Compare GIC Rates

Find the best Guaranteed Investment Certificate rates across Canada's financial institutions.

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1 Year Any Amount All Types

Best 1 Year GIC Rates

Updated:
Financial Institution Rate Minimum Investment Type Actions
EQ Bank
4.55% $10,000 Non-redeemable
Oaken Financial
4.50% $1,000 Non-redeemable
Tangerine
4.40% $5,000 Non-redeemable
Simplii Financial
4.35% $10,000 Non-redeemable
Motive Financial
4.25% $1,000 Non-redeemable
CIBC
4.15% $1,000 Non-redeemable
Meridian Credit Union
4.10% $5,000 Non-redeemable
RBC Royal Bank
4.00% $1,000 Non-redeemable
EQ Bank
3.95% $1,000 Redeemable
Tangerine
3.90% $1,000 Redeemable
CIBC
3.85% $1,000 Redeemable
EQ Bank
4.85% $1,000 Non-redeemable
Oaken Financial
4.80% $1,000 Non-redeemable
Tangerine
4.75% $1,000 Non-redeemable
Simplii Financial
4.70% $1,000 Non-redeemable
CIBC
4.65% $1,000 Non-redeemable
Oaken Financial
4.25% $1,000 Redeemable
Tangerine
4.20% $1,000 Redeemable
EQ Bank
5.10% $1,000 Non-redeemable
Oaken Financial
5.05% $1,000 Non-redeemable
Tangerine
4.95% $1,000 Non-redeemable
RBC Royal Bank
4.90% $1,000 Non-redeemable
EQ Bank
4.50% $1,000 Redeemable
CIBC
4.45% $1,000 Redeemable
EQ Bank
5.50% $1,000 Non-redeemable
Oaken Financial
5.45% $1,000 Non-redeemable
Tangerine
5.35% $1,000 Non-redeemable
Meridian Credit Union
5.30% $1,000 Non-redeemable
CIBC
5.25% $1,000 Non-redeemable
Oaken Financial
4.75% $1,000 Redeemable
Tangerine
4.70% $1,000 Redeemable
RBC Royal Bank
4.65% $1,000 Redeemable
info

About Our Rate Comparison

Rates shown are subject to change without notice. Always verify current rates directly with the financial institution before making investment decisions. Last updated:

Featured Redeemable GICs

Scotiabank

1 Year Redeemable GIC
3.75%

Annual Interest Rate

Minimum Investment
$1,000
Term Length
1 Year
Redemption Penalty
Interest reduction
CDIC Insured
Yes
Get This Rate
Redeemable anytime with adjusted interest rate

BMO

1 Year Cashable GIC
3.80%

Annual Interest Rate

Minimum Investment
$1,000
Term Length
1 Year
Redemption Penalty
After 30 days
CDIC Insured
Yes
Get This Rate
Redeemable after 30 days without penalty

TD Bank

1 Year Cashable GIC
3.70%

Annual Interest Rate

Minimum Investment
$1,000
Term Length
1 Year
Redemption Penalty
Partial redemption
CDIC Insured
Yes
Get This Rate
Allows partial redemptions, minimum $1,000

Frequently Asked Questions About GIC Rates

We update our GIC rates database daily to ensure you have access to the most current rates available. Financial institutions typically change their rates in response to Bank of Canada rate announcements or competitive market shifts.

Non-redeemable GICs offer higher rates because you commit to leaving your money invested for the full term. This gives the financial institution certainty about how long they'll have access to your funds. Redeemable GICs offer more flexibility but at the cost of a lower interest rate.

In some cases, GIC rates can be negotiable, especially for larger investment amounts or if you have an existing relationship with the financial institution. Don't hesitate to ask if they can offer a better rate, particularly if you can show them higher rates from competitors.

When your GIC matures, you typically have three options: withdraw the funds (principal plus interest), reinvest in a new GIC, or have the funds automatically renew into a similar GIC. Each institution has its own renewal policies, so check with your provider about your options before the maturity date.

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