Best Short-Term GIC Rates in Canada
A short-term GIC lets you earn a guaranteed return on money you can leave untouched for a few months. It can be a useful option when you have a specific near-term goal, but do not need immediate access to your savings.
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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.
Compare the best short-term GICs in Canada
BACK TO TOPThe table below shows the current rates available by term. These GICs are NerdWallet’s picks for overall value, including factors such as rate, minimum deposit and term options.
| Account | NerdWallet rating | Interest rate | Minimum deposit | Apply Now |
|---|---|---|---|---|
| Tangerine 3 Month GIC | APPLY NOW on Tangerine's website | |||
 APPLY NOW on Tangerine's website | 4.9/5 | 2.50% | N/A | |
| EQ Bank Short Term 3 Month GIC | APPLY NOW on EQ Bank's website | |||
 APPLY NOW on EQ Bank's website | 4.7/5 | 2.55% | $100 | |
| EQ Bank Short Term 6 Month GIC | APPLY NOW on EQ Bank's website | |||
APPLY NOW on EQ Bank's website | 4.7/5 | 2.75% | $100 | |
| Tangerine 6 Month GIC | APPLY NOW on Tangerine's website | |||
APPLY NOW on Tangerine's website | 4.9/5 | 2.75% | N/A | |
| Tangerine 9 Month GIC | APPLY NOW on Tangerine's website | |||
APPLY NOW on Tangerine's website | 4.9/5 | 3.15% | N/A | |
Short-term GIC fast facts
Terms typically range from 30 days to nine months. The right term is one that matures before you need the money.
Rates are usually annualized. A 3% rate on a three-month GIC does not mean you earn 3% of your deposit; you earn interest for the three-month term.
Non-redeemable GICs often pay more. In exchange, you generally cannot access your money before maturity.
Minimum deposits vary. Some short-term GICs require as little as $100, while others require $500, $1,000 or more.
Eligible GICs are protected by deposit insurance. CDIC coverage applies at member institutions up to applicable limits. Credit-union coverage varies by province.
Current short-term GIC rates in Canada
BACK TO TOPFinancial institutions do not always describe short terms in the same way: some use days, while others use months. Use this table to compare available rates for terms of up to nine months, as of September 10, 2026. (Scroll to compare rates across terms by institution.)
Financial Institution sorted ascending | 1-month GIC | 2-month GIC | 3-month GIC | 4-month GIC | 6-month GIC | 9-month GIC | Minimum Deposit |
|---|---|---|---|---|---|---|---|
ATB Financial (Alberta only) | 2.00% | 2.00% | 2.25% | 2.25% | 2.50% | 2.50% | $1,000 |
1.75% | 1.75% | 1.75% | 1.75% | 2.05% | 2.05% | $5,000 | |
Bridgewater Bank | - | 1.94% | 1.95% | 2.19% | 2.44% | 2.54% | $5,000 |
2.00% | - | 2.10% | - | 2.50% | 2.60% | $1,000-$5,000 | |
Coast Capital Savings | 1.80% | 1.80% | 1.80% | 2.15% | 2.25% | 2.50% | $500 |
DUCA Earn More Savings Account (Ontario only) | - | 1.50% | 3.00% | - | 2.45% | - | $500 |
- | - | 2.40% | - | 2.75% | 3.10% | $100 | |
Home Trust | 1.00% | 1.00% | 1.00% | 1.00% | 2.25% | 2.70% | $1,000 |
Island Savings (British Columbia only) | 0.45% | 2.06% | 2.06% | 2.06% | 3.01% | 3.11% | $500 |
Laurentian Bank of Canada | - | - | 2.20% | - | 2.50% | 2.60% | $500 |
Manulife Bank | 1.75% | 1.75% | 1.90% | - | 2.38% | 2.50% | $25,000 |
Meridian Credit Union | 1.75% | 1.90% | 2.15% | - | 2.35% | 2.45% | $100 |
- | - | 0.30% | - | 1.50% | 1.85% | $500 | |
Oaken Financial | 1.00% | 1.00% | 1.00% | 1.00% | 2.25% | 2.70% | $1,000 |
Peoples Bank of Canada | 1.20% | 1.50% | 1.90% | 2.05% | 2.30% | 2.50% | $1,000 |
2.15% | 2.35% | 2.40% | - | 2.40% | 2.40% | $5,000 | |
Saven Financial | - | - | - | 2.50% | 2.75% | - | $1,000 |
2.00% | 2.00% | 2.20% | 2.20% | 2.30% | 2.40% | $500-$5000 | |
- | - | 2.50% | - | 2.75% | 3.10% | N/A | |
1.80% | 1.80% | 1.80% | 2.05% | 2.05% | 2.05% | $5,000 | |
Valley First (British Columbia only) | 0.45% | 2.06% | 2.06% | 2.06% | 3.01% | 3.11% | $500 |
Rates reflect annual interest rates for fixed-rate, non-redeemable, non-registered GICs. Your actual return depends on the rate, deposit amount and exact length of the term. Rates can change at any time.
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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How to choose a short-term GIC
Start with the date you expect to need your money. If you are saving for a planned expense in six months, a six-month GIC may make sense. If the timing is uncertain, locking in your money can create an unnecessary problem.
Before choosing a short-term GIC, check:
The exact maturity date. Terms may be described in days rather than months.
Redeemability. Confirm whether you can access your money early and what you would lose if you do.
Minimum deposit. A better rate may not be available at the amount you want to invest.
Interest payment. Short-term GIC interest is often paid at maturity.
Calculate the value of a short-term GIC
Use our GIC interest calculator to estimate how much interest you could earn based on your deposit, rate and term.
Alternatives to short-term GICs
Frequently asked questions
What is a short-term GIC?
A short-term GIC is a guaranteed investment certificate with a term of less than one year. Terms commonly range from 30 days to nine months.
Are short-term GICs worth it?
A short-term GIC may be worthwhile if you have money you will not need for several months and want a guaranteed return. If you need flexibility, a high-interest savings account may be a better option.
Which bank has the highest short-term GIC rates in Canada?
The highest rate changes by term and over time. Use the current rate table above to compare one-, two-, three-, four-, six- and nine-month offers.
Are short-term GICs taxable?
Interest earned in a non-registered GIC is generally taxable as income. Interest earned in a TFSA GIC is tax-free, while RRSP withdrawals are generally taxable.
Are short-term GICs protected by deposit insurance?
Eligible GICs at CDIC member institutions are protected up to $100,000 per separately insured category, per member institution, including principal and interest. Deposit protection for credit unions varies by province.
Short-term GIC fast facts
Terms typically range from 30 days to nine months. The right term is one that matures before you need the money.
Rates are usually annualized. A 3% rate on a three-month GIC does not mean you earn 3% of your deposit; you earn interest for the three-month term.
Non-redeemable GICs often pay more. In exchange, you generally cannot access your money before maturity.
Minimum deposits vary. Some short-term GICs require as little as $100, while others require $500, $1,000 or more.
Eligible GICs are protected by deposit insurance. CDIC coverage applies at member institutions up to applicable limits. Credit-union coverage varies by province.
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