|1 Year||2 Years||3 Years||4 Years||5 Years|
|US$ Term Deposits||0.65%||0.90%||1.25%||1.60%||2.00%|
Business GICs and Term Deposits
High interest rates on your hard earned money
Business GICs and Term Deposits are the most secure investments for short, medium and long term investment goals. The interest rate for the entire term is guaranteed.
Attractive interest rates:
Canadian dollar GICs and US dollar term deposits are also available for terms less than 1 year. Click here for current interest rates.
Safe and Secure: ICICI Bank Canada is a member of the Canadian Deposit Insurance Corporation. Deposits held in Canadian currency, having a term of five years or less and payable in Canada are insurable under the Canada Deposit Insurance Corporation Act. To learn more about current coverage for business deposits, visit www.cdic.ca
Flexible Terms: We offer terms ranging from 7 days up to 5 years. Choose a term that best suits your business needs.
Minimum Deposit: A minimum of $1,000 in the currency of deposit is required.
Compound Interest: All interest rates listed are on a per annum basis. Interest on our Business GICs and Term Deposits is compounded annually and paid at the end of the term.
Early Redemption: Early redemption is available on all terms. A notice period for redemption is required for GICs or term deposits above $4,999,000 with terms of less than 1 year. This notice period is declared on the application form for GICs and term deposits and accepted by customers at the time of submission. For further details about the terms of early redemption, please refer to our current Business Account Disclosure Statement.
Auto Renewal: Auto renewal is available for GICs or term deposits with terms of 1 year and above. As per the instructions on your application form, for GICs and term deposits with terms less than 1 year, the amount at maturity along with interest is either credited to your business deposit (chequing/savings) account, or a bank draft is issued and sent to the last mailing address we have on record for you.