Best Scotiabank GIC Rates for August 2026
Scotiabank is one of Canada’s Big 6 Banks, offering a wide array of banking products including savings accounts, chequing accounts, credit cards and guaranteed investment certificates, or GICs.
Scotiabank’s current GIC rates
Scotiabank GIC rates for some of the bank’s most popular GICs, as of August 13, 2026.
Note: Non-reedemable GICs rates are based on annually compounded interest.
Interest Rate sorted ascending | Term | GIC Type |
|---|---|---|
1.90% | 1 year | Regular Cashable |
2.00% | 30-59 days | Short-term Non-Redeemable GICs |
2.00% | 60-89 days | Short-term Non-Redeemable GICs |
2.20% | 90-119 days | Short-term Non-Redeemable GICs |
2.20% | 120-149 days | Short-term Non-Redeemable GICs |
2.20% | 150-179 days | Short-term Non-Redeemable GICs |
2.30% | 180-269 days | Short-term Non-Redeemable GICs |
2.40% | 270-364 days | Short-term Non-Redeemable GICs |
2.45% | 1 year | Long-term Non-Redeemable GICs |
2.45% | 1 year | Guaranteed Income Optimizer |
2.50% | 18 months | Long-term Non-Redeemable GICs |
2.50% | 2 years | Long-term Non-Redeemable GICs |
2.50% | 2 years | Guaranteed Income Optimizer |
2.55% | 24-month term | Personal Redeemable GIC |
2.60% | 3 years | Long-term Non-Redeemable GICs |
2.60% | 3 years | Guaranteed Income Optimizer |
2.70% | 4 years | Long-term Non-Redeemable GICs |
2.70% | 4 years | Guaranteed Income Optimizer |
2.75% | 5 years | Long-term Non-Redeemable GICs |
2.75% | 5 years | Guaranteed Income Optimizer |
2.75% | 6 years | Guaranteed Income Optimizer |
2.75% | 7 years | Guaranteed Income Optimizer |
2.75% | 8 years | Guaranteed Income Optimizer |
2.80% | 9 years | Guaranteed Income Optimizer |
3.00% | 10 years | Guaranteed Income Optimizer |
3.25% | 2-year term | Non-Redeemable GIC |
Note: Rates shown for market-linked GICs include the minimum guaranteed return and the maximum full term return.
Scotiabank's market-linked GICs
Option sorted ascending | Term | Interim interest rate | Annual minimum guaranteed interest rate | Minimum - maximum full-term return |
|---|---|---|---|---|
Scotiabank Canadian Low Volatility Index | 2 Year | 2.50% | 1.49% | 3.00% - 9.00% |
Scotiabank Canadian Low Volatility Index | 3 Year | 2.60% | 1.64% | 5.00% - 15.00% |
Scotiabank Canadian Low Volatility Index | 5 Year | 2.75% | 2.47% | 13.00% - 26.00% |
Scotiabank Canadian Top 60 | 3 Year | 2.60% | 0.33% | 1.00% - 19.00% |
Scotiabank Canadian Top 60 | 5 Year | 2.75% | 0.40% | 2.00% - 41.00% |
Scotiabank Canadian Utilities | 2 Year | 2.50% | 1.49% | 3.00% - 8.00% |
Scotiabank Canadian Utilities | 3 Year | 2.60% | 1.64% | 5.00% - 15.00% |
Scotiabank Canadian Utilities | 5 Year | 2.75% | 2.11% | 11.00% - 26.00% |
Scotiabank U.S. Top 500 | 2 Year | 2.50% | 1.00% | 2.00% - 9.00% |
Scotiabank U.S. Top 500 | 3 Year | 2.60% | 0.33% | 1.00% - 16.00% |
Scotiabank U.S. Top 500 | 5 Year | 2.75% | 0.40% | 2.00% - 29.00% |
The best Scotiabank GIC rates
| Account | NerdWallet rating | Interest rate | Minimum deposit | Term |
|---|---|---|---|---|
| Scotiabank Long Term Non-Redeemable 3 Year GIC | ||||
 | -/5 | Up to 3.33% | $500 | 3 Years |
| Scotiabank Cashable 1 Year GIC | ||||
| -/5 | 1.90% | $500 | 1 Year |
| Scotiabank Personal Redeemable 2 Year GIC (Special Offer) | ||||
| -/5 | 2.55% | $500 | 2 Years |
| Scotiabank Market Linked 5 Year GIC Canadian Top 60 | ||||
| -/5 | 2.00% to 40.00% | $500 | 5 Years |
| Scotiabank Long Term Non-Redeemable 2 Year GIC (Special Offer) | ||||
| 4.0/5 | 3.25% | $500 | 2 Years |
What to know about Scotiabank GICs
Scotiabank’s guaranteed investment certificates (GICs) offer competitive interest rates, flexible terms, and do not charge monthly fees, but may have an early withdrawal penalty. Depending on the type of GIC, interest can be compounded and paid out annually or semi-annually. In addition, Preferred Package and Ultimate Package customers also have access to special, higher interest rates.
Scotiabank GIC can be opened for as little as $500 and are insured up to $100,000 thanks to Canadian Deposit Insurance Corporation (CDIC) protection.
How to open a Scotiabank GIC
When you’re ready to open a Scotiabank GIC, you’ll need to meet the following requirements:
Have a Social Insurance Number.
Live in Canada with a Canadian address.
You’ve reached the age of majority in the province or territory in which you reside.
Have a Scotiabank chequing or savings account.
Register for Scotiabank online banking.
If you don’t have a Scotiabank account, you can open one online or head into a branch to have an employee set you up. Once your account has been opened and you’ve deposited funds, you can purchase a Scotiabank GIC online, over the phone, or in a branch.
Depending on the GIC, there’s a minimum investment amount of $500 to $100,000. That said, the $100,000 minimum only applies to U.S. dollar GICs with a term of 1-29 days.
How to close a Scotiabank GIC
Note that GICs are a product, not an account, so there’s nothing to “close.”
When purchasing a Scotiabank GIC, you can set it to not renew automatically. When your GIC matures, your principal and any interest earned will be deposited into your account.
If you’ve purchased a redeemable or cashable GIC, you can contact Scotiabank directly to access your funds.
Alternatives to Scotiabank GICs
Scotiabank GIC rates are competitive, but it can still benefit you to shop around. Digital financial institutions, like EQ Bank, typically offer highly competitive GICs. Since they have limited overhead costs compared to traditional banks, they pass on the savings to consumers through higher interest rates. However, these online banks usually only offer standard, non-redeemable GICs.
If you want a GIC from a different bank
The best thing to do when shopping for GICs is to see what other banks are offering so you can compare. Canada’s Big Banks often have multiple GIC products with attractive interest rate, terms and interest payment options.
Minimum deposit | Are deposits insured? | |
|---|---|---|
Starting at $500 | Yes, by the Canada Deposit Insurance Corporation. | |
Starting at $500 | Yes, by the Canada Deposit Insurance Corporation. | |
Starting at $500 | Yes, by the Canada Deposit Insurance Corporation. | |
Starting at $1,000 | Yes, by the Canada Deposit Insurance Corporation. | |
Starting at $500 | Yes, by the Canada Deposit Insurance Corporation. |
Digital banks typically have higher interest rates and low minimum balance requirements for GICs than the traditional financial institutions, for example:
EQ Bank GICs often offer higher standard GIC rates.
Simplii Financial GICs can be held in RRSP or non-registered accounts.
Tangerine Bank GICs offer a variety of investment alternatives as well as choice of terms and interest payment frequency.
For more options, you can compare our picks for the top GIC rates in Canada.
If you want a different Scotiabank product
GICs aren’t the only way to earn competitive interest at Scotiabank. It also offers a high-interest savings account that may be another low-risk way to grow your money for the future. Additionally, the Scotiabank TFSA can be ideal for those looking for a tax-advantaged savings account to hold cash until they plan their investments.
View details
- The MomentumPLUS Savings Account offers a higher interest rate on long-term savings for multiple goals in one account.
- Founded in Halifax in 1832, Scotiabank is one of Canada’s oldest and largest banks, a more or less permanent member of the country’s Big Six financial institutions. Read our review of Scotiabank for more information.
- Save for multiple goals in one account.
- No monthly account fees or minimum balance required.
- Earn even more interest¹ when you open and fund a Premium Period(s).²
- The longer you save, the higher your interest rate.
- Rates, fees and other information are effective as of April 22, 2026. Subject to change.
- Terms and Conditions Apply. Click 'Apply Now' for complete details.
DIVE EVEN DEEPER
