Try our new website for a faster, fresher, and smarter banking experience.

Old Old Version New New Version

BEST FOR

Businesses seeking high returns

  • Flexible 7-day to 5-year terms

  • Early redemption & auto-renewal

  • Canadian Deposit Insurance Corporation (CDIC)-insured and fully secure

  • Assured interest rates

VIEW INTEREST RATES

Things you should know

  • Eligibility

    Businesses & corporations

  • Minimum deposit

    $1,000 required in the currency of deposit

  • Term options

    7 days to 5 years

  • Early redemption

    Available with notice

Documentation

About

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 fixed.

Attractive interest rates

  1 Year 2 Years 3 Years 4 Years 5 Years
C$ GICs 0.55% 0.65% 0.80% 0.95% 1.05%
US$ Term Deposits 0.30% 0.40% 0.60% 0.80% 1.00%

Click here to find out more

Safe and secure

ICICI Bank Canada is a member of the Canadian Deposit Insurance Corporation. Deposits that are eligible for deposit insurance from the Canada Deposit Insurance Corporation (CDIC) are listed in our Deposit Register, subject always to coverage limitations as outlined by CDIC. To learn more about current coverage for business deposits, visit www.cdic.ca

Early redemption

Early redemption is available on all terms. A notice period for redemption is required for Redeemable GICs or Term Deposits above $4,999,000 with a term of up to 1 year. This notice period is declared on the application form for Redeemable 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 Disclosure Statement of Fees and Charges for Business Accounts.

Auto renewal

Auto-renewal is available for Redeemable GICs or Term Deposits with terms of 1 year and above. As per the instructions on your application form, for Redeemable 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.

FAQs

What are Redeemable GIC & Term Deposits?

Redeemable GICs and Term Deposits are fixed-rate investments that let you earn confirmed interest while still giving you the flexibility to take your money out before the term ends. With ICICI Bank Canada, early redemption is allowed on all terms, though large deposits under a one-year term may require advance notice.

Can I redeem early?

Yes, early redemption is available.

All GICs and Term Deposits can be redeemed before maturity. For deposits above $4,999,000 with terms under one year, a prior notice period applies as stated in the application form.

For details, refer to the Disclosure Statement of Fees and Charges for Business Accounts.

What is the minimum deposit?

You need a minimum deposit of $1,000 in the currency you choose, whether it’s Canadian dollars or US dollars.

Is auto-renewal offered?

Auto-renewal is available for terms of one year or above.

VIEW ALL FAQs

Your cookie settings

Choose and adjust the cookie settings you’re comfortable with, and learn more about how we use cookies.

Essential

These cookies are vital for smooth browsing, faster page loading and ensuring the website works as it should. This feature is always active.

Performance and Statistical

These cookies recognize you, remember your preferences and track site performance, ensuring proper functionality without direct identification.

Targeting

Targeting cookies customize your experience by showing offers that match your interests, making your visit more relevant and engaging.

Disclaimer

PROCEED