A Guaranteed Investment Certificate (GIC) lets you invest a lump sum for a fixed term at a guaranteed annual rate. This page compares selected Canadian GIC rates for common 1-year, 2-year, and 5-year terms.
Snapshot checked August 25, 2026: rates are annual advertised rates and the institutions use different effective dates. The comparison is not a live quote. Confirm the current rate, minimum investment, payment option, registration type, CDIC or provincial coverage, and early-redemption rules before investing.
Selected GIC rates in Canada
Rates below are a comparison snapshot of advertised 1-year, 2-year, and 5-year terms. Some institutions offer additional terms and payment options.
| Institution | 1 year | 2 years | 5 years | Minimum / notes |
|---|---|---|---|---|
| Oaken Financial | 3.55% | 3.90% | 4.25% | Check current minimum and payment option. |
| Haventree Bank | 3.38% | 3.77% | 4.08% | $5,000 minimum; rates effective August 18, 2026. Non-redeemable before maturity. |
| EQ Bank | 3.30% | — | 4.00% | 5-year figure is listed for a registered GIC; confirm product type. |
| Manulife Bank | — | — | 3.65% | $2,500 minimum; 5-year GIC rate shown on the official page. |
| ICICI Bank Canada | 2.85% | 3.05% | 3.25% | $1,000 minimum; non-redeemable GICs compound annually. |
| BMO | 2.70% | 2.75% | 3.10% | Verify minimum and interest-payment option. |
| CIBC | 2.45% | 2.55% | 2.75% | Product and payment options vary. |
| Coast Capital Savings | 2.90% | 3.50% | 3.80% | Credit-union membership and coverage rules may apply. |
| Meridian Credit Union | 3.10% | 3.45% | 3.85% | Credit-union membership and coverage rules may apply. |
| National Bank | 2.85% | 3.25% | 3.35% | Verify current product and minimum. |
| RBC Royal Bank | 2.45% | 2.55% | 2.75% | Interest-payment options vary by GIC. |
| Scotiabank | 2.45% | 2.50% | 2.75% | Verify minimum and term conditions. |
| Tangerine | 3.25% | 3.55% | 3.80% | Rates shown on Tangerine’s current rates page. |
| TD Canada Trust | 2.70% | 2.80% | 3.10% | Confirm current rate and payment option. |
| Vancity | 3.00% | 3.10% | 3.60% | Credit-union membership and coverage rules may apply. |
How to compare GICs
- Term: a longer term may pay more, but your money is unavailable for longer.
- Payment option: interest may be paid monthly, annually, or at maturity. A compound GIC can produce a different maturity value from a payout GIC at the same nominal rate.
- Redeemability: many GICs cannot be cashed before maturity.
- Minimum investment: check the minimum deposit and whether the rate is for registered or non-registered funds.
- Deposit protection: verify CDIC or provincial deposit-insurance coverage and applicable limits.
- Renewal: confirm what happens at maturity and whether the GIC renews automatically at the then-current rate.
Use the calculator to estimate GIC growth
For a simple lump-sum estimate, enter the GIC deposit as the initial deposit, set recurring contributions to $0, use the GIC term as the savings period, and enter the advertised annual rate. The Canadian savings calculator is an estimate; use the institution’s maturity-value calculation for the final amount.
GIC rates are not the same as savings-account rates. If you need flexible access to your money, compare high-interest savings accounts instead.