Best GIC Rates in Canada
A guaranteed investment certificate, or GIC, pays a guaranteed rate of interest over a set term. The best GIC rate depends on how long you can leave your money untouched, how much you want to deposit and whether you need an account such as a TFSA or RRSP.
Why trust NerdWallet
NerdWallet follows strict editorial guidelines to remain objective in our evaluations and ensure accuracy for our readers. Evaluations are based on a proprietary formula that factors in the overall value and benefits of each GIC.
More than 50 financial institutions, including traditional banks, credit unions and online banks are evaluated by our banking specialists.
Over 280 currently available fixed-rate, non-registered and non-redeemable GICs are examined to determine their eligibility for our roundup.
The best GICs in Canada
BACK TO TOPThe rate table below shows who is currently offering the highest rates by term. These GICs are NerdWallet’s picks for strong overall value, taking into account factors such as rate, minimum deposit and available terms.
| Account | NerdWallet rating | Interest rate | Minimum deposit | Apply Now |
|---|---|---|---|---|
| EQ Bank Non-registered 1 Year GIC | APPLY NOW on EQ Bank's website | |||
 APPLY NOW on EQ Bank's website | 5.0/5 | 3.70% | $100 | |
| Haventree Bank 1 Year GIC | APPLY NOW on Haventree Bank's website | |||
 APPLY NOW on Haventree Bank's website | 4.7/5 | 3.80% | $100 | |
| Tangerine 1 Year GIC | APPLY NOW on Tangerine's website | |||
 APPLY NOW on Tangerine's website | 4.9/5 | 3.50% | N/A | |
| WealthONE Bank of Canada 1 Year GIC | APPLY NOW on WealthONE's website | |||
 APPLY NOW on WealthONE's website | 4.4/5 | 3.70% | $1,000 | |
| EQ Bank Non-registered 2 Year GIC | APPLY NOW on EQ Bank's website | |||
APPLY NOW on EQ Bank's website | -/5 | 3.85% | $100 | |
| Haventree Bank 2 Year GIC | APPLY NOW on Haventree Bank's website | |||
APPLY NOW on Haventree Bank's website | 4.7/5 | 4.20% | $100 | |
| Tangerine Non-registered 2 Year GIC | APPLY NOW on Tangerine's website | |||
APPLY NOW on Tangerine's website | 4.9/5 | 3.85% | N/A | |
GIC fast facts
Rates vary by term. A longer term does not always mean a higher rate, so compare one- to five-year options before locking in.
Non-redeemable GICs usually offer higher rates. In exchange, you generally cannot access your money before maturity.
Minimum deposits differ. Some GICs can be opened with as little as $100, while others require $500, $1,000 or more.
GICs can be held in registered accounts. Depending on the institution, you may be able to hold a GIC in a TFSA, RRSP, RESP or non-registered account.
Eligible GICs are protected by deposit insurance. CDIC coverage applies at member institutions up to applicable limits. Coverage for credit unions varies by province.
Current GIC rates in Canada
BACK TO TOPCompare current rates for fixed-rate, non-registered, non-redeemable GICs from banks, credit unions and online financial institutions. GIC rates currently available, as of September 10, 2026:
Financial Institution sorted ascending | 1-year GIC | 2-year GIC | 3-year GIC | 4-year GIC | 5-year GIC | Minimum Deposit |
|---|---|---|---|---|---|---|
Achieva Financial | 3.65% | 3.75% | 3.95% | 3.90% | 4.10% | $1,000 |
Alterna Bank | 2.65% | 2.85% | 3.10% | 3.25% | 3.30% | $500 |
2.70% | 2.75% | 2.85% | 3.00% | 3.10% | $1,000-$5,000 | |
Bridgewater Bank | 3.35% | 3.50% | 3.62% | 3.10% | 3.15% | $5,000 |
2.35% | 2.40% | 2.45% | 2.50% | 4.17% | $1,000 | |
up to 2.70%* | up to 2.75%* | up to 2.85%* | up to 3.00%* | up to 3.10%* | $1,000 | |
Coast Capital Savings | 2.90% | 3.50% | 3.50% | 3.60% | 3.80% | $500 |
3.40% | 3.65% | 3.80% | 3.90% | 4.00% | $100 | |
3.80% | 4.20% | 4.15% | 4.15% | 4.35% | $100 | |
Home Trust | 3.55% | 3.90% | 4.00% | 4.05% | 4.25% | $1,000 |
Hubert’s Happy Savings | 3.80% | 3.80% | 3.75% | 3.80% | 3.90% | $1,000 |
ICICI Bank | 2.90% | 3.40% | 3.50% | 3.60% | 3.70% | $1,000 |
3.40% | 3.60% | 3.70% | 3.75% | 3.80% | $500 | |
LBCDigital.ca | 3.40% | 3.60% | 3.70% | 3.75% | 3.80% | $100 |
Manulife Bank | 3.00% | 3.30% | 3.35% | 3.40% | 3.65% | $2,500-$25,000 |
MAXA Financial | 3.65% | 3.70% | 3.80% | 3.85% | 3.95% | $500 |
MCAN Wealth | 3.65% | 3.90% | 3.90% | 3.95% | 4.05% | $100 |
Meridian Credit Union | 3.10% | 3.50% | 3.70% | 3.80% | 4.00% | $100 |
2.85% | 3.35% | 3.25% | 3.30% | 3.45% | $500 | |
Oaken Financial | 3.55% | 3.90% | 4.00% | 4.05% | 4.25% | $1,000 |
Outlook Financial | 3.65% | 3.70% | 3.80% | 3.85% | 3.95% | $1,000 |
Peoples Bank of Canada | 3.25% | 3.00% | 3.25% | 3.25% | 3.45% | $1,000 |
up to 2.70%* | up to 2.80%* | 2.55% | 2.70% | up to 3.10%* | $1,000-$5,000 | |
Saven Financial | 3.70% | 3.90% | 4.00% | 4.05% | 4.25% | $1,000 |
2.45% | up to 3.25%* | 2.60% | 2.70% | 2.75% | $500-$5,000 | |
2.90% | 3.00% | 3.20% | 3.55% | 3.65% | $100 | |
3.30% | 3.65% | 3.75% | 3.85% | 4.00% | N/A | |
2.70% | 2.80% | 2.85% | 2.90% | 3.10% | $1,000 | |
WealthONE Bank of Canada | 3.70% | 3.95% | 4.05% | 4.10% | 4.30% | $1,000 |
Note: Rates reflect annual interest rates for non-redeemable, non-registered fixed-rate GICs that pay interest annually. Promotional rates are marked where applicable. Rates can change quickly, so confirm the offer directly with the institution before you buy.
ALSO CONSIDER: The best short-term GIC rates for terms of less than one yea
Methodology
BACK TO TOPNerdWallet Canada selects the best guaranteed investment certificates based on several criteria. Factors in our evaluation methodology include annual percentage yields, minimum deposit, redeemability, account type and more. Only fixed-rate, non-registered and non-redeemable guaranteed investment certificates that are available in more than one province are considered for this list.
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What the Bank of Canada rate update means for GICs
More Nerdy Perspective
After the BoC’s seventh consecutive rate hold, announced on September 2, 2026, GIC interest rates should continue hovering around their current levels until the end of October. For savers, the key is to shop around to ensure they get the best return on their investment.
🤓 Nerdy takeaway: Even though GIC rates aren't improving, there are still plenty of opportunities to earn at least 4% — so long as you're comfortable locking your cash up for at least two years. If liquidity is a concern in the current economic climate, check out what's available on the short-term GIC front.
Using your GIC savings to buy a home? Read how the BoC decision (and U.S. tariff threats) could affect the fall housing market.
What to know before buying a GIC
The most important question is not which guaranteed investment certificate (GICs) has the highest rate. It is whether you will need the money before the term ends.
If you have a specific date in mind — for example, a home purchase, tuition payment or other planned expense — choose a GIC that matures before you need the funds. If you are unsure when you will need the money, a [high-interest savings account] or short-term GIC may be a better fit.
When comparing GICs, check:
The term: Choose a maturity date that works with your plans.
Redeemability: Cashable and redeemable GICs offer more flexibility but may pay lower rates.
Interest payments: Some GICs pay interest monthly, annually or at maturity.
Account type: A TFSA GIC, RRSP GIC and non-registered GIC can have different tax implications.
Calculate the value of a GIC
💰 See how much your GIC could grow
Use our GIC interest calculator to estimate how much interest you could earn based on your deposit, rate and term.
Alternatives to GICs
Simplii Financial™ High Interest Savings Account
Special Offer: Earn 3.70% interest on eligible deposits for the first 7 months. Limits apply. Offer ends on June 30th, 2025. Put your savings in the fast lane with great rates and no monthly fees. Grow your savings. No matter what you’re saving for, it’s easier with Simplii™.Frequently asked questions
Can I get a 5% interest rate on a GIC?
Currently, finding a GIC with a fixed 5.00% rate of return is unlikely. However, some financial institutions offers competitive GIC rates close to 4.00% for most terms, making it one of the better rates in today’s market.
Is a GIC taxable?
If you buy GICs within a tax-sheltered account such as your RRSP or TFSA, you won’t pay taxes on any interest income you earn. With a TFSA, there are no taxes when you withdraw the funds. However, withdrawals are taxed at your marginal tax rate with an RRSP.
If you purchase GICs in a non-registered account, any interest you earn would be considered taxable income at your marginal tax rate. Your financial institution issues tax slips during tax season, so you’ll know exactly how much interest income you must report.
Which bank has the highest GIC rates in Canada?
NerdWallet Canada weekly selects the best GICs on several criteria from the top Big Six banks, online-only financial institutions, and credit unions.
The financial institutions offering the highest GIC rates in Canada as of August 27, 2026, are:
1-year GIC: 3.79% (WealthONE, Saven)
2-year GIC: 4.00% (Haventree Bank)
3-year GIC: 4.10% (Haventree Bank)
4-year GIC: 4.15% (Haventree Bank)
5-year GIC: 4.30% (WealthONE)
GIC fast facts
Rates vary by term. A longer term does not always mean a higher rate, so compare one- to five-year options before locking in.
Non-redeemable GICs usually offer higher rates. In exchange, you generally cannot access your money before maturity.
Minimum deposits differ. Some GICs can be opened with as little as $100, while others require $500, $1,000 or more.
GICs can be held in registered accounts. Depending on the institution, you may be able to hold a GIC in a TFSA, RRSP, RESP or non-registered account.
Eligible GICs are protected by deposit insurance. CDIC coverage applies at member institutions up to applicable limits. Coverage for credit unions varies by province.
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Sandra MacGregor