Term Deposits & GICs

What are term deposits and GICs?

Guaranteed Investment Certificates pay a fixed rate of interest for a specified term between one and five 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.

Who should buy them?

  • 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.

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

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.

Already bank at Libro?

You can purchase and renew GICs with funds in an existing Libro account, in Online Banking!

  • The online purchase process takes less than five minutes
  • Begin by logging in, tap the ‘plus sign’ or ‘open account’ button on the accounts dashboard and selecting ‘Investments’.
  • You can purchase non-registered or registered GICs online, provided you already have the according registered account.
  • If you’d like to open a new registered account for a GIC contact a Libro Coach at 1-800-361-8222, or book a meeting.
  • By choosing to purchase online, you’ll receive a bonus rate!
    *Not applicable on special offer rates
  • You can choose between short- or long-term investment timeframes and easily compare rates

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

Not yet banking at Libro?

Speak with a Libro Coach today to learn more about investing at Libro and how to get started.

If you have GICs in your RRSP portfolio, ask a Libro Coach about five-year ladders to minimize your interest rate risk over time.

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