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Canadian money

GIC Rates

Looking for the best GIC rates in Canada? Here you can compare GIC interest rates across Canadian financial institutions. This GIC rate information is provided for your convenience to help you find the best GIC rate available. Please check with the financial institution as GIC rates and details may change.

Rates are shown for 1 to 5 year GICs. Many financial institutions offer shorter terms and other varieties of GICs not shown here. Some institutions offer registered (RRSP) GICs, non-registered GICs, and TFSA GICs, whereas others offer only non-registered GICs. Visit the financial institution to see a complete list of GICs offered.

These GIC rates are provided by Cannex Financial Exchanges.

View the GIC rates

GIC Rates - Non-registered
GIC Rates - Registered
GIC Rates - Tax-free Savings

Show me the RRSP Contribution Limits

Show me the TFSA Contribution Limits

Quick Facts

Risk GICs are higher risk than a Government of Canada bond, but still low risk.
Liquidity Depends on whether the GIC is redeemable or non-redeemable.
Currency Offered in both Canadian and U.S. dollars, though only certain financial institutions offer U.S. dollar GICs.
RRSP eligible? Canadian dollar GICs are RRSP eligible. U.S. dollar GICs are considered foreign content.
Minimum investment Depends on the financial institution.

Frequently Asked Questions

What is a GIC? A GIC is a guaranteed investment certificate. GICs are guaranteed to pay a certain rate of interest upon maturity. Multi-year GICs typically pay out interest each year on the anniversary date of the GIC. Your principal and rate of interest are guaranteed by the bank. GICs are considered a low risk form of investment. GICs are typically offered for terms of 30 days to 5 years. The face value of the GIC is returned at maturity.

Are GICs offered in U.S. dollars? Financial institutions offer GICs in both Canadian dollars and U.S. dollars. Canadian dollar GICs are RSP eligible. U.S. dollar GICs are considered foreign content.

Where can I buy GICs? GICs can be purchased from most financial institutions.

Can I redeem my GIC early? If there is a possibility that you will need your funds prior to the GIC maturity date, be sure to purchase a redeemable GIC. A redeemable GIC can typically be redeemed early at a penalty. Check the terms of the redeemable GIC before purchasing to avoid any surprises when you redeem the GIC. Non-redeemable GICs offer higher interest rates than non-redeemable GICs.

Is there a minimum investment for a GIC? The minimum investment for a GIC varies across financial institutions. Check with the financial institution for the minimum GIC purchase amount.