What are GICs and Term Deposits?
Guaranteed investment certificates (GIC) and Term Deposits are lower risk investment products that pay a fixed rate of interest for a specific term. The key difference between a GIC and a term deposit is the length of the term. Term deposits generally have shorter terms between 30 and 365 days, and GICs have longer terms between 1 and 5 years.
Both can be held inside registered accounts like a TFSA or RRSP, or purchased as a non-registered investment with regular cash. It grows at a guaranteed rate regardless of which account type it’s in – the account type simply affects how the interest is taxed.
Current Specials
18-Month Deposit Special
3.45%
GIC, RRSP, RRIF, TFSA
Min. deposit $500. New funds only.
23-Month Deposit Special
3.40%
GIC, RRSP, RRIF, TFSA
Min. deposit $500.
30-Month Deposit Special
3.60%
GIC, RRSP, RRIF, TFSA
Min. deposit $500. New funds only.
GIC and Term Deposit Options
All of the GIC and Term Deposits listed below require a minimum investment of $500. Based on your specific situation and goals, you can make your Term Deposit non-registered or registered.
Guaranteed Investment Certificates (GIC) - Non-Redeemable
This popular term deposit is ideal for investors who want a higher rate of return. A non-redeemable GIC does not allow for access to the investment prior to the maturity of the term.
Key features:
- Minimum $500 investment
- Selection of terms available – view current rates
- Interest is calculated daily and paid annually
- Eligible for registered or non-registered plans
- Renewable
- Early withdrawals are not permitted
Redeemable Investment Certificates (Cashable GIC)
A Redeemable GIC can be a great investment for short and long-term goals, like saving for a major purchase, wedding costs, and retirement with a guaranteed rate of return for the period of your term. Ideal for investors who want to access their money at any time while earning a higher interest rate than a savings account.
Key features:
- Cashable without penalty after 30 days
- Minimum $500 investment
- 1 year term available
- Interest is calculated daily and will be compounded on the maturity date
- Eligible for RRSP/TFSA /Non-registered plans
- Renewable
- Automatic Investment Plan option is available
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Effective January 1, 2026, Kawartha Credit Union Limited will amalgamate with Libro Credit Union Limited.
On this date, Kawartha Credit Union Limited will begin operating as Kawartha Financial Services, a division of Libro Credit Union Limited.
On this date, Kawartha Credit Union Limited will begin operating as Kawartha Financial Services, a division of Libro Credit Union Limited.