A TD GIC is a low-risk investment provided by TD Bank. It’s a safe way to grow your money. The bank invests your money for a set period, and you earn interest on it. Once the investment term is over, you get your money back with interest. This article explains TD GIC rates, how to check them, and the different types of GICs offered by TD Bank.
What is a TD GIC?
A TD GIC (Guaranteed Investment Certificate) is a type of term deposit offered by TD Bank. It allows you to earn a fixed rate of return over a specified period. This investment is considered low-risk because your principal amount is guaranteed.
How to Check TD GIC Rates in Canada
Checking TD GIC rates in Canada is simple. Here’s how you can do it:
- Visit the TD Bank website.
- Log in to your account.
- Navigate to the GIC Rates section on the homepage.
- View the current rates displayed on the screen.
Types of TD GICs
Market Growth GICs
- How it works: These GICs depend on stock market growth. They offer guaranteed interest without risking your principal amount.
- Features: Minimum investment required, no fees, terms vary.
Special Offer GICs
- How it works: These GICs are available for short and medium terms, from 100 days to 3 years.
- Interest Rate: 5.25% per annum.
- Minimum Investment: 500 CAD.
Cashable GICs
- How it works: Suitable for both short and long-term investments.
- Interest Rate: 3% per year.
- Terms: 30 days to 5 years.
- Features: You can cash out before maturity.
Non-Cashable GICs
- How it works: You cannot cash out before the maturity date.
- Interest Rate: 5.35% per year.
- Terms: 30 days to 5 years.
- Features: 100% secure investment.
TD U.S. Dollar GICs
- How it works: Invest in U.S. dollars.
- Interest Rate: 4.45% per year.
- Terms: 1 day to 5 years.
- Minimum Investment: 1000 USD.
TD GIC Interest Rates
Short-Term Rates
- 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%
Long-Term Simple Interest Rates
- 1 Year: 5.35%
- 2 Years: 5.30%
- 3 Years: 5%
- 4 Years: 5%
- 5 Years: 5%
Long-Term Compound Interest Rates
- 1 Year: 5.35%
- 2 Years: 5.30%
- 3 Years: 5%
- 4 Years: 5%
- 5 Years: 5%
TD GICs offer various options for investing your money safely. With fixed interest rates and guaranteed returns, these investments are suitable for both short-term and long-term goals. Depending on your needs, you can choose from different types of GICs, such as Market Growth, Special Offer, Cashable, Non-Cashable, and U.S. Dollar GICs. Always check the latest rates and terms on the TD Bank website to make an informed decision.
FAQs
1. What is a TD GIC?
A TD GIC is a Guaranteed Investment Certificate offered by TD Bank, which provides a fixed rate of return over a specified period.
2. How can I check TD GIC rates?
You can check TD GIC rates by logging into your TD Bank account and navigating to the GIC Rates section on the homepage.
3. What are the interest rates for TD GICs?
Interest rates vary based on the type and term of the GIC. For example, short-term rates range from 2.25% to 3.50%, while long-term rates range from 5% to 5.35%.
4. Can I cash out a TD GIC before it matures?
Yes, you can cash out a Cashable GIC before it matures. However, Non-Cashable GICs cannot be cashed out before the maturity date.
5. What is the minimum investment for a TD GIC?
The minimum investment for a TD GIC varies. For Special Offer GICs, it is 500 CAD, and for TD U.S. Dollar GICs, it is 1000 USD.