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Guaranteed Investment Certificates (GIC)

Plan for your future with a guaranteed rate of return GIC investment

Canadian Dollar GIC

  • Earn higher interest than a term deposit
  • Enjoy the peace of mind of a worry-free investment
  • Relax knowing your principal is protected
  • Choose from a range of terms, from 30 days to 5 years

Earn higher interest with an HSBC Canadian Dollar GIC

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Redeemable GIC

  • Can be redeemed within the first 89 days (with no interest paid)
  • Available only as a 1-year term
  • Enjoy the peace of mind of a worry-free investment

TFSA Redeemable GIC

  • Earn tax-free interest on your deposit so your money grows faster3
  • Receive a competitive interest rate
  • Can be redeemed within the first 89 days (with no interest paid)
  • Available only as a 1-year term
  • Enjoy the peace of mind of a worry-free investment

Earn tax-sheltered income with a flexible TFSA Term Deposit

Already an HSBC Client?

1 Interest is calculated daily, not compounded, and is paid at the interval as opted by you (which may be monthly, semi-annually, annually or at maturity).

2 You can opt into our automatic renewal option when purchasing your GIC. If you don't notify us before maturity, we will automatically re-invest your deposit (either the principal only or principal and any interest earned) at the interest rate applicable on the date of renewal, to help maximize the growth of your savings. Consult your HSBC branch regarding any eligibility &/or restrictions with setting up an automatic renewal option on your GIC.

3 Only Canadian residents, who are over 18 years of age and have a valid Social Insurance Number, can make contributions to a Tax-Free Savings Account (TFSA). The age of majority is 19 for residents of Newfoundland & Labrador, New Brunswick, Nova Scotia, British Columbia, Northwest Territories, Yukon and Nunavut, which may delay the opening of a TFSA. However, the accumulation of contribution room will start at age 18. Annual contributions to TFSAs are subject to specific limits. Generally, the maximum contribution room for a year is equal to the total of unused TFSA contribution room from previous years, distributions (withdrawals) from TFSAs made in previous years and the TFSA dollar limit for the year in question. The annual contribution limit set to $6,000 CAD for 2020. This was previous set at $6,000 CAD from 2019, $5,000 CAD from 2009 to 2012, $5,500 CAD for 2013 to 2014, $10,000 CAD for 2015 and $5,500 CAD for 2016 to 2018. The maximum annual contribution applies to all of your TFSAs held with HSBC or any other financial institution. The Canada Revenue Agency (CRA) will track your contribution room. The CRA reports this amount to individuals through the “My Account” function on the CRA web site (www.cra.gc.ca/myaccount). Provided that contribution limits are not exceeded and contributions are made while the account holder is a resident of Canada, income earned in a TFSA is generally not subject to Canadian taxes. Taxes of other countries may apply. Excess contributions to your TFSA are subject to taxes, interest and penalties. Unlike an RRSP, any money you contribute to a TFSA will not itself be tax-deductible.

The content herein is not intended to provide specific tax advice and should not be relied upon in this regard. HSBC makes no guarantee, representation, or warranty and accepts no responsibility or liability as to the tax treatment of these services. For full details about TFSAs and how they relate to your own income tax and financial situation, please consult your personal tax advisor.

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