Business GICs / Term Deposits
Redeemable GICs & Term Deposits
| Term/Currency | CAD | USD |
|---|---|---|
1 Year | 0.55% | 0.30% |
2 Years | 0.65% | 0.40% |
3 Years | 0.80% | 0.60% |
4 Years | 0.95% | 0.80% |
5 Years | 1.05% | 1.00% |
Rates are as of August 4, 2020.
Early Redemption is available only on Canadian Dollar GIC and U.S. Dollar term deposits with maturities of 1 year or more at 0.50% and 0.25% respectively. No interest is paid for early redemption of GICs or term deposits if the redemption is made within 6 months of opening the GIC or term deposit.
Rate History for redeemable Business GICs/ Term Deposits - 1 to 5 years
Short term Canadian Dollar GIC - Less than 1 year’
| Term | $1,000.00 to $4,999.99 | $5,000.00 - $4,999,000.001,3 |
|---|---|---|
7-29 days2 | NA | 0.10% |
30-59 days | NA | 0.20% |
60-89 days | NA | 0.30% |
90-179 days | NA | 0.40% |
180-269 days | NA | 0.50% |
270-364 days | NA | 0.55% |
Rates are as of August 4, 2020.
Early redemption is only available on Canadian Dollar GICs with terms less than a year. No interest is paid for early redemption of Canadian Dollar GICs if redeemed within 30 days of opening the GIC. Interest at the rate of 0.05% is paid for early redemption.
Rate History for Short term Canadian Dollar GIC - Less than 1 year
Short term US Dollar Term Deposit - Less than 1 year
| Term | $1,000.00 to $4,999.99 | $5,000.00 to $4,999,000.001,3 |
|---|---|---|
7-29 days2 | NA | 0.00% |
30-59 days | NA | 0.05% |
60-89 days | NA | 0.07% |
90-119 days | NA | 0.10% |
120-149 days | NA | 0.15% |
150-179 days | NA | 0.20% |
180-269 days | NA | 0.25% |
270-364 days | NA | 0.30% |
Rates are as of June 16, 2020.
Early redemption is available only on US Dollar Term Deposits with terms less than 1 year. No interest is paid for early redemption of US Dollar Term Deposits.
1 For Canadian Dollar GICs or US Dollar Term Deposits above $4,999,000, speak to your relationship manager or branch manager for current interest rates. A notice of redemption is required for Canadian Dollar GICs or US Dollar Term Deposits valued above $4,999,000.
2 A minimum of $100,000 in the currency of deposit is required for terms less than 30 days.
3 All interest rates mentioned are annual, and interest is compounded annually and paid at the time of maturity.
Rate History for short term US Dollar Term Deposit - Less than 1 year
Non-redeemable Business GIC and Term Teposits
| Terms | CAD Non-Redeemable GICs | USD Non-Redeemable Term Deposits |
|---|---|---|
1 month | 2.05% | 2.25% |
2 months | 2.15% | 2.85% |
3 months | 2.20% | 3.55% |
6 months | 2.25% | 3.75% |
9 months | 2.30% | 3.75% |
1 year | 2.60% | 3.85% |
15 months | 2.60% | 3.55% |
18 months | 2.70% | 3.55% |
2 years | 2.80% | 3.55% |
3 years | 2.80% | 3.55% |
4 years | 2.80% | 3.55% |
5 years | 3.00% | 3.55% |
Rates are as of February 25, 2026 on CAD Non-Redeemable GIC and as of October 29, 2025 on USD Non-Redeemable Term Deposits
Minimum of CAD/USD 1,000 is required. All interest rates are expressed on a per annum basis and are subject to change at any time without notice. Non-Redeemable GIC/Term Deposit interest is compounded annually. Other conditions may apply.
Rate History for Non-redeemable business GIC and term deposits
All interest rates are expressed on a per annum basis and are subject to change any time without notice. Interest on Business Chequing Elite Account is calculated on daily closing balance and paid monthly on portions of the balance within each tier based on the interest rate for that tier. The first interest payment is credited in the month following the month in which the account is opened.
Fees are charged, and interest is paid, in the currency of the account.
Refer to Disclosure Statement of Fees and Charges for Business Accounts