
Best Scotiabank GICs | Starting at $500 | Yes, by the Canada Deposit Insurance Corporation. |
You could consider digital banks for the variety of GIC offering with competitive standard and bonus rates:
EQ Bank GICs often have high interest rates compared to traditional banks.
Simplii Financial GICs held in RRSP and non-registered accounts for attractive interest rates.
Tangerine GICs are competitive, and offer wide range of terms and types of investment options.
If you want a different TD Bank product
Since GICs have limited growth opportunities, they’re not the best fit for every type of investor. Fortunately, TD Bank allows you to purchase a wide range of products that could suit your investment profile, such as:
To purchase some of these products, you may need to go through a TD Bank financial advisor or open an account with TD Direct Investing.
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Siddhi Bagwe
Siddhi Bagwe
Siddhi Bagwe