Monthly Income GICs

Turn your savings into a steady monthly income

A Monthly Income GIC can help you create predictable cash flow while keeping your investment working for you. With a fixed term of 1–5 years, you receive interest payments automatically each month, while your original investment remains invested until maturity.

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Libro staff in Woodstock branch
Libro Coach, Bradey

Indigenous Settlement Claims

Monthly Income GICs were introduced as a secure option to help Indigenous Settlement Claim recipients earn regular monthly income while keeping their original investment protected. The First Nations Child and Family Services and Jordan's Principle Settlement recognizes and compensates First Nations children and families who were impacted by discrimination in the delivery of child and family services and Jordan's Principle. For many recipients, these compensation payments represented an opportunity to support long-term financial well-being and future goals. Monthly Income GICs were introduced as a secure option to help individuals earn regular monthly income while keeping their original investment protected. While initially designed to support those receiving settlement funds, they continue to be a trusted choice for anyone seeking predictable income and financial confidence.

Why consider a Monthly Income GIC?

  • Predictable monthly income to help with regular expenses and financial goals
  • Fixed term of 1–5 years
  • Keep your investment in place while receiving monthly interest payments
  • Available in Non-Registered and TFSA accounts
A family of four stands in front of a garage, with a basketball hoop above them. The girl holds a basketball while the boy stands beside her. The parents stand behind, smiling.
Libro members, Nicole, Kyle and Family

Frequently Asked Questions

Interest payments are made monthly, giving you a regular and predictable stream of income.

Monthly Income GICs are available with terms from 1 to 5 years.

GICs are designed to be held until maturity. Depending on the specific GIC terms, early withdrawal may not be permitted. Ask a Libro advisor about the options available to you before investing.

For Non-Registered investments, interest income is generally taxable and must be included as income. Your tax situation may vary, so it's important to consider how the investment fits into your overall financial plan.

Tax-Free Savings Account (TFSA) Tax Implications

A monthly income GIC held within a TFSA can provide tax-free interest income, as the interest earned is generally not taxable while it remains in the TFSA. Whether the GIC interest is paid out monthly or automatically reinvested does not change the tax treatment within the TFSA; in either case, the earnings remain sheltered from tax. The key consideration is that withdrawals from the TFSA are tax-free, while withdrawals also restore contribution room in the following calendar year.

Interest income from a Non-Registered GIC can affect income-tested benefits or credits. If you're investing a significant amount, talking with a Libro advisor can help  you understand the potential impact.

Both can provide a fixed-term investment. The key difference is when you receive the interest. A Monthly Income GIC provides interest payments monthly, which can make it useful when regular cash flow is a priority.

Let's talk about your goals.

Could it be right for you?

The right investment depends on your income needs, tax situation, timeline and overall financial plan. Monthly Income GIC may be worth exploring if you're:

  • Supporting a child or grandchild with ongoing education costs
  • Looking for predictable income in retirement
  • Receiving a settlement and prefer steady income over a lump sum
  • Bridging the gap between retirement and the start of pension income
Book a Meeting

Prefer to talk now? Call 1-800-361-8222.

Your needs are unique.

A Monthly Income GIC is one option to consider as part of a broader financial plan.

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