Term Deposits & GICs

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What are Term Deposits and GICs?

Guaranteed Investment Certificates pay a fixed rate of interest for a specified term between 1 and 5 years. Term Deposits pay fixed interest for a specified term between 30 and 365 days. There are no withdrawal privileges unless otherwise stated. The principal is guaranteed in both cases.

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Already bank at Libro?

You can purchase and renew GICs with funds in an existing Libro account, in Online Banking!
By choosing to purchase online, you’ll receive a bonus rate!
*Not applicable on special offer rates

Not yet banking at Libro?

Libro has a variety of investment options to suit your needs. Our Coaches are available virtually, by phone or in-person and are happy to help with all of your investing questions!

Frequently Asked Questions

I don’t want any risk. Should I put my entire portfolio in GICs?

That’s a tough question that probably requires a conversation with a Coach. Modern portfolio theory, including concepts such as asset allocation and diversification, would suggest that the correct way to build a strong portfolio is to mix different types of investments. When you factor in inflation and taxes, the actual return in your GIC may not be positive even if that conflicts with what it says on your statements.

Our best advice is to come in a talk to Coach today to look at your personal situation.

Who should buy Term Deposits & GICs?

  • Investors with a very low tolerance for risk
  • Those seeking income in retirement
  • People who want to put their savings out of reach for a specific period of time


Most investment portfolios will have a foundation of fixed-term products. How much of a foundation depends on you and your specific circumstances.

What are some features of Term Deposit and GICs?

  • Know in advance how much interest will be earned, reduced rate uncertainty.
  • Term Deposit or Guaranteed Investment Certificate (GIC) can be structured to suit individual needs.
  • Good for goal-oriented saving, as funds are “safe” from casual spending, with redeemable option for an emergency reserve.

What is the difference between a Term Deposit and GIC?

The key differences:

  • Term Deposits are available from 30 to 364 days.
  • Guaranteed Investment Certificates (GICs) are available from 1 to 5 years (12 – 60 months).

Can I renew a GIC online?

You can also renew a GIC in Online Banking!

  • 30 days from term maturity you’ll be given a reminder prompt. By clicking this you can renew on your own online.
  • If you realize you’d like a larger discussion on your reviewing your investments you can book a one-hour meeting with a Coach

Learn How to Renew A GIC Online

Ready to Purchase a GIC? Or Need More Information?

Our Coaches are available virtually, by phone or in-person and are happy to help!

Book a Meeting   or call us at 1-800-361-8222

Our contact centre, Libro Connect, is available by phone 8am-8pm Monday to Friday, 8am-4pm Saturday

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