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High-return secured savings

  • Attractive interest rates

  • Annual compound interest

  • CDIC insured deposits

  • Minimum CAD/USD 1,000 deposit

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Things you should know

  • Minimum deposit

    $1,000 in chosen currency

  • Tenure range

    1 month to 60 months

  • Interest payment

    Compounded annually, paid at term-end

  • Renewal or Redemption

    Redemption not allowed before maturity

Documentation

Related Links

Interest rates

Canada Deposit Insurance

Terms and Conditions

Disclosure Statement

About the product

Minimum deposit requirement

Start your Non-Redeemable GIC or Term Deposit with a minimum of CAD 1,000 in your chosen currency to begin earning assured interest.

Interest payment schedule

Interest is compounded annually and paid at the end of the term, ensuring your returns grow safely over the chosen deposit period.

Maturity and renewal options

At maturity, Business GICs and Term Deposits can either be renewed or serviced according to your request, providing flexibility for future business planning.

Access restrictions

Non-Redeemable GICs and Term Deposits cannot be redeemed before maturity, so funds will remain secure and inaccessible until the term ends.

FAQs

What is a Non-Redeemable GIC?

A Non-Redeemable GIC is a fixed-term deposit where funds are secured for the chosen period. Interest rates are assured for the full term and deposits cannot be withdrawn before maturity, offering a safe and predictable return on investment.

How is interest calculated and paid?

Interest on Non-Redeemable GICs and Term Deposits is compounded annually and paid at the end of the term. The rates are fixed for the entire term, ensuring assured returns and financial certainty.

Can I access my funds before maturity?

No, Non-Redeemable GICs and Term Deposits cannot be redeemed before maturity. Your principal and earned interest remain secure until the end of the term, providing a safe and disciplined savings option.

What happens at maturity?

Upon maturity, you can choose to renew your GIC or Term Deposit or withdraw the funds. ICICI Bank Canada offers flexible servicing options to meet your future business or investment goals.

Which currencies can I invest in?

You can choose to invest in either Canadian Dollars (CAD) or US Dollars (USD) for Non-Redeemable GICs and Term Deposits, with attractive fixed interest rates for each currency

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Disclaimer

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