Best GIC rates in Canada

This is list of GIC (Guaranteed Investment Certificate) rates available at Canadian Banks. It should help you to choose the best rate for long term and safe deposit. You can use our savings calculator to see what interest you’ll earn with the rate you pick.

In this table are listed only 1-5 years long term rates, but some Canadian banks offer longer term GICs. Check their websites for more information, as rates can be changed at any time without prior notice.

Banks are listed in alphabetic order (last update February, 2019)

Bank NameMinimum InvestmentInvestment TermsInterest Payment Option
1 year2 years3 years4 years5 years
B2B bank$10002.50%2.75%2.83%2.90%2.95%Annual pay or compound
Bank of Montreal$10001.40%1.50%1.60%1.80%2.20%Based on annual or annual compound interest payment option
Canadian Tire Bank$10002.70%2.95%3.00%3.10%3.35%Interest is paid on the maturity of your GIC .
Canadian Western Bank$10002.51%2.71%2.79%2.87%3.00%Annual interest
CIBC$10000.55%0.65%0.85%1.05%1.25%Simple interest is paid monthly, quarterly, semi-annually, or annually, or compound interest is calculated annually and paid at maturity
CS Alterna Savings$5002.00%2.10%2.15%2.25%2.50%
General Bank of Canada$50002.55%2.71%2.85%2.95%3.01%
HomEquity Bank$50002.55%2.70%2.94%2.94%3.10%Annual interest
Laurentian Bank of Canada$10002.50%2.75%3.00%3.05%3.30%
Manulife Bank of Canada$25002.45%2.65%2.75%2.85%2.95%Annual interest
National Bank of Canada$10001.40%1.50%1.60%1.80%2.00%Simple or Compound interest
Oaken Financial$50003.10%3.30%3.35%3.40%3.60%Annual Compound or Annual Pay
Royal Bank of Canada$5001.65%1.75%2.00%2.10%2.20%Interest paid annually
Scotia Bank$5001.20%1.25%1.60%1.50%1.60%Compounded Annually
TD Canada Trust$10001.45%1.60%1.80%2.00%2.20%Compound interest calculated annually and paid at maturity
VersaBank$10002.51%2.71%2.81%2.97%3.01%Compounded Annually