Canada TD GIC Rates July 2024 – Check Yearly Increased Rates List

The Toronto Dominion Bank which is known as the TD Bank has been founded and helps the individuals to make investments. The GIC is known as the Guaranteed Investment Certificate which helps the people to make a safe investment and helps their money to grow. GIC provides very flexible terms and along with that the payment schedule has been provided too. The Canada TD GIC Rates July 2024 has been released and you shall check them through this article given below. The rates may be either long term or short term. The interest rates on investments are changed as per the time period.

Canada TD GIC Rates July 2024

The Toronto Dominion Bank which is the TD Bank is the Big 6 Banks in Canada and helps the individuals to grow their investments. The Guaranteed Investment Certificate is the most safe and secure way which will provide you the benefit to grow your investment and there is no chance that you can lose even a single penny if you invest. The rate of return on the investment is guaranteed and flexible terms are provided to the citizens and the beneficiary will earn an interest on investment and it will be provided once the GIC matures. You are guaranteed to get 100% of the principal amount and the amount of the interest which you will earn will be based on the GIC type which you will choose. 

The longer time you will invest, the more will be the interest rate provided to you. The amount of the time for the investment will range from 30 days to 10 years. The GIC may be of various types like the cashable and non cashable one, redeemable and non redeemable and can be registered or unregistered. GIC often works like a savings account where the interest is provided on investments. Simple Interest or Compound Interest becomes the basis for rates calculation. There is no drawback of GIC so it is very beneficial for you to invest in the GIC as it provides a fixed rate of interest. If the rate of return is low you will lose the value because of inflation and the taxes. You must refer to the post below to get the updates on the GIC Rates 2024 which are applicable. 

Canada TD GIC Rates July 2024

Canada’s GIC Rates July 2024

The rates of TD GIC remain fixed and the rates will be applicable for the month of July 2024. The GIC rate is based on the simple or the compound interest and the rates have become 3.80% as the lowest rates. The rates are always non redeemable and include the minimum guaranteed returns. 

Post Name Canada TD GIC Rates July 2024
Bank Name Toronto Dominion Bank
Country Canada 
Investment Known as Guaranteed Investment Certificate
Interest rates Minimum rate of 3.80%
Month July 2024
Investment range 30 days to 10 years 
Types of rates Cashable/Non Cashable, Registered/Non Registered, Short Term, Long Term 
Post TypeFinance

Types of Guaranteed Investment Certificate (GIC)

  • Cashable GIC: this provides flexibility and certainty and is up to the period of 1 year. You can withdraw money after 30 to 90 days and if the interest rate is high, you can take out money and invest in higher returns.
  • Non Cashable GIC: Under this the investment will be locked for a certain time say between 30 days to 5 years. The interest rates will be fixed for the length of investment.
  • Market Growth GIC: the ones who are looking for higher growth potential should consider the market growth GIC. The Stock market’s position will tell the rate of interest. 
  • Redeemable/Non Redeemable GIC: The Redeemable GIC will help you withdraw money early and is safe as the cashable GIC. 

TD’s GIC Rates 2024

Term Interest Rates GIC Type 
1 to 29 Days Up to 3.30%Term Deposit 
30 days 2.25%Non cashable short term GIC
30 to 59 days 2.85% to 3.05%Term Deposit 
6 days 2.50%Non cashable short term GIC
60 to 89 days 2.95% to 3.15%Term Deposit 
90 days 2.75%Non cashable short term GIC
90 to 119 days 3.10% to 3.3.%Term Deposit 
100 days 4%Cashable GIC
120 days 3%Non cashable short term GIC
120 to 179 days 3.25% to 3.45%Term Deposit 
180 days 3.25%Non cashable short term GIC
180 to 269 days 3.40% to 3.6%Term Deposit 
270 days 3.50%Non cashable short term GIC
270 to 369 days 3.55% to 3.75%Term Deposit 
1 year4.50%Non cashable long term GIC
1 year 4.75%Non cashable long term GIC
1 year 3%Cashable GIC
1 year 3%Cashable GIC
14 months Up to 4.5%Non Cashable GIC + Special Offer 
18 months Up to 4.35%Non Cashable GIC & Special Offer 
2 years 4.20%Non Cashable GIC + Special Offer 
3 years 4.3%Long Term GIC + Non Cashable 
2 years 4.55%Non Cashable Long Term 
3 years 4.10%Non Cashable Long Term 
3 years 3.5%Premium rate GIC + Special Offer 
3 years 6% to 30%Utilities GIC
3 years 9% to 22%Canadian Bank GIC
3 years 5 to 20%Top 500 GIC
4 years 4.3%Non Cashable Long Term GIC 
4 years 4.1%Non Cashable Long Term 
5 years 4.3%Non Cashable Long Term 
5 years 4.1%Non Cashable Long Term GIC
5 years 15 to 50%Utilities GIC
5 years 17 to 32%Canadian Bank GIC
5 years 11 to 30%Top 500 GIC

FAQs On Canada TD GIC Rates July 2024

What is known by Canada TD GIC?

The Toronto Dominion Bank’s Guaranteed Investment Certificate is the most safe way to make the investments.

What are the different types of GIC?

cashable/non cashable, redeemable/non redeemable and utilities and various others are the different types of GIC.

What is the time period of investments?

30 days to 5 years is the time period for the investments.

How much is the minimum rate of GIC?

The minimum rate of GIC is 3.80%.

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