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TERM DEPOSITS (Guaranteed Investment Certificates)

We offer both redeemable and non-redeemable GICs at attractive rates..

  • GICs are available both in Canadian Dollar (CAD) and US Dollar (USD).
  • Our GICs offer attractive rate of interest for various maturities. (Latest Interest Rates)
  • Interest on the GICs is compounded annually and paid out at the end of the term.
  • If the GIC is for a term of less than one year, simple rate of interest calculated on the entire term of the investment shall be paid.
  • Non-Redeemable GICs are available for periods ranging from 6 months to 5 years. Non-Redeemable GICs may not be redeemed before maturity.
  • Redeemable GICs are available for periods ranging from 1 year to 5 years.
  • Redeemable GICs - If redemption is made within 6 months of opening the redeemable GIC, No interest will be paid. (please refer to redeemable GIC disclosures available on our website -
  • Non-Redeemable GICs will not be redeemed before the maturity date and you will not have access to funds before maturity.
  • Non-Redeemable GICs - If the Bank permits early redemption of the non-redeemable GIC at its sole discretion for reasons of financial hardship: (i) No Interest will be paid on the non-redeemable GIC; and (ii) An administrative fee of $25.00 will be charged. This administrative fee will be deducted from the principal amount at the time of making the premature payment of the non-redeemable GIC. (Please refer to non-redeemable GIC disclosure available on our website -
  • Safety of Deposits: SBI Canada Bank is a member of CDIC. (To find out information about deposit insurance from the Canada Deposit Insurance Corporation including what instruments and/or products are eligible for deposit insurance, visit their website Information on deposit insurance is also available in the CDIC brochure entitled "Protecting Your Deposits")

For detailed disclosures on Redeemable GICs click here

For detailed disclosures on Non Redeemable GIC click here

How to Open an Account Click Here




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