Redeem a GIC Online

Members are able to redeem, partially or fully, from a redeemable GIC if the investment has been opened for a minimum of 90 days. This supports both registered and non-registered GIC types.    

To get started, follow the instructions below: 

Step One: 

• Sign in  to Online Banking. 

• Select the investment you would like to redeem. 

• Select “Redeem” at the top of the page. 

Step Two: 

• Toggle between options for “Partial Amount” and “Full Amount” redemption options. 

• For a full redemption, choose the account where you would like the funds deposited.  

• For registered accounts (TFSA, RRSP, and RRIF), you will only be able to transfer to a registered variable account under the same contract 

• To complete withdrawals from these accounts, it is a 2-step process where funds will be deposited into your variable account and then must be withdrawn into the chequing or savings account of your choosing. 

• For TFSAs, you can transfer funds from the variable account to an account of your choosing in Online and Mobile Banking. Withdrawing money from your TFSA also creates additional contribution room for next year. 

• For RRSPs and RRIFs accounts, you must talk to a Libro Coach to withdraw money to ensure you understand the tax implications. To do this, send us a Secure Message in Online Banking, Book a Meeting, or Give Us a Call. 

• Check boxes to confirm that you are aware that the GIC will be closed after a full redemption of investment and interest earned to date. 

• For a partial redemption, enter the amount you would like to redeem, and select the account where you would like the funds deposited. Note: A minimum of $1,000 must remain in the investment. 

Step Three: 

• Agree to the Terms and Conditions. 

• Review your maturity instructions for the remaining funds and click “Confirm.” If you would like to update these instructions, click “Edit.”