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Can I deposit more money into a GIC over my term period, or is the account off limits after one lump sum deposit?



Our response:

No, you usually cannot add money to an existing Guaranteed Investment Certificate (GIC). The return on your GIC is based on the original amount invested, the interest rate that was set at the beginning, and the funds staying in the investment for the full fixed term (known as the maturation date). If you have additional money that you’d like to put in a GIC, you will need to buy a new one. The interest, fees, and terms being offered to you may be different from what you originally invested in, so be sure to get clear information on the options available to you.  Visit for more information on GICs. You may also want to contact the firm or bank that sold you the GIC if you have specific questions about it.

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