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Published April 10, 2024
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Best TD GIC Rates

TD Bank is one of the big 6 banks that offers a range of GICs at terms, interest rates and redeemability options starting at a $500 minimum deposit.

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own.

Toronto-Dominion Bank, commonly referred to as TD Bank, was founded in 1855. Since then, TD Bank has expanded globally, increased its product line, and acquired other financial institutions. TD Bank is now recognized as one of the Big 6 Banks in Canada.

TD’s current GIC rates

Below are TD Bank GIC rates for some of TD Bank’s most popular GICs, as of April 10, 2024.

The GIC rates for non-redeemable GICs are based on annually compounded interest and the market-linked GIC rates include the minimum guaranteed return and the maximum full-term return.

TermInterest RateGIC Type
1 – 29 daysUp to 3.30%TD U.S. Dollar Term Deposit
30 days2.25%TD Non-Cashable Short-term GIC
30 – 59 days2.85%, up to 3.05%TD U.S. Dollar Term Deposit
60 days2.50%TD Non-Cashable Short-term GIC
60 – 89 days3.00%, up to 3.20%TD U.S. Dollar Term Deposit
90 days2.75%TD Non-Cashable Short-term GIC
90 – 119 days3.15%, up to 3.35%TD U.S. Dollar Term Deposit
100-daysUp to 4.00%TD Cashable GIC – Special Offer
120 days3.00%TD Non-Cashable Short-term GIC
120 – 179 days3.30%, up to 3.50%TD U.S. Dollar Term Deposit
180 days3.25%TD Non-Cashable Short-term GIC
180 – 269 days3.55%, up to 3.75%TD U.S. Dollar Term Deposit
270 days3.50%TD Non-Cashable Short-term GIC
270 – 369 days3.70%, up to 3.90%TD U.S. Dollar Term Deposit
1 year4.90%TD Non-Cashable Long-term GIC
1 year4.75%TD U.S. Dollar Long-term GIC – Non-Cashable
1 year3.00%TD 1 Year US Dollar Cashable GIC
1 year3.00%TD 1 Year Cashable GIC
14 monthsUp to 4.90%TD Non-Cashable GIC – Special Offer
18-monthUp to 4.70%TD Non-Cashable GIC – Special Offer
2 years4.50%TD Non-Cashable Long-term GIC
3 years4.30%TD U.S. Dollar Long-term GIC – Non-Cashable
2 years4.55%TD U.S. Dollar Long-term GIC – Non-Cashable
3 years4.25%TD Non-Cashable Long-term GIC
3 years3.50%TD 3-year Premium Rate Cashable GIC – Special Offer
3 years6.00%, up to 30.00%TD Canadian Banking & Utilities GIC
3 years10.00%, up to 25.00%TD Canadian Banks GIC
3 years7.00%, up to 20.00%TD U.S. Top 500 GIC
4 years4.30%TD U.S. Dollar Long-term GIC – Non-Cashable
4 years4.25%TD Non-Cashable Long-term GIC
5 years4.30%TD U.S. Dollar Long-term GIC – Non-Cashable
5 years4.25%TD Non-Cashable Long-term GIC
5 years15.00%, up to 50.00%TD Canadian Banking & Utilities GIC
5 years20.00%, up to 35.00%TD Canadian Banks GIC
5 years12.00%, up to 32.00%TD U.S. Top 500 GIC

TD 3-Year Premium Rate Cashable GIC

TD 3-Year Premium Rate Cashable GIC
  • Term Length
    3 Years
  • Interest Rate
    3.50%
    As of April 4, 2024
  • Minimum Deposit
    $500
  • Bonus Offer
    N/A
Our Take
  • TD Bank GICs offer a variety of registered and non-registered options, the choice of cashable and non-cashable terms, and competitive market-linked GIC rates for those who’re in it for the long haul.
  • Toronto-Dominion Bank, or TD Bank, is one of Canada’s Big Six banks serving millions of personal and business customers globally. TD Bank offers spendings, savings and investment accounts, loans and more. Read our TD bank review for more information.
Product Details
  • Cashable GICs give you the flexibility of cashing out early and security of a guaranteed rate for the period of your term.
  • The minimum deposit for a non-registered or TFSA plan is $1,000, or $500 for an RRSP.
  • Your original investment and interest payments are guaranteed.
  • Interest is calculated only on the original principal and not on the sum of the principal plus accrued interest.
  • On non-registered and TFSA plans, simple interest is paid annually and at maturity. On registered RSPs, simple interest is calculated annually and paid at maturity.
  • Access your funds at any time, subject to the tiered pre-encashment rates, minimum redemption amount and minimum remaining balance requirements.
  • Redemptions before 91 days will pay no interest.
  • The GIC’s principal is automatically renewed at maturity into a TD 1-Year Cashable GIC.
  • Eligible deposits are by the Canada Deposit Insurance Corporation.

TD 1 Year Cashable GIC

TD 1 Year Cashable GIC
  • Term Length
    1 Year
  • Interest Rate
    3.00%
    As of April 4, 2024
  • Minimum Deposit
    $500
  • Bonus Offer
    N/A
Our Take
  • TD Bank GICs offer a variety of registered and non-registered options, the choice of cashable and non-cashable terms, and competitive market-linked GIC rates for those who’re in it for the long haul.
  • Toronto-Dominion Bank, or TD Bank, is one of Canada’s Big Six banks serving millions of personal and business customers globally. TD Bank offers spendings, savings and investment accounts, loans and more. Read our TD bank review for more information.
Product Details
  • Cashable GICs give you the flexibility of cashing out early and security of a guaranteed rate for the period of your term.
  • The minimum deposit for a non-registered or TFSA plan is $1,000, and for RRSP, RESP and RIF it’s $500.
  • Your original investment and interest payments are guaranteed.
  • Interest is calculated only on the original principal and not on the sum of the principal plus accrued interest.
  • Simple interest paid at maturity.
  • Access your funds in full or in part after 30 days. Subject to the tiered pre-encashment rates, minimum redemption amount and minimum remaining balance.
  • The GIC’s principal is automatically renewed at maturity into a TD 1-Year Cashable GIC.
  • Eligible deposits are by the Canada Deposit Insurance Corporation.

TD Special Offer 14 Months Non-Cashable GIC

TD Special Offer 14 Months Non-Cashable GIC
  • Term Length
    14 Months
  • Interest Rate
    4.90%
    Promotional rate
  • Minimum Deposit
    $500
  • Bonus Offer
    N/A
Our Take
  • TD Bank GICs offer a variety of registered and non-registered options, the choice of cashable and non-cashable terms, and competitive market-linked GIC rates for those who’re in it for the long haul.
  • Toronto-Dominion Bank, or TD Bank, is one of Canada’s Big Six banks serving millions of personal and business customers globally. TD Bank offers spendings, savings and investment accounts, loans and more. Read our TD bank review for more information.
Product Details
  • An attractive choice for investors who can lock in their funds for a specific term to earn a higher rate of interest.
  • The minimum deposit for a non-registered and TFSA plan is $1,000, and for RRSP, RESP and RIF it’s $500.
  • Your original investment and interest payments are guaranteed.
  • Compound interest is calculated annually and paid at maturity.
  • Not cashable unless for RIF/RESP payments.
  • On the date of renewal, the principal and interest is automatically renewed to another TD Special Offer GIC of the same term to maturity at the interest rate in effect for the renewed investment.
  • Eligible deposits are by the Canada Deposit Insurance Corporation.

TD Canadian Banks 3 Year GIC

TD Canadian Banks 3 Year GIC
  • Term Length
    3 Years
  • Interest Rate
    10%-25%
    As of April 4, 2024
  • Minimum Deposit
    $500
  • Bonus Offer
    N/A
Our Take
  • TD Bank GICs offer a variety of registered and non-registered options, the choice of cashable and non-cashable terms, and competitive market-linked GIC rates for those who’re in it for the long haul.
  • Toronto-Dominion Bank, or TD Bank, is one of Canada’s Big Six banks serving millions of personal and business customers globally. TD Bank offers spendings, savings and investment accounts, loans and more. Read our TD bank review for more information.
Product Details
  • Suitable for investors who want to capitalize on the growth potential of the leading stock markets without risking their principal investment.
  • You pay no fees to invest in this Market Growth GIC.
  • The minimum deposit for a non-registered and TFSA plan is $1,000, and for RRSP, RESP and RIF it’s $500.
  • Guaranteed minimum interest return is compounded annually and paid at maturity.
  • Bonus interest, if any, is paid at maturity.
  • Not cashable unless for RIF/RESP payments.
  • Eligible deposits are by the Canada Deposit Insurance Corporation.

TD US Dollar 270 to 369 Days Term Deposit

TD US Dollar 270 to 369 Days Term Deposit
  • Term Length
    270 to 369 days
  • Interest Rate
    Up to 3.90%
    As of April 4, 2024
  • Minimum Deposit
    US$5,000
  • Bonus Offer
    N/A
Our Take
  • TD Bank GICs offer a variety of registered and non-registered options, the choice of cashable and non-cashable terms, and competitive market-linked GIC rates for those who’re in it for the long haul.
  • Toronto-Dominion Bank, or TD Bank, is one of Canada’s Big Six banks serving millions of personal and business customers globally. TD Bank offers spendings, savings and investment accounts, loans and more. Read our TD bank review for more information.
Product Details
  • For investors who want to diversify and grow a secure investment with one of the world’s strongest currencies and guaranteed rate of return.
  • Simple interest is calculated on the principal amount.
  • Offered within Non-registered plans only.
  • Minimum deposit is US$5,000 for a 30-369 day term, or US$100,000 for a 1-369 day term.
  • Cashable in full prior to maturity with no interest paid.
  • Can be opened online if you have a TD Canada Trust account.
  • No withholding tax applicable for non-residents.
  • Eligible deposits are by the Canada Deposit Insurance Corporation.
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What to know about TD Bank GICs

Included in TD Bank’s wide product offering are guaranteed investment certificates, or GICs. TD Bank GICs typically  offer competitive interest rates and flexible terms. In addition, GIC deposits with TD Bank are covered up to $100,000, thanks to Canadian Deposit Insurance Corporation (CDIC) protection.

How to choose an TD Bank GIC

When choosing a TD Bank GIC, consider the following:

GICs are a low-risk investment. The returns might not be as high as what’s possible with other types of investments, but your principal investment is always guaranteed. And with interest rates on the risee in Canada as of late, TD GIC rates have become a very attractive option for those looking to grow their savings.

Generally, GICs are an attractive choice for people who have a short investment timeframe or want to grow their wealth without risking it. 

Since GICs can be purchased within your Tax-Free Savings Account (TFSA) and Registered Retirement Savings Plan (RRSP), there are tax benefits to take advantage of as well. 

Alternatively, you can purchase GICs in a non-registered account since they can still provide you with a good interest rate.

Types of TD Bank GICs

TD Bank offers five types of GICs. Each one has different interest rates, terms available, and options, so you should have no problem finding one that suits your needs.

  • Market Growth GICs: The amount of interest you’ll earn is linked to market performance, but your principal investment is guaranteed with a minimum TD GIC rate.
  • TD Special Offer GICs: These fixed-rate GICs have competitive rates and can be automatically renewed.
  • Cashable GICs: With cashable GICs, you can access your money anytime while earning a guaranteed return.
  • Non-Cashable GICs: If you’re willing to lock in your money for a set term, you can get a higher interest rate with non-cashable GICs.
  • TD U.S. Dollar GICs & Term deposits: You can purchase U.S. dollar GICs in a non-registered account with TD.

TD Bank GIC terms

TD Bank offers flexible GIC terms, including:

  • Short terms (1 day to 1 year)
  • Mid-length term (2 – 4 years)
  • Long term (5 years)

Yes, you read that correctly: TD Bank offers GIC terms as short as one day, but only with a minimum deposit of at least $100,000 USD.Generally, the longer term you take, the higher your TD GIC rates will be, and the more you’ll earn.

How to open an TD Bank GIC

To get a TD Bank GIC, you must meet the following requirements:

  • Have a Social Insurance Number.
  • Live in Canada with a Canadian address.
  • Have reached the age of majority in the province or territory in which you reside.
  • Have a TD personal deposit account.
  • Be registered for TD’s EasyWeb online banking.
  • Be able to satisfy the minimum investment amount, which ranges from $500 to $1,000, depending on the GIC you choose.

The quickest way to buy a TD Bank GIC is to do it online. Assuming you have the funds in your account already, you can purchase a GIC while logged into your TD Bank account. Alternatively, you can call TD or walk into a branch to have someone assist you.

How to close an TD Bank GIC

Cashable TD Bank GICs can be redeemed at any time. To do so, you will probably have to contact TD by phone, go into a branch, or write them a letter. Non-cashable GICs can not be redeemed until they mature. When your GICs mature, the money automatically deposits into your applicable TD account.

Since GICs are a product, not an account, there’s nothing to close. That said, once your principal and earnings are deposited into your account, don’t forget to either re-invest or withdraw them.

Alternatives to TD Bank GICs

Even though TD Bank offers competitive GICs, look for the best GIC rates that other banks and credit unions are offering.

If you want a GIC from a different bank 

If TD Bank GICs aren’t quite what you’re looking for, consider some other Big Banks:

Minimum depositAre deposits insured?
Best RBC GICsStarting at $500Yes, by the Canada Deposit Insurance Corporation.
Best National Bank GICsStarting at $500Yes, by the Canada Deposit Insurance Corporation.
Best BMO GICsStarting at $1,000Yes, by the Canada Deposit Insurance Corporation.
Best CIBC GICsStarting at $500Yes, by the Canada Deposit Insurance Corporation.
Best Scotiabank GICsStarting at $500Yes, by the Canada Deposit Insurance Corporation.

You could consider digital banks for the variety of GIC offering with competitive standard and bonus rates:

  • EQ Bank GICs often have high interest rates compared to traditional banks. 
  • Simplii Financial GICs held in RRSP and non-registered accounts for attractive interest rates.
  • Tangerine GICs are competitive, and offer wide range of terms and types of investment options.

If you want a different TD Bank product

Since GICs have limited growth opportunities, they’re not the best fit for every type of investor. Fortunately, TD Bank allows you to purchase a wide range of products that could suit your investment profile, such as:

To purchase some of these products, you may need to go through a TD Bank financial advisor or open an account with TD Direct Investing. 

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