Best BMO GIC Rates for August 2026

The Bank of Montreal, also known as BMO, is one of Canada’s Big Six banks, with a large selection of financial products, including credit cards, bank accounts and investment services.

It also has a wide variety of guaranteed investment certificates (GICs), including cashable, non-cashable, market-linked and U.S. dollar GICs. The bank even offers an Air Miles GIC that lets holders earn Air Miles. BMO GICs feature interest rates in line with many of Canada’s other big banks, though they come in an impressively large selection of term lengths, from as little as a few months up to a decade.

BMO’s current GIC rates

Here are the BMO GIC rates for some of BMO’s most popular GICs, as of August 13, 2026.

Some BMO GICs offer several interest payment options, and your GIC interest rate may depend on the term and payment option you choose.

The best BMO GIC rates

Account	Interest rate	Minimum deposit	Term
BMO Non-Cashable 1 Year GIC
	2.45%	$1,000	1 Year
BMO Non-Cashable 4 Year GIC
	3.00%	$1,000	4 Years
BMO Growth 4 Year GIC — Market-linked
	1.00%, up to 24.00%	$1,000	4 Years
BMO RateRiser® Plus 2 Year GIC
	Up to 3.00%	$1,000	2 Years
BMO US Dollar Term Deposit Receipt
	3.70%	$1,000 USD	1 Year-under 2 Years

What to know about BMO GICs

Founded in 1817, the Bank of Montreal is Canada’s oldest bank. It’s the eighth largest bank in North America, with total assets of more than $1 trillion. BMO’s GIC offerings are in line with Canada’s other Big Banks in terms of interest rates, but may not be as competitive as online-only banks like EQ Bank or Tangerine.

Most GICs at BMO appear to require a minimum deposit of $1,000. BMO GICs feature guaranteed interest rates and the flexibility to select from a range of payment options (such as yearly, monthly or semi-annual interest) and terms.

Generally, you’ll get a slightly better interest rate if you go with the yearly payment option, and you may also be required to put down a larger deposit (as much as $5,000) if you want monthly payments. BMO’s non-cashable GICs typically have slightly better interest rates than the bank’s cashable GICs. BMO GICs are eligible for coverage with the Canadian Deposit Insurance Corporation (CDIC).

How to choose a BMO GIC

Selecting a BMO GIC is a personal decision and will depend on your own unique financial goals and preferences. Your best bet is to research the features and benefits of each type of GIC to determine which option best aligns with your goals. Things to consider include:

Overall, the things you’ll want to consider when choosing a BMO GIC include the following:

Types of BMO GICs

The Bank of Montreal has a large selection of GICs, including cashable, non-cashable, RateRiser GICs (where the rate rises each year), market-linked GICs, and U.S. dollar GICs. There’s even a BMO Air Miles GIC that allows you to earn loyalty miles.

You can hold your GICs in a non-registered account, as well as in registered accounts, such as:

BMO GIC terms

The standard BMO GICs come in an impressive range of terms, from as little as a few months up to 10 years.

Some of the more specialized options have fewer terms to choose from. For example, the RateRiser Max comes in terms of two, three or five years.

How to open a BMO GIC

BMO does not state the requirements to open a GIC on its website. Generally, you can expect to need to open a BMO account before buying a GIC. To open an account with BMO, you’ll need:

How to close a BMO GIC

A GIC doesn’t need to be closed like a bank account does. Typically, when the term of your GIC ends, you have the option of withdrawing the funds or reinvesting them into a GIC again. Be aware that the default with BMO GICs appears to be automatically reinvesting your funds in a GIC of the same term when your investment comes due, unless you provide other instructions.

Alternatives to BMO GICs

If you want a GIC from a different bank and are looking for the best GIC rates possible. There does not tend to be much variability in interest rates between the GICs offered at Canada’s Big Six banks. However, each bank periodically has its own promotions and special offers that may be of interest.

If you want a GIC from a different bank

You may want to consider GICs offered by other Big Banks, including:

Alternatively, you could consider some of the top rated GICs from leading digital banks. Many of these online-only banks offer competitive rates, often with low minimum deposits.

If you want a different BMO product

Consider socking money away in BMO’s high-interest savings account, the Savings Builder, where you can earn up to 2.5% interest if you increase your account balance by at least $200 each month. However, you only get one free transfer out of the Savings Builder account per month and must pay a $5 fee for each withdrawal or additional transfer.

Another alternative is BMO Savings Amplifier Account, which gives you 1.9% interest without minimum balance requirements and unlimited no-fee self-serve transfers to your other BMO accounts, such as a chequing account.