Renew a GIC Online

Renew a GIC in Online/ Mobile Banking

By Choosing to Renew Online, You’ll Receive The Bonus Rate*

Note: You will see a yellow banner at the top of your online banking when you have an investment maturing in 30 days. 

To get started, follow the instructions below: 

Step 1: 

• Sign in to Online Banking 

• Select the investment with the “Confirm Options” Flag 

Step 2:  

Note: You must go through the entire process and confirm your options to receive the bonus rate 

• Click “Confirm Options.” 

• You can change your maturity instructions outside of the 30-day maturity window by selecting “Manage.” 

Step 3:  

Complete the renewal form. 

You can choose between three options: 

Option 1: Reinvest the full amount 

• Choose to either re-invest into the same term or select a different term using the toggle under “Choose Your Next Term.” 

• Agree to the terms and conditions and select “Confirm.” 

Option 2:  Reinvest some and withdraw the rest 

• Enter the amount you would like to reinvest. Note that the minimum amount is $1000. The remaining balance, plus interest earned at maturity, will be your withdrawal amount. 

• Select the account that you would like to transfer your withdrawn funds to.  

• Choose to re-invest into the same term or select a different term using the toggle under “Choose Your Next Term.” 

• Agree to the terms and conditions and select “Confirm.” 

Option 3: Close and transfer to account 

Note: You can choose to close your investment and transfer the balance plus interest earned at the end of the term to one of your accounts 

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from these accounts, it is a 2-step process where funds will be deposited into your variable account and then must be withdrawn into the chequing or savings account of your choosing.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

• Read and agree to the terms and conditions. 

• Click “Confirm” 

Step 4:   

• Review the investment instructions and click “Submit.” 

Step 5:  

You will be directed to a confirmation screen where you can choose to navigate back to the GIC screen or back to the Accounts screen. 

If you have any questions or need assistance from a Coach, please contact us 

*Not applicable on special offer rates