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 deposits

Terms C$ Non-Redeemable GICs

US$ Non-Redeemable Term Deposits

1 month 2.75% 2.75%
2 months 3.00% 3.25%
3 months 3.50% 4.25%
6 months 4.00% 5.00%
9 months 4.25% 5.15%
1 year 4.50% 5.00%
15 months 4.50% 5.00%
18 months 4.60% 5.00%
2 years 4.25% 5.00%
3 years 4.00% 4.75%
4 years 4.00% 4.75%
5 years 4.00% 4.75%

 

Rates are as of September 06, 2024 on CAD Non-Redeemable GIC and as of August 13, 2024 on USD Non-Redeemable Term Deposits 

Minimum of C$/US$ 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

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