Skip to main content
Ratehub logo
Ratehub logo

The best 1-year non-registered GIC rates

Compare the best short-term, unregistered GIC rates available in Canada with 1-year terms.

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
    Non-registered
    Minimum investment
    $100
  2. Featured

    5.50%$275 total return based on$5,000 investment
    Term
    1 Year
    Type
    Non-registered
    Minimum investment
    $100
  3. Featured

    5.35%$268 total return based on$5,000 investment
    Term
    1 Year
    Type
    Non-registered
    Minimum investment
    $1,000
  4. Featured

    5.20%$260 total return based on$5,000 investment
    Term
    1 Year
    Type
    Non-registered
    Minimum investment
    $1,000

A GIC is a low-risk investment option where you deposit a specific amount of money for a fixed term at a predetermined interest rate. 1 year non-registered GICs are widely available through various financial institutions. They are straightforward investment products, making them ideal if you're looking for a hassle-free investment option. With GICs you're also able to project your future earnings using a GIC calculator. Compare today's best GIC rates to find a GIC that best suits your financial goals. 

FAQ

What is a non-registered GIC?


What types of non-registered GICs exist?


When is a 1 year GIC a good investment?


What is a 1-year GIC?

Considered a long-term GIC, a 1 year term means the GIC agreement is valid for 12 months from when you first opened the account - during which your interest rate will be locked in and your money will be held by the bank or credit union. After the 1 year period ends, the GIC will mature and the agreement will end, allowing you to withdraw the original amount of money you deposited plus any interest you accrued.

A 1 year term is the most widely popular among those looking to open a GIC and is an ideal sweet spot; it’s a short enough period of time to fit with a range of savings goals while being separated from your cash but is also long-enough for financial providers to offer enticing interest rates. 

Most 1 year GICs are non-redeemable, which means your money is inaccessible for the entirety of the 1 year term and withdrawing your cash before the agreement ends will result in a penalty - unless certain conditions are met. But there are 1-year cashable GICs available with most major banks and financial institutions, too. You can withdraw your money from a cashable GIC at any time after 30 days without penalty or losing interest.  

Pros and cons of 1-year non-registered GICs

1-year non-registered GICs are a great way to lock in your savings and keep them separate from your other saving and spending accounts so you can achieve your specific goal. However, a 1-year GIC may not be the best place to store your emergency fund or cash you suspect you’ll need on short notice. A 1-year GIC should also be reserved for savings goals with short time-horizons (if you plan to invest your money for a time period that's several years in the future, like retirement, a robo-advisor or online brokerage may be a better alternative).

Short-term GICs with terms of between 30 to 270 days are also an option if you can’t be parted from your cash for up to 1 year, or you can consider a high-interest savings account that has no restrictions on withdrawals but doesn’t guarantee a fixed interest rate.

The best overall GICs in Canada

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