Best GIC Rates in Canada
Rates subject to change, updated:We shop all the top banks and lenders, to bring you the best guaranteed investment certificate rates in Canada. Whether you’re looking for a short-term cashable GIC, or want a longer-term investment like an RRSP GIC, we have all the best rates on our site. Find the product that’ll best serve your savings needs, and apply to open it today.
Did you know that rates differ significantly between financial institutions, and within the various channels / methods where you purchase? Browse our Education Centre to learn about the GICs that best suit your saving needs.
Provincially Insured GICs
| Term | Provider | Min. investment | How to buy | ||
|---|---|---|---|---|---|
| 1-Yr | 3.10% View details |
Parama Credit Union
|
$1,000 | Open an account | Get this rate |
| 2-Yr | 3.30% View details |
Implicity Financial
|
$1,000 | Open an account | Get this rate |
| 3-Yr | 3.35% View details |
Omnia Direct
|
$500 | Open an account | Get this rate |
| 4-Yr | 3.40% View details |
Implicity Financial
|
$1,000 | Open an account | Get this rate |
| 5-Yr | 3.60% View details |
Luminus Financial
|
$500 | Open an account | Get this rate |
| 6-Yr | 3.45% View details |
Accelerate Financial
|
$1,000 | Open an account | Get this rate |
| 7-Yr | 3.50% View details |
Accelerate Financial
|
$1,000 | Open an account | Get this rate |
| 180-Day | 2.50% View details |
Luminus Financial
|
$500 | Open an account | Get this rate |
| Term | Provider | Min. investment | How to buy | ||
|---|---|---|---|---|---|
| 1-Yr | 3.10% View details |
Parama Credit Union
|
$1,000 | Open an account | Get this rate |
| 2-Yr | 3.30% View details |
Implicity Financial
|
$1,000 | Open an account | Get this rate |
| 3-Yr | 3.35% View details |
Implicity Financial
|
$1,000 | Open an account | Get this rate |
| 4-Yr | 3.40% View details |
Implicity Financial
|
$1,000 | Open an account | Get this rate |
| 5-Yr | 3.60% View details |
Luminus Financial
|
$500 | Open an account | Get this rate |
| 6-Yr | 3.45% View details |
Implicity Financial
|
$1,000 | Open an account | Get this rate |
| 7-Yr | 3.50% View details |
Accelerate Financial
|
$500 | Open an account | Get this rate |
| 180-Day | 2.50% View details |
Luminus Financial
|
$500 | Open an account | Get this rate |
| Term | Provider | Min. investment | How to buy | ||
|---|---|---|---|---|---|
| 1-Yr | 3.10% View details |
Parama Credit Union
|
$1,000 | Open an account | Get this rate |
| 2-Yr | 3.30% View details |
Implicity Financial
|
$1,000 | Open an account | Get this rate |
| 3-Yr | 3.35% View details |
Implicity Financial
|
$1,000 | Open an account | Get this rate |
| 4-Yr | 3.40% View details |
Implicity Financial
|
$1,000 | Open an account | Get this rate |
| 5-Yr | 3.60% View details |
Luminus Financial
|
$500 | Open an account | Get this rate |
| 6-Yr | 3.45% View details |
Implicity Financial
|
$1,000 | Open an account | Get this rate |
| 7-Yr | 3.50% View details |
Accelerate Financial
|
$1,000 | Open an account | Get this rate |
| 180-Day | 2.50% View details |
Luminus Financial
|
$500 | Open an account | Get this rate |
| Term | Provider | Min. investment | How to buy |
|---|
CDIC Insured GICs
| Term | Provider | Min. investment | How to buy | ||
|---|---|---|---|---|---|
| 1-Yr | 3.00% View details |
EQ Bank
|
$100 | Open an account | Get this rate |
| 2-Yr | 3.20% View details |
EQ Bank
|
$100 | Open an account | Get this rate |
| 3-Yr | 3.30% View details |
EQ Bank
|
$100 | Open an account | Get this rate |
| 4-Yr | 3.35% View details |
EQ Bank
|
$100 | Open an account | Get this rate |
| 5-Yr | 3.75% View details |
DUCA Credit Union
|
$500 | Open an account | Get this rate |
| 6-Yr | 2.20% View details |
Bank of Montreal
|
$1,000 |
Various
How to buy
|
Get this rate |
| 7-Yr | 2.20% View details |
Bank of Montreal
|
$1,000 |
Various
How to buy
|
Get this rate |
| 90-Day | 2.35% View details |
EQ Bank
|
$100 | Open an account | Get this rate |
| 180-Day | 2.55% View details |
EQ Bank
|
$100 | Open an account | Get this rate |
| Term | Provider | Min. investment | How to buy | ||
|---|---|---|---|---|---|
| 1-Yr | 2.75% View details |
Alterna Bank
|
$500 | Open an account | Get this rate |
| 2-Yr | 3.30% View details |
Oaken Financial
|
$1,000 | Open an account | Get this rate |
| 3-Yr | 3.35% View details |
Oaken Financial
|
$1,000 | Open an account | Get this rate |
| 4-Yr | 3.40% View details |
Oaken Financial
|
$1,000 | Open an account | Get this rate |
| 5-Yr | 3.75% View details |
DUCA Credit Union
|
$500 | Open an account | Get this rate |
| 6-Yr | 2.20% View details |
Bank of Montreal
|
$1,000 |
Various
How to buy
|
Get this rate |
| 7-Yr | 2.20% View details |
Bank of Montreal
|
$1,000 |
Various
How to buy
|
Get this rate |
| 90-Day | 1.90% View details |
Oaken Financial
|
$2,500 | Open an account | Get this rate |
| 180-Day | 2.75% View details |
Oaken Financial
|
$2,500 | Open an account | Get this rate |
| Term | Provider | Min. investment | How to buy | ||
|---|---|---|---|---|---|
| 1-Yr | 2.75% View details |
Alterna Bank
|
$500 | Open an account | Get this rate |
| 2-Yr | 3.30% View details |
Oaken Financial
|
$1,000 | Open an account | Get this rate |
| 3-Yr | 3.35% View details |
Oaken Financial
|
$1,000 | Open an account | Get this rate |
| 4-Yr | 3.40% View details |
Oaken Financial
|
$1,000 | Open an account | Get this rate |
| 5-Yr | 3.75% View details |
DUCA Credit Union
|
$500 | Open an account | Get this rate |
| 6-Yr | 2.20% View details |
Bank of Montreal
|
$1,000 |
Various
How to buy
|
Get this rate |
| 7-Yr | 2.20% View details |
Bank of Montreal
|
$1,000 |
Various
How to buy
|
Get this rate |
| 90-Day | 0.95% View details |
TD Bank
|
$5,000 |
Various
How to buy
|
Get this rate |
| 180-Day | 2.40% View details |
Wealth One Bank of Canada
|
$1,000 | Open an account | Get this rate |
| Term | Provider | Min. investment | How to buy | ||
|---|---|---|---|---|---|
| 1-Yr | 1.25% View details |
Alterna Bank
|
$500 | Open an account | Get this rate |
| 2-Yr | 0.50% View details |
Alterna Bank
|
$500 | Open an account | Get this rate |
| 3-Yr | 0.60% View details |
Alterna Bank
|
$500 | Open an account | Get this rate |
| 4-Yr | 0.80% View details |
Alterna Bank
|
$500 | Open an account | Get this rate |
| 5-Yr | 1.10% View details |
Alterna Bank
|
$500 | Open an account | Get this rate |
| 90-Day | 0.20% View details |
Alterna Bank
|
$500 | Open an account | Get this rate |
| 180-Day | 0.35% View details |
Alterna Bank
|
$500 | Open an account | Get this rate |
| Term | Provider | Min. investment | How to buy | ||
|---|---|---|---|---|---|
| 1-Yr | 2.50% View details |
CIBC
|
$1,000 |
Various
How to buy
|
Get this rate |
| 2-Yr | 2.55% View details |
Manulife Bank of Canada
|
$2,500 |
Various
How to buy
|
Get this rate |
| 3-Yr | 2.65% View details |
Manulife Bank of Canada
|
$2,500 |
Various
How to buy
|
Get this rate |
| 4-Yr | 2.75% View details |
Manulife Bank of Canada
|
$2,500 |
Various
How to buy
|
Get this rate |
| 5-Yr | 3.00% View details |
CIBC
|
$1,000 |
Various
How to buy
|
Get this rate |
| 6-Yr | 2.20% View details |
Bank of Montreal
|
$1,000 |
Various
How to buy
|
Get this rate |
| 7-Yr | 2.20% View details |
Bank of Montreal
|
$1,000 |
Various
How to buy
|
Get this rate |
| 90-Day | 1.20% View details |
Manulife Bank of Canada
|
$25,000 |
Various
How to buy
|
Get this rate |
| 180-Day | 1.35% View details |
Manulife Bank of Canada
|
$25,000 |
Various
How to buy
|
Get this rate |
| Term | Provider | Min. investment | How to buy | ||
|---|---|---|---|---|---|
| 1-Yr | 2.40% View details |
Manulife Bank of Canada
|
$2,500 |
Various
How to buy
|
Get this rate |
| 2-Yr | 2.55% View details |
Manulife Bank of Canada
|
$2,500 |
Various
How to buy
|
Get this rate |
| 3-Yr | 2.65% View details |
Manulife Bank of Canada
|
$2,500 |
Various
How to buy
|
Get this rate |
| 4-Yr | 2.75% View details |
Manulife Bank of Canada
|
$2,500 |
Various
How to buy
|
Get this rate |
| 5-Yr | 2.85% View details |
Manulife Bank of Canada
|
$2,500 |
Various
How to buy
|
Get this rate |
| 6-Yr | 2.20% View details |
Bank of Montreal
|
$1,000 |
Various
How to buy
|
Get this rate |
| 7-Yr | 2.20% View details |
Bank of Montreal
|
$1,000 |
Various
How to buy
|
Get this rate |
| 90-Day | 1.20% View details |
Manulife Bank of Canada
|
$25,000 |
Various
How to buy
|
Get this rate |
| 180-Day | 1.35% View details |
Manulife Bank of Canada
|
$25,000 |
Various
How to buy
|
Get this rate |
| Term | Provider | Min. investment | How to buy | ||
|---|---|---|---|---|---|
| 1-Yr | 2.40% View details |
Manulife Bank of Canada
|
$2,500 |
Various
How to buy
|
Get this rate |
| 2-Yr | 2.55% View details |
Manulife Bank of Canada
|
$2,500 |
Various
How to buy
|
Get this rate |
| 3-Yr | 2.65% View details |
Manulife Bank of Canada
|
$2,500 |
Various
How to buy
|
Get this rate |
| 4-Yr | 2.75% View details |
Manulife Bank of Canada
|
$2,500 |
Various
How to buy
|
Get this rate |
| 5-Yr | 2.85% View details |
Manulife Bank of Canada
|
$2,500 |
Various
How to buy
|
Get this rate |
| 6-Yr | 2.20% View details |
Bank of Montreal
|
$1,000 |
Various
How to buy
|
Get this rate |
| 7-Yr | 2.20% View details |
Bank of Montreal
|
$1,000 |
Various
How to buy
|
Get this rate |
| 90-Day | 0.95% View details |
TD Bank
|
$5,000 |
Various
How to buy
|
Get this rate |
| 180-Day | 1.10% View details |
TD Bank
|
$5,000 |
Various
How to buy
|
Get this rate |
| Term | Provider | Min. investment | How to buy | ||
|---|---|---|---|---|---|
| 1-Yr | 1.50% View details |
TD Bank
|
$5,000 |
Various
How to buy
|
Get this rate |
| 2-Yr | 0.50% View details |
Desjardins
|
$5,000 |
Various
How to buy
|
Get this rate |
| 3-Yr | 0.55% View details |
Desjardins
|
$5,000 |
Various
How to buy
|
Get this rate |
| 4-Yr | 0.85% View details |
Desjardins
|
$5,000 |
Various
How to buy
|
Get this rate |
| 5-Yr | 1.50% View details |
Bank of Montreal
|
$1,000 |
Various
How to buy
|
Get this rate |
| 90-Day | 0.95% View details |
HSBC
|
$5,000 |
Various
How to buy
|
Get this rate |
| 180-Day | 1.45% View details |
HSBC
|
$5,000 |
Various
How to buy
|
Get this rate |
What is a guaranteed investment certificate (GIC)?
A guaranteed investment certificate is a financial tool that lets Canadians invest their money and earn some guaranteed interest in the process. With a GIC, you invest your money at a bank or other financial institution for a specific period of time (the “term”, 30 days to 10 years), and they will guarantee you a return of the principal (the initial amount you invested) plus pay you interest based on the length of time you contracted your money to them for. Typically, the longer you’re willing to invest your money for, the higher the interest rate you’ll receive.
What types of guaranteed investment certificates exist?
One of the surprising things about GICs is that you can invest in almost anything. If your goal is to save for the short-term and just beat your bank’s savings account interest rate, you can get a basic cashable GIC. If you want to save in a registered savings account, you can also look at RESP GICs, RRSP GICs and TFSA GICs. If you travel to the U.S. often, it may make sense for you to invest in a U.S. currency GIC (or other foreign currency GIC). Finally, if you’re comfortable taking on a bit more risk, you could also look at market-linked GICs.
Why invest in a guaranteed investment certificate?
As the name indicates, what people love about GICs is that the principal is guaranteed to be returned to you, which means you’ll never lose your initial investment. Unlike more volatile investments, such as stocks, GIC investors are not exposed to the possibility of a loss due to market fluctuations. GICs do not generally hold the promise of very high returns, however, but are considered safe, conservative investments.
What is CDIC?
The Canadian Deposit Insurance Corportaion (CDIC) is a federal Crown Corporation that insures eligible deposits made with its member institutions; it is fully backed by the Government of Canada. Insurance offered by CDIC is automatically in place for eligible deposits at CDIC member firms at no additional charge to consumers. (You don’t need to purchase insurance – it’s your bank’s insurance policy.)