TD GICs are an easy way to earn a modest guaranteed investment on some of your money. Like most banks in Canada, TD offers several types of Guaranteed Investment Certificates (GICs) to give their clients low-risk alternatives to more traditional stock market investing.
These GICs have decently low minimum investments, mostly ranging between $500 and $1,000. TD also offers both cashable and non-cashable GICs, so you have lots of choice for your investment portfolio. You can also choose to take on a bit more risk with market linked GICs, though TD does currently guarantee a minimum return starting at 4.5% (at the time of writing).
TD GICs features
Let’s take a look at what TD offers Canadians in terms of GICs.
Why You Want It
Competitive rates with an impressive selection + Low minimum investment.
Special Features
- Special offer on 100-day term cashable GICs
- Unique TD International Student GIC option
Provinces
ALL
GICs
Cashable
1 Year
2%
Non-Cashable
1 Year
2.7%
2 Years
2.75%
3 Years
2.9%
4 Years
3%
5 Years
3.25%
Features
Minimum Investment
$500
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)
1,825
Minimum Market Linked GIC Term (Days)
1,095
Maximum Market Linked GIC Term (Days)
1,825
Minimum U.S. Dollar GIC Term (Days)
1
Maximum U.S. Dollar GIC Term (Days)
1,825
Please note that GIC rates change often – the numbers you see here are for illustrative purposes only. Please visit the bank’s website for the most up-to-date information.
TD GICs product rating: 5.0 stars
You have a lot of options when it comes to investing with TD GICs – which is part of the reason they received a pretty favourable rating. Whether you’re looking for cashable, non-cashable, market linked, or US Dollar options, TD has something for you.
And TD GIC rates are some of the highest you’ll see from a big bank, at least right now. It’s good to keep in mind that GIC rates change often, but it’s always a good sign if a bank can keep their head above their competition.
There’s an impressive selection of TD GICs available, which gave them a big lead in terms of their ratings. They also had better-than-average rates for a lot of their offerings. That said, they didn’t have amazing rates and their minimum investments were mostly industry standard.
Rating methodology
In order to come up with our star rating system, we separate a product into its foundational parts – which you can see in the table above. We then give each feature a score out of 5, depending on how it does in comparison to similar products on the market.
Learn more about our rating methodology.
The pros of TD GICs
Here are the benefits of buying a GIC from TD Bank.
Pros
Cashable GICs give you liquidity in your investments
If you opt for one of TD’s cashable GICs, you’ll be able to access your money early, though only at predetermined times. This means your money isn’t as tied up as it usually is, giving you flexibility if an emergency comes up. Just keep in mind cashable GICs usually come with lower rates as well.
Offers market linked GICs for higher return potential
If you’re interested in the guaranteed return of a GIC but are aching for higher returns, the market growth GICs that TD offers may be able to help. They’re connected to the stock market so you have potential for higher returns, but there’s still a guaranteed minimum return.
Relatively low minimum investments on most GICs
Most of TD’s GICs have minimum investments of $1,000, but some can even go as low as $500. Though this is the industry standard and didn’t score them any extra points, it’s still a decent starting point for new investors looking to get their feet wet in GICs.
Can be part of a registered account
If you're looking for another way to invest with an RRSP, TFSA, FHSA, or an RESP, you can use TD GICs as part of your overall investment portfolio with these registered accounts (with a few exceptions).
The cons of TD GICs
And here are a couple things to keep in mind when investing with TD GICs.
Cons
Non-redeemable GICs tie up your money
If you opt for a non-redeemable GIC, you won’t be able to access your money again until your term matures. This could become a problem if you run into emergency situations.
Your TD GIC calculator
Want to see what your investment would be worth once your term matures?
Play around with our savings calculator. Just make sure to set your contributions to $0, since you won’t be able to contribute to a GIC once it’s been bought.
Savings Info
TD GICs alternatives
Here’s how the TD GICs compare to other big players on the market.
 |  |  |  | |
|---|---|---|---|---|
| Account | TD GICs | Tangerine GICs | Scotiabank GICs | RBC GICs |
| Genius Rating | ||||
| Why You Want It | Competitive rates with an impressive selection + Low minimum investment. | Ultra competitive rates + No minimum investment to get started. | Get flexible terms and interest rates + 100% guaranteed return. | Plenty of cashable options + Get personalized advice with MyAdvisor. |
| GICs | Cashable
Non-Cashable
| Non-Cashable
| Cashable
Non-Cashable
| Cashable
Non-Cashable
|
| Minimum Investment | $500 | $1 | $500 | $1,000 |
| Available As FHSA | |  | | |
| Minimum Cashable GIC Term (Days) | 1 | N/A | 365 | 30 |
| Available As RRSP | | | | |
| Maximum Cashable GIC Term (Days) | 1,825 | N/A | 365 | 3,650 |
Show More | ||||
| Open an account See more TD products Compare | Open an account See more Tangerine products Compare | Open an account See more Scotiabank products Compare | Learn More See more RBC products Compare |
Please note that GIC rates change often – the numbers you see here are for illustrative purposes only. Please visit the bank’s website for the most up-to-date information.
FAQ
What are TD GICs?
GICs, or Guaranteed Investment Certificates, are a type of investment. When you buy a GIC, you agree to a term and a certain return, which is then guaranteed for the term you bought it for. Most GICs won’t let you cash out your money before your term is out, but you do have that option with cashable GICs.
What kind of GICs does TD offer?
TD offers plenty of different GICs for Canadians, including cashable, non-cashable, market-linked, US Dollar, and more. Click here to see what you have available.
What’s a TD Market Growth GIC?
A TD Market Growth GIC is connected to the stock market, so it has a higher potential for return. That said, the higher return isn’t guaranteed, so you have a bit more risk with these types of GICs. They do offer a guaranteed minimum investment, so you won’t lose money on these investments, at least. Click here to see everything TD has to offer.
Should I invest in a TD GIC?
If you’re looking for a low risk investment to put some money aside, a GIC is a great tool. Just don’t go into GIC investments looking for any type of major return – it’s a low risk, low return tool.
What are TD GIC rates?
GIC rates change often, so it’s best to visit TD’s site directly. At the time of writing, TD offers competitive rates for a big bank, but not when you consider online banks. See the best GIC rates here.
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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