Compare GIC Rates in Canada for 2026: Best 1- to 5-Year GICs
🏆 Current highest GIC rates in Canada
Our picks for the highest fixed-rate, non-redeemable GIC interest rates as of March 25, 2026, are:
1-year GIC rate: 3.65% (WealthONE Bank of Canada)
2-year GIC rate: 3.80% (Achieva Financial)
3-year GIC rate: 3.70% (Achieva Financial, MAXA Financial, Outlook Financial, Saven Financial and WealthONE)
4-year GIC rate: 3.75% (Achieva Financial, MAXA Financial, Outlook Financial and WealthONE)
5-year GIC rate: 3.85% (Achieva Financial)
ALSO CONSIDER: The best short-term GIC rates for 1- to 9-month terms.
Lock in to some of the best GIC rates in Canada. A GIC is a secure investment that guarantees 100% of your principal plus interest at maturity. $100 minimum, No fees, Eligible for CDIC protection. Click “Apply now” to start saving!
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
NerdWallet's take
NerdWallet's take- WealthONE Bank of Canada is a Canadian Schedule 1 bank that serves all Canadians including the newcomers. It has two offices in Toronto and Vancouver and offers online banking, a mobile app and competitive interest rates.
- WealthONE Bank’s non-redeemable GICs offer 6-month to 5-year terms and can be included in a registered TFSA, RSP, or RIF as well as in non-registered products.
Product details
Product details- Non-registered and non-redeemable.
- When the term ends and the GIC reaches maturity, WealthONE Bank will pay the principal amount of the GIC plus interest, according to your disposition of funds instructions. If no maturity instructions have been received by WealthOne, the proceeds of the matured GIC may be renewed for the same terms and conditions unless WealthONE Bank receives a request to cancel within ten business days from the date of renewal.
- Term options range from 6-month to 5-years.
- WealthONE GICs are fixed-term GICs that are non-redeemable prior to the Maturity Date.
- An Early Redemption fee is $20.00 plus foregone interest. For more information, please check our Account Terms and Conditions for Savings Accounts and GIC Investments.
- Can be included in your registered TFSA, RSP, or RIF as well as non-registered products.
- Minimum $1,000 investment.
- Eligible for Canada Deposit Insurance Corporation (CDIC) Insurance. CDIC limits apply.
NerdWallet's take
NerdWallet's take- Achieva Financial GICs are available in one to five year terms and can be included in registered plans, including TFSAs, RRSPs and RRIFs.
- Achieva Financial is an online division of Manitoba’s Cambrian Credit Union and offers savings accounts, GICS, TFSAs, Registered Retirement Savings Plans (RRSPs), and Registered Retirement Income Funds (RRIFs).
Product details
Product details- GIC terms ranging from 1 year to 5 years.
- GICs for TFSAs, RRSPs and RRIFs are also available.
- Renew your GIC online easily.
- Minimum $1,000 balance per GIC.
- Choose to let your interest earnings compound over the length of the term, or have your interest paid annually to your Daily Interest Savings Account.
- When your GIC reaches maturity, reinvest the funds in a new GIC or have them deposited to a Daily Interest Savings Account.
- No monthly fee for an Achieva account.
- All deposits guaranteed without limit by the Deposit Guarantee Corporation of Manitoba.
NerdWallet's take
NerdWallet's take- Saven Financial’s registered and non-registered GICs come in 6-month and 1- to 5-year terms with competitive interest rates.
- Saven Financial is a online division of FirstOntario Credit Union. The credit union offers attractive perks and interest rates on savings accounts and GICs. Not available to Quebec residents.
Product details
Product details- Both registered and non-registered GICs are non-redeemable.
- For non-registered GICs, choose to receive the interest annually in your savings account or reinvest in your GIC account.
- For registered GICs, choose to receive interest payout annually in the same registered account as your investment or reinvest the interest for another term.
- Banking services are not available in Quebec.
- Eligible deposits covered under the Financial Services Regulatory -Authority of Ontario’s (FSRA) deposit insurance program.
NerdWallet's take
NerdWallet's take- MAXA Financial's GICs are available in one to five-year terms and can be included in TFSA, RRSP and RRIF plans.
- MAXA Financial is an operating division of Westoba Credit Union Ltd. and offers a high-interest savings account, GICs, and TFSA, RRSP and RRIF products.
Product details
Product details- Minimum deposit of $500.00.
- One to five year terms.
- TFSA, RRSP and RRIF are also available.
- Interest compounded or paid annually to your MAXA High Interest Savings Account.
- Account information available online or by phone.
- All GICs are non-redeemable prior to maturity.
- At maturity, MAXA GICs automatically roll into your MAXA High Interest Savings account.
- Guaranteed 100% by Deposit Guarantee Corporation of Manitoba.
NerdWallet's take
NerdWallet's take- Outlook Financial's GICs are available in one to five-year terms and can be included in TFSA, RRSP and RRIF plans.
- Outlook Financial is an online division of Assiniboine Credit Union and offers savings accounts, GICS, TFSAs, Registered Retirement Savings Plans (RRSPs), and Registered Retirement Income Funds (RRIFs).
Product details
Product details- Choose from a 1 to 5 year term depending on your investment horizon.
- Choose to reinvest your compound interest back into your GIC, or pay it annually to your High-Interest Savings Account.
- Fixed GICs are eligible for non-registered investments and registered plans.
- The minimum deposit for Outlook GICs is $1000.
- Not eligible for early redemption and must remain invested until the expiry of the selected term.
- GIC interest rates are quoted per annum, with interest calculated and paid on each 12 month anniversary date, and at the maturity date.
- Deposits including accrued interest to date of payout are 100% guaranteed without limit by the Deposit Guarantee Corporation of Manitoba (DGCM).
NerdWallet's take
NerdWallet's take- Achieva Financial GICs are available in one to five year terms and can be included in registered plans, including TFSAs, RRSPs and RRIFs.
- Achieva Financial is an online division of Manitoba’s Cambrian Credit Union and offers savings accounts, GICS, TFSAs, Registered Retirement Savings Plans (RRSPs), and Registered Retirement Income Funds (RRIFs).
Product details
Product details- GIC terms ranging from 1 year to 5 years.
- GICs for TFSAs, RRSPs and RRIFs are also available.
- Renew your GIC online easily.
- Minimum $1,000 balance per GIC.
- Choose to let your interest earnings compound over the length of the term, or have your interest paid annually to your Daily Interest Savings Account.
- When your GIC reaches maturity, reinvest the funds in a new GIC or have them deposited to a Daily Interest Savings Account.
- No monthly fee for an Achieva account.
- All deposits guaranteed without limit by the Deposit Guarantee Corporation of Manitoba.
NerdWallet's take
NerdWallet's take- WealthONE Bank of Canada is a Canadian Schedule 1 bank that serves all Canadians including the newcomers. It has two offices in Toronto and Vancouver and offers online banking, a mobile app and competitive interest rates.
- WealthONE Bank’s non-redeemable GICs offer 6-month to 5-year terms and can be included in a registered TFSA, RSP, or RIF as well as in non-registered products.
Product details
Product details- Non-registered and non-redeemable.
- When the term ends and the GIC reaches maturity, WealthONE Bank will pay the principal amount of the GIC plus interest, according to your disposition of funds instructions. If no maturity instructions have been received by WealthOne, the proceeds of the matured GIC may be renewed for the same terms and conditions unless WealthONE Bank receives a request to cancel within ten business days from the date of renewal.
- Term options range from 6-month to 5-years.
- WealthONE GICs are fixed-term GICs that are non-redeemable prior to the Maturity Date.
- An Early Redemption fee is $20.00 plus foregone interest. For more information, please check our Account Terms and Conditions for Savings Accounts and GIC Investments.
- Can be included in your registered TFSA, RSP, or RIF as well as non-registered products.
- Minimum $1,000 investment.
- Eligible for Canada Deposit Insurance Corporation (CDIC) Insurance. CDIC limits apply.
NerdWallet's take
NerdWallet's take- MAXA Financial's GICs are available in one to five-year terms and can be included in TFSA, RRSP and RRIF plans.
- MAXA Financial is an operating division of Westoba Credit Union Ltd. and offers a high-interest savings account, GICs, and TFSA, RRSP and RRIF products.
Product details
Product details- Minimum deposit of $500.00.
- One to five year terms.
- TFSA, RRSP and RRIF are also available.
- Interest compounded or paid annually to your MAXA High Interest Savings Account.
- Account information available online or by phone.
- All GICs are non-redeemable prior to maturity.
- At maturity, MAXA GICs automatically roll into your MAXA High Interest Savings account.
- Guaranteed 100% by Deposit Guarantee Corporation of Manitoba.
NerdWallet's take
NerdWallet's take- Outlook Financial's GICs are available in one to five-year terms and can be included in TFSA, RRSP and RRIF plans.
- Outlook Financial is an online division of Assiniboine Credit Union and offers savings accounts, GICS, TFSAs, Registered Retirement Savings Plans (RRSPs), and Registered Retirement Income Funds (RRIFs).
Product details
Product details- Choose from a 1 to 5 year term depending on your investment horizon.
- Choose to reinvest your compound interest back into your GIC, or pay it annually to your High-Interest Savings Account.
- Fixed GICs are eligible for non-registered investments and registered plans.
- The minimum deposit for Outlook GICs is $1000.
- Not eligible for early redemption and must remain invested until the expiry of the selected term.
- GIC interest rates are quoted per annum, with interest calculated and paid on each 12 month anniversary date, and at the maturity date.
- Deposits including accrued interest to date of payout are 100% guaranteed without limit by the Deposit Guarantee Corporation of Manitoba (DGCM).
NerdWallet's take
NerdWallet's take- Saven Financial’s registered and non-registered GICs come in 6-month and 1- to 5-year terms with competitive interest rates.
- Saven Financial is a online division of FirstOntario Credit Union. The credit union offers attractive perks and interest rates on savings accounts and GICs. Not available to Quebec residents.
Product details
Product details- Both registered and non-registered GICs are non-redeemable.
- For non-registered GICs, choose to receive the interest annually in your savings account or reinvest in your GIC account.
- For registered GICs, choose to receive interest payout annually in the same registered account as your investment or reinvest the interest for another term.
- Banking services are not available in Quebec.
- Eligible deposits covered under the Financial Services Regulatory -Authority of Ontario’s (FSRA) deposit insurance program.
NerdWallet's take
NerdWallet's take- Hubert's high-interest savings deposits are available in one to five-year terms.
- Hubert Financial is the online division of Sunova Credit Union and offers a high-interest savings account, term deposits, registered plans, a credit card and VirtualWealth investing.
Product details
Product details- One-year terms redeemable quarterly, and two-year to five-year terms non-redeemable.
- Interest calculated and compounded annually.
- $1,000 minimum balance required.
- TFSA, and RRSP and RRIF terms are also available.
- Hubert has zero transaction fees — whether you’re making a deposit, transferring funds, setting up a registered account, or making a withdrawal.
- 100% guaranteed by the Deposit Guarantee Corporation of Manitoba.
NerdWallet's take
NerdWallet's take- Achieva Financial GICs are available in one to five year terms and can be included in registered plans, including TFSAs, RRSPs and RRIFs.
- Achieva Financial is an online division of Manitoba’s Cambrian Credit Union and offers savings accounts, GICS, TFSAs, Registered Retirement Savings Plans (RRSPs), and Registered Retirement Income Funds (RRIFs).
Product details
Product details- GIC terms ranging from 1 year to 5 years.
- GICs for TFSAs, RRSPs and RRIFs are also available.
- Renew your GIC online easily.
- Minimum $1,000 balance per GIC.
- Choose to let your interest earnings compound over the length of the term, or have your interest paid annually to your Daily Interest Savings Account.
- When your GIC reaches maturity, reinvest the funds in a new GIC or have them deposited to a Daily Interest Savings Account.
- No monthly fee for an Achieva account.
- All deposits guaranteed without limit by the Deposit Guarantee Corporation of Manitoba.
NerdWallet's take
NerdWallet's take- MAXA Financial's GICs are available in one to five-year terms and can be included in TFSA, RRSP and RRIF plans.
- MAXA Financial is an operating division of Westoba Credit Union Ltd. and offers a high-interest savings account, GICs, and TFSA, RRSP and RRIF products.
Product details
Product details- Minimum deposit of $500.00.
- One to five year terms.
- TFSA, RRSP and RRIF are also available.
- Interest compounded or paid annually to your MAXA High Interest Savings Account.
- Account information available online or by phone.
- All GICs are non-redeemable prior to maturity.
- At maturity, MAXA GICs automatically roll into your MAXA High Interest Savings account.
- Guaranteed 100% by Deposit Guarantee Corporation of Manitoba.
NerdWallet's take
NerdWallet's take- Outlook Financial's GICs are available in one to five-year terms and can be included in TFSA, RRSP and RRIF plans.
- Outlook Financial is an online division of Assiniboine Credit Union and offers savings accounts, GICS, TFSAs, Registered Retirement Savings Plans (RRSPs), and Registered Retirement Income Funds (RRIFs).
Product details
Product details- Choose from a 1 to 5 year term depending on your investment horizon.
- Choose to reinvest your compound interest back into your GIC, or pay it annually to your High-Interest Savings Account.
- Fixed GICs are eligible for non-registered investments and registered plans.
- The minimum deposit for Outlook GICs is $1000.
- Not eligible for early redemption and must remain invested until the expiry of the selected term.
- GIC interest rates are quoted per annum, with interest calculated and paid on each 12 month anniversary date, and at the maturity date.
- Deposits including accrued interest to date of payout are 100% guaranteed without limit by the Deposit Guarantee Corporation of Manitoba (DGCM).
NerdWallet's take
NerdWallet's take- Saven Financial’s registered and non-registered GICs come in 6-month and 1- to 5-year terms with competitive interest rates.
- Saven Financial is a online division of FirstOntario Credit Union. The credit union offers attractive perks and interest rates on savings accounts and GICs. Not available to Quebec residents.
Product details
Product details- Both registered and non-registered GICs are non-redeemable.
- For non-registered GICs, choose to receive the interest annually in your savings account or reinvest in your GIC account.
- For registered GICs, choose to receive interest payout annually in the same registered account as your investment or reinvest the interest for another term.
- Banking services are not available in Quebec.
- Eligible deposits covered under the Financial Services Regulatory -Authority of Ontario’s (FSRA) deposit insurance program.
NerdWallet's take
NerdWallet's take- WealthONE Bank of Canada is a Canadian Schedule 1 bank that serves all Canadians including the newcomers. It has two offices in Toronto and Vancouver and offers online banking, a mobile app and competitive interest rates.
- WealthONE Bank’s non-redeemable GICs offer 6-month to 5-year terms and can be included in a registered TFSA, RSP, or RIF as well as in non-registered products.
Product details
Product details- Non-registered and non-redeemable.
- When the term ends and the GIC reaches maturity, WealthONE Bank will pay the principal amount of the GIC plus interest, according to your disposition of funds instructions. If no maturity instructions have been received by WealthOne, the proceeds of the matured GIC may be renewed for the same terms and conditions unless WealthONE Bank receives a request to cancel within ten business days from the date of renewal.
- Term options range from 6-month to 5-years.
- WealthONE GICs are fixed-term GICs that are non-redeemable prior to the Maturity Date.
- An Early Redemption fee is $20.00 plus foregone interest. For more information, please check our Account Terms and Conditions for Savings Accounts and GIC Investments.
- Can be included in your registered TFSA, RSP, or RIF as well as non-registered products.
- Minimum $1,000 investment.
- Eligible for Canada Deposit Insurance Corporation (CDIC) Insurance. CDIC limits apply.
NerdWallet's take
NerdWallet's take- Achieva Financial GICs are available in one to five year terms and can be included in registered plans, including TFSAs, RRSPs and RRIFs.
- Achieva Financial is an online division of Manitoba’s Cambrian Credit Union and offers savings accounts, GICS, TFSAs, Registered Retirement Savings Plans (RRSPs), and Registered Retirement Income Funds (RRIFs).
Product details
Product details- GIC terms ranging from 1 year to 5 years.
- GICs for TFSAs, RRSPs and RRIFs are also available.
- Renew your GIC online easily.
- Minimum $1,000 balance per GIC.
- Choose to let your interest earnings compound over the length of the term, or have your interest paid annually to your Daily Interest Savings Account.
- When your GIC reaches maturity, reinvest the funds in a new GIC or have them deposited to a Daily Interest Savings Account.
- No monthly fee for an Achieva account.
- All deposits guaranteed without limit by the Deposit Guarantee Corporation of Manitoba.
NerdWallet's take
NerdWallet's take- MAXA Financial's GICs are available in one to five-year terms and can be included in TFSA, RRSP and RRIF plans.
- MAXA Financial is an operating division of Westoba Credit Union Ltd. and offers a high-interest savings account, GICs, and TFSA, RRSP and RRIF products.
Product details
Product details- Minimum deposit of $500.00.
- One to five year terms.
- TFSA, RRSP and RRIF are also available.
- Interest compounded or paid annually to your MAXA High Interest Savings Account.
- Account information available online or by phone.
- All GICs are non-redeemable prior to maturity.
- At maturity, MAXA GICs automatically roll into your MAXA High Interest Savings account.
- Guaranteed 100% by Deposit Guarantee Corporation of Manitoba.
NerdWallet's take
NerdWallet's take- Outlook Financial's GICs are available in one to five-year terms and can be included in TFSA, RRSP and RRIF plans.
- Outlook Financial is an online division of Assiniboine Credit Union and offers savings accounts, GICS, TFSAs, Registered Retirement Savings Plans (RRSPs), and Registered Retirement Income Funds (RRIFs).
Product details
Product details- Choose from a 1 to 5 year term depending on your investment horizon.
- Choose to reinvest your compound interest back into your GIC, or pay it annually to your High-Interest Savings Account.
- Fixed GICs are eligible for non-registered investments and registered plans.
- The minimum deposit for Outlook GICs is $1000.
- Not eligible for early redemption and must remain invested until the expiry of the selected term.
- GIC interest rates are quoted per annum, with interest calculated and paid on each 12 month anniversary date, and at the maturity date.
- Deposits including accrued interest to date of payout are 100% guaranteed without limit by the Deposit Guarantee Corporation of Manitoba (DGCM).
NerdWallet's take
NerdWallet's take- WealthONE Bank of Canada is a Canadian Schedule 1 bank that serves all Canadians including the newcomers. It has two offices in Toronto and Vancouver and offers online banking, a mobile app and competitive interest rates.
- WealthONE Bank’s non-redeemable GICs offer 6-month to 5-year terms and can be included in a registered TFSA, RSP, or RIF as well as in non-registered products.
Product details
Product details- Non-registered and non-redeemable.
- When the term ends and the GIC reaches maturity, WealthONE Bank will pay the principal amount of the GIC plus interest, according to your disposition of funds instructions. If no maturity instructions have been received by WealthOne, the proceeds of the matured GIC may be renewed for the same terms and conditions unless WealthONE Bank receives a request to cancel within ten business days from the date of renewal.
- Term options range from 6-month to 5-years.
- WealthONE GICs are fixed-term GICs that are non-redeemable prior to the Maturity Date.
- An Early Redemption fee is $20.00 plus foregone interest. For more information, please check our Account Terms and Conditions for Savings Accounts and GIC Investments.
- Can be included in your registered TFSA, RSP, or RIF as well as non-registered products.
- Minimum $1,000 investment.
- Eligible for Canada Deposit Insurance Corporation (CDIC) Insurance. CDIC limits apply.
NerdWallet's take
NerdWallet's take- Achieva Financial GICs are available in one to five year terms and can be included in registered plans, including TFSAs, RRSPs and RRIFs.
- Achieva Financial is an online division of Manitoba’s Cambrian Credit Union and offers savings accounts, GICS, TFSAs, Registered Retirement Savings Plans (RRSPs), and Registered Retirement Income Funds (RRIFs).
Product details
Product details- GIC terms ranging from 1 year to 5 years.
- GICs for TFSAs, RRSPs and RRIFs are also available.
- Renew your GIC online easily.
- Minimum $1,000 balance per GIC.
- Choose to let your interest earnings compound over the length of the term, or have your interest paid annually to your Daily Interest Savings Account.
- When your GIC reaches maturity, reinvest the funds in a new GIC or have them deposited to a Daily Interest Savings Account.
- No monthly fee for an Achieva account.
- All deposits guaranteed without limit by the Deposit Guarantee Corporation of Manitoba.
NerdWallet's take
NerdWallet's take- WealthONE Bank of Canada is a Canadian Schedule 1 bank that serves all Canadians including the newcomers. It has two offices in Toronto and Vancouver and offers online banking, a mobile app and competitive interest rates.
- WealthONE Bank’s non-redeemable GICs offer 6-month to 5-year terms and can be included in a registered TFSA, RSP, or RIF as well as in non-registered products.
Product details
Product details- Non-registered and non-redeemable.
- When the term ends and the GIC reaches maturity, WealthONE Bank will pay the principal amount of the GIC plus interest, according to your disposition of funds instructions. If no maturity instructions have been received by WealthOne, the proceeds of the matured GIC may be renewed for the same terms and conditions unless WealthONE Bank receives a request to cancel within ten business days from the date of renewal.
- Term options range from 6-month to 5-years.
- WealthONE GICs are fixed-term GICs that are non-redeemable prior to the Maturity Date.
- An Early Redemption fee is $20.00 plus foregone interest. For more information, please check our Account Terms and Conditions for Savings Accounts and GIC Investments.
- Can be included in your registered TFSA, RSP, or RIF as well as non-registered products.
- Minimum $1,000 investment.
- Eligible for Canada Deposit Insurance Corporation (CDIC) Insurance. CDIC limits apply.
NerdWallet's take
NerdWallet's take- MCAN Wealth offers some of the highest regular interest rates on non-registered GICs, starting at $100. MCAN Wealth is a part of MCAN Mortgage Corporation, functioning under the registered brand name MCAN Financial Group. MCAN provides financing and investment solutions, including GICs, in Canada.
Product details
Product details- For GIC terms equal to one year, simple interest is calculated annually and paid at maturity.
- For investment terms of over one year, interest is calculated on a per annum basis and paid either annually (simple interest) or at maturity (compounded annually).
- All term deposits are non-registered, and non-redeemable prior to maturity.
- Investors can use online account management to invest, track and access funds.
- Eligible for CDIC deposit insurance up to $100,000.
NerdWallet's take
NerdWallet's take- Saven Financial’s registered and non-registered GICs come in 6-month and 1- to 5-year terms with competitive interest rates.
- Saven Financial is a online division of FirstOntario Credit Union. The credit union offers attractive perks and interest rates on savings accounts and GICs. Not available to Quebec residents.
Product details
Product details- Both registered and non-registered GICs are non-redeemable.
- For non-registered GICs, choose to receive the interest annually in your savings account or reinvest in your GIC account.
- For registered GICs, choose to receive interest payout annually in the same registered account as your investment or reinvest the interest for another term.
- Banking services are not available in Quebec.
- Eligible deposits covered under the Financial Services Regulatory -Authority of Ontario’s (FSRA) deposit insurance program.
NerdWallet's take
NerdWallet's take- Home Trust Company is a wholly owned subsidiary of Home Capital Group Inc., a public company traded on the Toronto Stock Exchange under the symbol HCG. Home Trust, and its subsidiary Home Bank, are federally regulated financial institutions. Licensed to conduct business across Canada, Home Trust has offices in Ontario, Alberta, British Columbia, Nova Scotia and Quebec.
- Home Trust GICs are fixed-rate deposits that come in short and long-term options. They can be included in retirement savings plans, tax-free savings accounts, and retirement income funds. Most GICs are non-redeemable, but a 1-year cashable GIC is also available.
Product details
Product details- Non-registered and registered GICs.
- Term options include 1-year cashable, short-term deposits (30-59 days to 270-364 days), and long term deposits (1-year to 5-years).
- Home Trust Bank provides a range of Guaranteed Investment Certificates (GICs) and a High Interest Savings Account (HISA) for both personal and commercial needs, offering guaranteed returns and competitive rates. In addition, each deposit is available through either Home Trust Company or Home Bank, both of which are separate members of the Canada Deposit Insurance Corporation (CDIC).
NerdWallet's take
NerdWallet's take- Oaken GICs offer choice through competitive rates for a variety of terms and types, such as short-term, long-term and cashable GICs available for both registered and non-registered plans, plus security with CDIC coverage as per applicable limits.
- Oaken Financial is backed by Home Bank and powered by Home Trust Company and offers a digital app and online banking services for HISAs and GICs.
Product details
Product details- Non-registered and non-redeemable.
- When the term ends, Oaken will follow the instructions you provide on what you want to do with your investment at maturity. This can include redeeming the GIC and depositing the funds into the account of your choice, or automatically renewing the GIC for the same term and at the current interest rate.
- Term options range from 30 days to 5 years, and are available as cashable and non-cashable GICs.
- All Oaken GICs are eligible for inclusion in government registered accounts, including Registered Savings Plans (RSP), Tax Free Savings Accounts (TFSA) and Retirement Income Funds (RIF).
- Oaken GICs offer choice, flexibility and security with non-registered GICs.
- Flexible payment schedules. Choose the interest payment schedule that suits your needs best – whether that’s monthly, semi-annually, annually or at maturity.
- Select from two issuers: Home Bank and Home Trust Company, both of which are separate members of CDIC.
- Deposit a little or a lot: The minimum deposit is $1,000.
- Oaken GICs are eligible for Canada Deposit Insurance Corporation (CDIC) coverage, up to applicable limits.
NerdWallet's take
NerdWallet's take- Hubert's high-interest savings deposits are available in one to five-year terms.
- Hubert Financial is the online division of Sunova Credit Union and offers a high-interest savings account, term deposits, registered plans, a credit card and VirtualWealth investing.
Product details
Product details- One-year terms redeemable quarterly, and two-year to five-year terms non-redeemable.
- Interest calculated and compounded annually.
- $1,000 minimum balance required.
- TFSA, and RRSP and RRIF terms are also available.
- Hubert has zero transaction fees — whether you’re making a deposit, transferring funds, setting up a registered account, or making a withdrawal.
- 100% guaranteed by the Deposit Guarantee Corporation of Manitoba.
NerdWallet's take
NerdWallet's take- MAXA Financial's GICs are available in one to five-year terms and can be included in TFSA, RRSP and RRIF plans.
- MAXA Financial is an operating division of Westoba Credit Union Ltd. and offers a high-interest savings account, GICs, and TFSA, RRSP and RRIF products.
Product details
Product details- Minimum deposit of $500.00.
- One to five year terms.
- TFSA, RRSP and RRIF are also available.
- Interest compounded or paid annually to your MAXA High Interest Savings Account.
- Account information available online or by phone.
- All GICs are non-redeemable prior to maturity.
- At maturity, MAXA GICs automatically roll into your MAXA High Interest Savings account.
- Guaranteed 100% by Deposit Guarantee Corporation of Manitoba.
NerdWallet's take
NerdWallet's take- Outlook Financial's GICs are available in one to five-year terms and can be included in TFSA, RRSP and RRIF plans.
- Outlook Financial is an online division of Assiniboine Credit Union and offers savings accounts, GICS, TFSAs, Registered Retirement Savings Plans (RRSPs), and Registered Retirement Income Funds (RRIFs).
Product details
Product details- Choose from a 1 to 5 year term depending on your investment horizon.
- Choose to reinvest your compound interest back into your GIC, or pay it annually to your High-Interest Savings Account.
- Fixed GICs are eligible for non-registered investments and registered plans.
- The minimum deposit for Outlook GICs is $1000.
- Not eligible for early redemption and must remain invested until the expiry of the selected term.
- GIC interest rates are quoted per annum, with interest calculated and paid on each 12 month anniversary date, and at the maturity date.
- Deposits including accrued interest to date of payout are 100% guaranteed without limit by the Deposit Guarantee Corporation of Manitoba (DGCM).
Lock in to some of the best GIC rates in Canada. A GIC is a secure investment that guarantees 100% of your principal plus interest at maturity. $100 minimum, No fees, Eligible for CDIC protection. Click “Apply now” to start saving!
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.
Compare Canadian GIC rates
Highest GIC rates currently available as of Mar. 25, 2026.
Financial Institution sorted ascending | 1-year Term | 2-year Term | 3-year Term | 4-year Term | 5-year Term | Minimum Deposit |
|---|---|---|---|---|---|---|
Achieva Financial | 3.60% | 3.80% | 3.70% | 3.75% | 3.85% | $1,000 |
Alterna Bank | 2.75% | 2.90% | 3.15% | 3.30% | 3.40% | $500 |
BMO Bank of Montreal | 2.25% | 2.40% | 2.55% | 2.70% | 3.00% | $1,000-$5,000 |
Bridgewater Bank | 3.13% | 3.30% | 3.39% | 3.10% | 3.15% | $5,000 |
2.35% | 2.40% | 2.45% | 2.50% | 3.78% | $1,000 | |
CIBC Bonus Rate GIC | 2.70% | 2.55% | 2.60% | 2.70% | 2.75% | $1,000 |
Coast Capital Savings | 2.80% | 3.00% | 3.15% | 3.20% | 3.40% | $500 |
3.20% | 3.50% | 3.65% | 3.75% | 3.85% | $100 | |
Home Trust | 3.00% | 3.30% | 3.60% | 3.65% | 3.80% | $1,000 |
Hubert’s Happy Savings | 3.45% | 3.55% | 3.65% | 3.70% | 3.80% | $1,000 |
ICICI Bank | 2.70% | 2.90% | 2.90% | 2.90% | 3.10% | $1,000 |
3.00% | 3.25% | 3.30% | 3.40% | 3.45% | $500 | |
LBCDigital.ca | 3.00% | 3.30% | 3.45% | 3.50% | 3.60% | $100 |
Manulife Bank | 2.75% | 2.80% | 3.00% | 3.00% | 3.20% | $2,500-$25,000 |
MAXA Financial | 3.50% | 3.60% | 3.70% | 3.75% | 3.80% | $500 |
MCAN Wealth | 3.40% | 3.50% | 3.60% | 3.60% | 3.80% | $100 |
Meridian Credit Union | 2.80% | 3.15% | 3.60% | 3.40% | 3.60% | $100 |
National Bank of Canada | 2.50% | 2.80% | 2.90% | 3.25% | 3.15% | $500 |
Oaken Financial | 3.00% | 3.30% | 3.60% | 3.65% | 3.80% | $1,000 |
Outlook Financial | 3.50% | 3.60% | 3.70% | 3.75% | 3.80% | $1,000 |
Peoples Bank of Canada | 2.90% | 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 | 3.55% | 3.60% | 3.70% | 3.70% | 3.80% | $1,000 |
Scotiabank | 2.45% | up to 3.25%* | up to 3.26%* | 2.70% | 2.75% | $500-$5,000 |
Simplii Financial | 2.85% | 2.90% | 3.00% | 3.20% | 3.30% | $100 |
3.15% | 3.30% | 3.35% | 3.40% | 3.50% | N/A | |
2.60% | 2.65% | 2.75% | 2.90% | 3.00% | $1,000 | |
WealthONE Bank of Canada | 3.65% | 3.75% | 3.70% | 3.75% | 3.80% | $1,000 |
(Rates reflect the APY of non-redeemable, non-registered fixed-rate GICs that pay interest annually.)
*Promotional rates offered by the bank.
Bank of Canada rate update: What it means for GICs
More Nerdy Perspective
The Bank of Canada’s decision to hold its overnight lending rate at 2.25% on March 18 means at least another six weeks of the status quo for Canadian savers. The Bank isn’t expected to raise the overnight rate for most of 2026, so GIC and HISA rates might be as good as they’re going to get for the foreseeable future.
🤓 Nerdy takeaway: Top GIC rates are still sitting around 3.80% (see table above), with minimal day-to-day movement. These rates can change over the coming weeks, so it may be worth comparing your options now and locking in a term that matches your timeline.
Buying a home? Read how the BoC decision could affect homebuyers.
💰 See how much your GIC could grow
Guaranteed investment certificates (GICs) that offer the best rates can help you grow your savings in a secure, low-risk way, over a set period. At the end of the term, you’ll get your initial deposit (principal) back, plus the interest earned.
Benefits to look for in a GIC
NerdWallet evaluates and selects GICs based on their overall value. We prefer GICs with:
Higher interest rates. In a normal interest rate environment, you’ll typically get higher interest rates on longer-term GICs. The rate of return, or annual percentage yield (APY) may vary by term length, redeemability and interest payment options.
Lower minimum deposits. When choosing non-redeemable GICs, consider the ones with little or no minimum balance requirements for better returns. Cashable and redeemable GICs let you access your funds early, but they offer a lower interest rate.
Flexibility. Choose a financial institution that offers diverse terms, whether registered or non-registered GICs, to accommodate your future needs.
Interest payment options. A good GIC will provide multiple interest payment options, such as monthly, quarterly, semi-annually, annually, or at maturity.
Drawbacks to be aware of in a GIC
While GICs are a generally reliable way to steadily compound your investment, watch out for these potential drawbacks:
Lower interests and fewer options. GIC interest rates can vary between financial institutions. Many online banks offer higher rates but may not have a full suite of products compared to traditional banks.
High minimum balances. Some GICs require a higher minimum deposit to qualify for the best interest rates. Always review the bank terms before investing.
Limited payment options. Some GICs lock your deposit until maturity. If you need funds on a regular basis, make sure interest payment options are available.
How to choose the best type of GIC for you
To find a GIC that suits your financial timeline and goals, consider these factors:
✅ Banking preferences: Do you prefer online banking or in-branch services? Some may choose online banks over traditional full-service institutions to get better interest rates.
✅ Interest rates: Shop around, comparing interest rates based on types of investments, term lengths and interest payment frequency.
✅ Minimum deposit: Non-redeemable GICs lock your funds until the term is up. So ask yourself how much money you feel comfortable setting aside for the duration of the term.
✅ GIC strategies and options: Does the financial institution offer the right tools and plans that match your potential future needs? These may include:
GIC Terms
Long-term GICs have terms ranging from one to 10 years. These types of GICs are typically suitable for people with long investment time frames or who are looking for stability in their portfolios.
Short-term GICs, sometimes known as term deposits, have terms of less than one year, so 30 to 364 days. These types of GICs are aimed at people who want access to their funds sooner.
GIC Interest rates
Knowing how interest rates work can help maximize the overall performance of your GICs.
With fixed-rate GICs, you’ll know exactly how much interest you’ll earn before investing your money. However, you’ll need to confirm whether your bank will pay your interest annually, semi-annually, or monthly.
Variable-rate GICs, sometimes known as prime-linked GICs, protect your principal while giving you a variable interest rate linked to the financial institution’s prime rate.
With market-linked GICs, also known as equity-linked GICs, your principal investment remains protected but the interest you’ll earn is tied to the underlying stock market index.
GIC redeemability
Some GICs allow early access to your funds. This flexibility can help you in case of financial emergencies.
Cashable GICs are usually locked for 30-90 days before you can withdraw your funds.
Redeemable GICs allow access to your money any time after you’ve made the purchase. However, you’d likely receive a lower interest than you would at the end of the term.
Non-redeemable GICs lock your funds until the term is up. However, you’re compensated with higher interest rates than cashable and redeemable GICs.
Types of GIC accounts
GIC laddering
A GIC ladder is a common GIC investment strategy in which you split your initial investment into equal pools, with each portion invested into GICs with different terms and interest rates.
✅ Deposit insurance: Does your bank or credit union protect your deposits? The Canadian Deposit Insurance Corporation (CDIC) member banks cover up to $100,000 per eligible account. Credit unions insure for up to $250,000 through the province or territory’s regulatory authority.
✅ Student GIC program: Do you qualify for the Student Direct Stream (SDS)? Some banks offer GIC programs for international students to support SDS applications.
How to buy a GIC
Buying GICs from your current financial institution is straightforward. However, you can get your GIC from a new trust company, broker or online discount brokerage offering a better rate.
You’ll need to set up a registered or non-registered account, which you can usually open online, over the phone, or at your local branch.
If you already have an RRSP, TFSA or non-registered account, you can purchase GICs at any time.
If you’re new to the process and want some assistance, a bank advisor can help you set up your account and purchase GICs. Always review the service provider’s terms and conditions before buying.
Documents required to open a GIC account
To open a GIC account, you’ll need:
Two forms of valid ID (passport, driver’s licence, birth certificate).
Proof of residential address (utility or cellphone bill).
You generally don’t need Canadian citizenship to open a GIC account, but you need to be the age of majority in the province or territory in which you reside.
Alternatives to fixed-rate GICs
If fixed-rate, non-redeemable GICs aren’t the right fit for you, there are plenty of other alternatives available. You can choose from the numerous market-linked, registered, variable-rate and US-dollar GIC options offered by traditional and online banks.
Minimum deposit | Are deposits insured? |
|---|---|
Starting at $500 | |
Starting at $500 | |
Starting at $500 | |
Starting at $1,000 | |
Starting at $500 | |
Starting at $500 | |
Starting at $100 | |
N/A | |
Starting at $100 |
GIC alternatives
Explore other types of fixed-income products and equities. Here’s how some of the options compare to the GICs.
Both GICs and HISAs are great tools to build savings.
Online high-interest savings accounts (HISAs), generally offer much higher rates than those offered by brick-and-mortar financial institutions.
Unlike GICs, HISAs offer attractive interest rates without needing to lock away funds for any set period. You can freely move your money without any penalties or fees.
In terms of risks and rewards, mutual funds aren’t a fair alternative to GICs.
Mutual funds are a pool of stocks, bonds or other products wrapped into a single investment product managed by a portfolio manager.
Returns on mutual funds are not guaranteed but may be potentially higher than what you’d get from a GIC.
Similar to GICs, governments, municipalities and corporations bonds usually offer a fixed level of income until maturity. Key differences include:
Bond yields can increase and decrease based on market conditions.
You can usually opt in and out of bonds without fear of paying any penalties.
Although bonds are a relatively safe investment, the issuers can have different ratings for stability. For example, government bonds are typically highly rated and secure, whereas junk or high-yield bonds can be risky since the issuer could default.
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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 Mar. 25, 2026, are:
WealthONE Bank of Canada, 1-year GIC rate: 3.65%
Achieva Financial, 2-year GIC rate: 3.80%
Achieva Financial, MAXA Financial, Outlook Financial, Saven Financial and WealthONE, 3-year GIC rate: 3.70%
Achieva Financial, MAXA Financial, Outlook Financial and WealthONE, 4-year GIC rate: 3.75%
Achieva Financial, 5-year GIC rate: 3.85%
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Sandra MacGregor