Skip to main content
Ratehub logo
Ratehub logo

The best 1-year registered GIC rates

A registered GIC is widely popular for those looking for a GIC to meet their savings goals. Here are our picks for the best 1-year rates from Canada's top providers.

Compare GICs

Rates updated:

  • No Results
Viewing
GICs for a term of
with a balance of
  1. 5.35%$268 total return based on$5,000 investment
    Term
    1 Year
    Type
    Registered
    Minimum investment
    $100
  2. Featured

    5.35%$268 total return based on$5,000 investment
    Term
    1 Year
    Type
    Registered
    Minimum investment
    $1,000
  3. Featured

    5.20%$260 total return based on$5,000 investment
    Term
    1 Year
    Type
    Registered
    Minimum investment
    $1,000
  4. CIBC

    5.00%$250 total return based on$5,000 investment
    Term
    1 Year
    Type
    Registered
    Minimum investment
    $500

The best overall GICs in Canada

FAQ

What is a 1-year registered GIC, and how does it work?


What’s the best 1-year registered GIC rate in Canada?


Can any GIC be held in a registered account?


Registered vs. non-registered GICs

The difference between a registered vs. non registered GIC is that the interest earned on registered GICs is tax-sheltered. That means you won’t be taxed on the interest earned from your registered GIC because it's held in a registered account. However, you’ll have to stick to your annual contribution limits for registered accounts like TFSAs and RRSPs. On the other hand, interest earned on GICs held in non-registered accounts is taxable. The advantage of non-registered GICs, though, is that you have less restrictions. If you are using a 1-year non-registered GIC to save for a shorter-term goal like a wedding in one year, or paying for tuition, then you can deposit as much as you want without worrying about contribution limits, and you can withdraw the funds at any time without tax penalties. (If you have a non-redeemable GIC, though, you won’t want to cash out the GIC before its maturity.) You’ll have to pay a tax penalty for early withdrawals from certain registered accounts unless you are using them for approved reasons like buying a home. You will be able to withdraw from your TFSA without a tax penalty, though, and you won't lose contribution room from doing so.

Compare more registered investments

Making dollars make sense

explore more articles

A few things we're proud of

  • 1,200,000

    monthly users

  • 11 years

    young

  • Over 1M

    better choices made

  • Trusted partner

    to Canada’s top financial institutions

The knowledge bank

A wealth of knowledge delivered right to your inbox.

By submitting your email address, you acknowledge and agree to Ratehub.ca’s Terms of Use and Privacy Policy. Contact us for more information. You can unsubscribe at any time.

About Ratehub.ca

Whether you need a mortgage, credit card, savings account, or insurance coverage, we help you find and compare the best financial products for your specific needs.

When it comes to mortgages, Ratehub.ca is more than just a place to research and compare the best rates. Our goal is to give Canadians the best mortgage experience from online search to close. This means offering Canadians the mortgage tools, information and articles to educate themselves, allowing them to get personalized rate quotes from multiple lenders to compare rates instantly, and providing them with the best online application and offline customer service to close their mortgage all in one place.

Ratehub.ca has been named Canada's Mortgage Brokerage of the Year for four years straight (2018-2021). With over 12 years of mortgage experience, and over $11 billion in mortgages funded, we deliver you the best mortgage experience in Canada.

How does Ratehub.ca make money?

Financial institutions pay us for connecting them with customers. This could be through advertisements, or when someone applies or is approved for a product. However, not all products we list are tied to compensation for us. Our industry-leading education centres and calculators are available 24/7, free of charge, and with no obligation to purchase. To learn more, visit our About us page.

read more about us