BMO offers a wide range of Guaranteed Investment Certificates (GICs), giving investors plenty of choice between cashable, non-redeemable, U.S. dollar, and market-linked options. Most come with a minimum investment of $1,000 and can be held in accounts like an RRSP or TFSA, making them flexible for different savings goals.
Rates vary depending on the type and term—non-cashable GICs start at 2.25% for a 1-year term, while longer commitments go up to 3.35% for 10 years. Market-linked GICs can deliver returns of up to 45% based on Canadian market performance, and BMO even offers specialty products like Air Mile GICs. While the returns are generally modest compared to other investment options, they’re competitive for a big bank and offer a safe, low-risk way to grow your money.
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BMO GICs features
Here’s what BMO has to offer in terms of GICs.
Verified on August 29, 2025
Why You Want It
Choose from a variety of GIC options + Get competitive rates.
Special Features
- Air Mile GICs available
- Special rates of 12 months at 2.75%
- Up to 45% on BMO's Canadian market-linked GICs
Provinces
ALL
GIC
Non-Cashable
1 Year
2.25%
18 Months
2.25%
2 Years
2.4%
3 Years
2.55%
4 Years
2.7%
5 Years
3%
6 Years
3.25%
7 Years
3.3%
10 Years
3.35%
Features
Minimum Investment
$1,000
Available As FHSA
Minimum Cashable GIC Term (Days)
1
Available As RRSP
Maximum Cashable GIC Term (Days)
1,825
Available As TFSA
Minimum Non-Cashable GIC Term (Days)
30
Available As RRIF
Maximum Non-Cashable GIC Term (Days)
3,650
Minimum Market Linked GIC Term (Days)
1,095
Maximum Market Linked GIC Term (Days)
2,190
Minimum U.S. Dollar GIC Term (Days)
30
Maximum U.S. Dollar GIC Term (Days)
1,825
BMO GICs rating: 3.9 stars
BMO offers a wide range of different GICs, including some market-linked GICs, and most have a reasonable minimum investment of $1,000. The return on your BMO GIC investment is relatively minimal, however, often no better than those you can get with some of the better high interest savings accounts (which don’t tie up your money, so you can always get at it). All these things factored in, we’ve given BMO GICs 3.9 out of 5 stars.
Rating methodology
To calculate our Genius Ratings, we compare the features of the account or product in question with other similar products in Canada. We give each feature a score out of 5 based on that comparison. Once we’ve rated all the features, we run them through our proprietary algorithm to produce a final rating out of 5.
Learn more about our rating methodology.
The pros of BMO GICs
So, what do BMO GICs have going for them?
Pros
Low risk investment
GICs are an absolutely safe way to invest your money. The “guaranteed” part of GIC is that you will not lose any money you invest, and, if you leave your money invested for the full term, you will earn interest at the rate given when you invested. (This depends on the GIC you buy in to, of course, different GICs will have different rates and details. Be sure to read the fine print.)
There are no fees to invest in GICs
Banks like GICs because you let them hang on to your money for an extended period of time without having to pay huge amounts of interest on it at maturity. Their GIC rates are carefully calculated to ensure that the bank won’t lose any money, and any costs associated with these investments are generally included in these calculations. Long story short: there is no fee charged when you invest in a GIC.
Guaranteed returns
If you’re looking for a low risk way to make a guaranteed return, GICs are for you. Returns are generally small, but they are guaranteed, so long as you don’t withdraw your money before the GIC comes to maturity.
BMO Market Growth GIC
BMO offers an array of GICs with the same low risk, but that have a higher potential return. These are called “market-linked investments” and their growth is linked to the stock market. If the market does well, you can earn some significant returns. But if the market doesn’t do well, you still won’t lose your initial investment. These can be a good option if you’re willing to tie your money up for the longer terms these require, but there’s also no guarantee that you’ll actually make anything at all.
Available as registered accounts
If you want to do some investing in a registered account, you can use BMO GICs with an RRSP and TFSA.
The cons of BMO GICs
So, what are the drawbacks?
Cons
Higher return GICs generally tie up your money for a relatively long period
It generally holds that the longer you let a bank hold on to your money in a GIC, the higher your returns will be. And that’s great, except…then your money’s tied up for several years. If you end up needing that money before the term is up, you’re going to miss out on the returns and possibly have to pay a penalty. Which brings us to…
Interest is paid at maturity
GICs generally pay out at the end of their term. This means that if you withdraw your money early, you usually will get nothing for your time. That’s one of the trade offs you make for the GICs guaranteed return. Also…
There can be penalties for early withdrawal
For some non-redeemable GICs, you may pay a penalty if you withdraw your money before the end of the investment period. These penalties vary between GICs and banks, so just be sure to get those details before redeeming your GIC early.
BMO GICs alternatives
So, how do BMOs GIC offerings stack up against some of the other big banks?
 |  |  |  | |
|---|---|---|---|---|
| Account | BMO GICs | Scotiabank GICs | Tangerine GICs | RBC GICs |
| Genius Rating | ||||
| Why You Want It | Choose from a variety of GIC options + Get competitive rates. | Get flexible terms and interest rates + 100% guaranteed return. | Ultra competitive rates + No minimum investment to get started. | Plenty of cashable options + Get personalized advice with MyAdvisor. |
| GIC | Non-Cashable
| Cashable
Non-Cashable
| Non-Cashable
| Cashable
Non-Cashable
|
| Minimum Investment | $1,000 | $500 | $1 | $1,000 |
| Available As FHSA | | | | |
| Minimum Cashable GIC Term (Days) | 1 | 365 | N/A | 30 |
| Available As RRSP | | | | |
| Maximum Cashable GIC Term (Days) | 1,825 | 365 | N/A | 3,650 |
Show More | ||||
| Open an account See more BMO products Compare | Open an account See more Scotiabank products Compare | Open an account See more Tangerine products Compare | Learn More See more RBC products Compare |
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BMO GICs FAQ
Which BMO GICs have the best rates?
For guaranteed returns, you’ll get the highest rates with non-redeemable GICs. These are longer-term investments that will tie your money up for up to 10 years. Generally, the longer the term, the better your return.
Are there penalties for withdrawing from GICs early?
For most non-redeemable GICs, you will pay a penalty for withdrawing your money early. This is the one major drawback to GICs, and if you’re not sure whether you’ll need that money before the end of the term, you’d be better off putting it in a high interest savings account, instead.
What’s the minimum investment required for a BMO GIC?
While there are some exceptions, most BMO GICs have a minimum investment requirement of $1,000.
Editorial Disclaimer: The content here reflects the author's opinion alone, and is not endorsed or sponsored by a bank, credit card issuer, rewards program or other entity. For complete and updated product information please visit the product issuer's website.
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